ARA fuel oil stocks fall 3% in February

The ARA’s independently held fuel oil stocks have dipped 3% in February till date compared to January, according to Insights Global data.

Changes in monthly average ARA stocks from January to February (so far):

• Fuel oil stocks down 200,000 bbls to 6.75 million bbls
• Gasoil stocks up 840,000 bbls to 16.14 million bbls

The region has imported 214,000 b/d of fuel oil in February so far, almost at par with 215,000 b/d imported in January, according to cargo tracker Vortexa.

Most cargoes this month have arrived from Nigeria (24%), Lithuania (21%) and the U.S. (15%).

The ARA exported 196,000 b/d of fuel oil in February, higher than the 160,000 b/d shipped in January. Half of the shipments left for Singapore (40%) and Mauritania (10%).

The region’s independent gasoil inventories - which include diesel and heating oil – increased 5% in February, compared to January, according to the Insights Global data.

The ARA imported 270,000 b/d of gasoil in February so far, more than the 206,000 b/d imported in January, according to Vortexa data. The U.S. (24%), Saudi Arabia (22%) and Qatar (20%) have been the biggest contributors.

Securing prompt supplies of VLSFO and LSMGO at the Dutch bunkering hub remains challenging, with suppliers advising lead times of around 5–7 days for both grades, a trader said.

HSFO availability is comparatively better, with deliveries possible on shorter notice of about 2–4 days, the trader added.

By Nachiket Tekawade

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