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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Fuel oil stocks jump in ARA and Singapore

21 Nov 2016 06:19 GMT

ARA 84% increase said to be due to a rise in Rhine water levels and two VLCC cargoes.



Inventories of fuel oil oil held in the Amsterdam-Rotterdam-Antwerp (ARA) region skyrocketed 537,000 tonnes, or 84 percent, to 1.174 million tonnes during the week ending 17th November, according to Dutch consultancy PJK International. It is the highest level in six months.

The stock increase is said to be more the result of logistical circumstances. When the inventory data was measured, two VLCCs were about to load fuel oil cargoes headed for Singapore. Additionally, the rise in water levels along the river Rhine enabled refiners to send a backlog of vessels carrying fuel oil to ARA storage facilities.

In Singapore, meanwhile, fuel oil stocks jumped 15 percent, or 475,000 tonnes, during the seven-day period ending 16th November.

On Friday, the price of 180 centistoke (cSt) benchmark fuel oil strengtened in Singapore. A recent surge in high-viscosity fuel oil cargo arrivals has led to concerns regarding cutter stock availability. With a larger amount of high-viscosity fuel oil now needing to be blended, cutter stocks - and 180 cSt fuel oil - were said to be in relatively short supply.

The front-month viscosity spread on Friday rose $0.50 on Friday to $8.50 per tonne; December's 180 cSt price was $271.75 compared to $263.25 for 380 cSt.

According to Bunker Index price data, the spot Singapore 380 cSt assessment price on Friday was $272.50 per tonne compared to $279.00 per tonne for 180 cSt. In Rotterdam, the 380 cSt price was $26 lower than Singapore, at $246.00 per tonne.






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