ARA fuel oil stocks decline 6% in October
Independently held fuel oil stocks in the ARA bunkering hub have dropped by 6% in October so far, according to Insights Global data.
Changes in monthly average ARA stocks from September to October (so far):
- Fuel oil stocks down 390,000 bbls to 5.83 million bbls
- Gasoil stocks up 630,000 million bbls to 16.88 million bbls
The ARA's fuel oil inventories are now at their lowest monthly average of the year.
The region has imported 34,000 b/d of fuel oil so far in October, sharply down from the 250,000 b/d imported in September, according to cargo tracker Vortexa.
A majority of these supplies have arrived from Ireland (51%), while a significant portion of the supplies has come from Poland (34%).
Meanwhile, the ARA has exported 214,000 b/d of fuel oil in October to date, up considerably from September’s 147,000 b/d.
Most of the shipped volumes have left for Russia (36%), Guyana (27%) and Colombia (13%).
The region’s independent gasoil inventories - which include diesel and heating oil – have gained by 4% so far this month compared to September, according to the Insights Global data.
The ARA has imported 111,000 b/d of gasoil in October, almost half the 209,000 b/d imported in September, according to Vortexa data.
Most cargo volumes have arrived from India (45%), followed by the US (30%) and Finland (11%).
LSMGO bunker availability has tightened in the ARA hub this week, with most buyers advising lead times of at least 6-7 days to arrange supplies, while VLSFO and HSFO continue to require 5-7 days of notice, a trader said.
By Nachiket Tekawade
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