The ARA’s independently held fuel oil stocks have averaged 9% lower coming into September than across August, according to Insights Global data.

Changes in monthly average ARA stocks from August to September (so far): 

• Fuel oil stocks down 790,000 bbls to 7.82 million bbls
• Gasoil stocks up 1.67 million bbls to 18.34 million bbls

The region has imported 99,000 b/d of fuel oil in September so far, down from 223,000 b/d imported in August, according to data from cargo tracker Vortexa. The ARA has imported low-sulphur fuel oil (LSFO) and HSFO in a 56/44 ratio coming into this month, continuing the same tilt from August when the ratio was 53/47.

The UK has emerged as the ARA’s biggest fuel import source coming into this month, accounting for 48% of the total imports so far. Poland has ranked second, accounting for 44% of the ARA's total imports, followed by Germany with 7% of the region's total imports.

The ARA hub has exported 82,000 b/d of fuel oil so far this month, down from 143,000 b/d of fuel oil exported in August. Fuel oil cargoes have mostly departed for Norway (27%), Singapore (26%), Germany (20%), Senegal (11%) and France (8%). 

The ARA hub’s independent gasoil inventories — which include diesel and heating oil — have gained by 10% coming into this month. The region has imported 459,000 b/d of gasoil in September so far, up from 355,000 b/d of gasoil imported in August, according to Vortexa data.

Oman has become the ARA hub’s top import source of gasoil and diesel, accounting for 29% of the region’s total imports coming into September. Cargoes have also arrived from the US and the UAE (28% each) and Turkey (10%).

By Manjula Nair

Please get in touch with comments or additional info to news@engine.online