The ARA’s independently held fuel oil stocks dropped by 5% in October to their lowest monthly average of the year, according to Insights Global data.

Changes in monthly average ARA stocks from September to October:

• Fuel oil stocks down 340,000 bbls to 5.88 million bbls
• Gasoil stocks up 510,000 bbls to 16.76 million bbls

The region imported 103,000 b/d of fuel oil in October, sharply down from the 250,000 b/d imported in September, according to cargo tracker Vortexa. The cargoes mainly came from Lithuania (20%), France (17%) and the UK (13%).

Meanwhile, the ARA exported 281,000 b/d of fuel oil in October, more than double September’s 147,000 b/d. Most shipments departed for the UK (15%), Morocco (14%), Spain (13%), Guyana and the US (12% each).

The region’s independent gasoil inventories - which include diesel and heating oil – increased by 3% in October compared to September, according to the Insights Global data.

The ARA imported 248,000 b/d of gasoil in October, increasing from the 209,000 b/d imported in September, according to Vortexa data.

India emerged as the region's top supplier of gasoil in October, accounting for around 47% of shipments, followed by the US (14%) and France (13%).

Availability of HSFO and LSMGO is tight in the ARA bunkering hub as suppliers are facing reloading delays. More than a week's notice is recommended for deliveries of both grades, a trader said. VLSFO continues to require at least 5-7 days for delivery, the trader added.

By Nachiket Tekawade

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