ARA fuel oil stocks steady in June so far
The ARA’s independently held fuel oil stocks remain mostly unchanged in June so far, compared to May’s monthly average, according to Insights Global data.
Changes in monthly average ARA stocks from May to June (so far):
- Fuel oil stocks up 10,000 bbls at 3.63 million bbls
- Gasoil stocks down 40,000 bbls to 13.59 million bbls
Fuel oil stocks in the ARA hub have gained slightly from May’s inventory levels, which were the lowest seen in more than a decade.
The ARA hub has imported 220,000 b/d of fuel oil in June so far, slightly lower than May’s monthly average of 230,000 b/d, according to data from cargo tracker Vortexa.
Most of June’s cargoes have come from Syria (24%), U.S. Virgin Islands (14%) and Colombia (13%).
Meanwhile, ARA has exported around 138,000 b/d of fuel oil in June till date, down from 191,000 b/d in May. Most shipments left for Singapore (32%), U.S. (22%) and Spain (16%).
The region’s independent gasoil inventories - which include diesel and heating oil – have gained 10,000 bbls in June so far compared to May. Gasoil inventories have fallen to their lowest level in around two and a half years.
The ARA hub imported 192,000 b/d of gasoil in June, down from 204,000 b/d imported in May, Vortexa data showed.
Around 34% of June’s shipments have come from the U.S, while the U.K (22%) and Canada (10%) also contributed supplies.
Prompt HSFO and VLSFO availability remains tight in the ARA bunkering hub, because of loading delays at the terminals, a trader said. Lead times of around 7-8 days are recommended for both grades.
LSMGO in the ARA require around six days of notice, the trader added.
By Nachiket Tekawade
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