off-the-wire

Singapore middle distillates stocks up as gasoil net exports drop - data

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Trixie Sher Li Yap SINGAPORE, Feb 23 (Reuters) - Singapore's week-on-week middle distillates inventories rose by 6.8% as gasoil net exports fell, data from Enterprise Singapore showed on Thursday. Onshore inventories of middle distillates such as gasoil and jet fuel/kerosene rose to 8.211 million barrels (1.102 million tonnes) in the week ended Feb. 22, the data showed. Weekly net gasoil exports fell to 132,876 tonnes, compared with 144,601 tonnes a week earlier.


Separately, total gasoil imports rose by about 5% week on week to 214,276 tonnes, driven by supplies from China which has been ramping up gasoil exports as the country's refiners cash in on better export margins.


Singapore's total gasoil exports were broadly steady at 347,153 tonnes in the week to Feb. 22, with Australia being the largest receiver of the transportation fuel at 145,951 tonnes.


Singapore's gasoil exports are estimated to be at 692,000 tonnes and will likely close around 1 million tonnes for February, according to Refinitiv Oil Research. Net exports of jet fuel and kerosene totaled 50,818 tonnes, up by around 8% week on week, with volumes mostly heading to Australia, New Zealand and the United States as traders took advantage of an open arbitrage window to send more cargoes to the United States
Feb 22, Jet Total imports Total exports Net exports fuel/kerosene (in
tonnes)
AUSTRALIA 0.0000 29,645.0890 29,645.089 BELGIUM 2.1943 0.0000 -2.194 BRUNEI 0.0000 0.1369 0.137 FIJI 0.0000 7,106.4160 7,106.416 FRANCE 4.8807 0.0000 -4.881 GERMANY 0.0154 0.0000 -0.015 JAPAN 0.0066 0.2100 0.203 MALAYSIA 0.0000 0.1080 0.108 MAURITIUS 0.0000 0.9840 0.984 NEW CALEDONIA 0.0000 2,792.2930 2,792.293 NEW ZEALAND 0.0000 5,015.9420 5,015.942 SRI LANKA 0.0000 4.2082 4.208 TAIWAN 0.0000 0.8820 0.882 THAILAND 0.0000 0.0207 0.021 UNITED STATES 0.0004 6,259.1870 6,259.187 TOTAL 7.0974 50,825.4768 50,818.379 Feb 22, Gasoil (in Total imports Total exports Net exports tonnes)
AUSTRALIA 0.0000 145,951.1170 145,951.117 BRAZIL 0.0010 0.0000 -0.001 CHINA 90,777.2843 0.0000 -90,777.284 HONG KONG 0.0000 0.0088 0.009 FIJI 0.0000 11,712.6440 11,712.644 GUAM 0.0000 14,710.3050 14,710.305 INDIA 0.0100 14.0675 14.058 INDONESIA 0.0000 6,886.5240 6,886.524 KOREA, REP OF 41,157.1410 0.0000 -41,157.141 MALAYSIA 38,510.6380 27,326.4510 -11,184.187 MYANMAR 0.0000 30,670.2650 30,670.265 NEW CALEDONIA 0.0000 7,073.4050 7,073.405 NEW ZEALAND 0.0000 28,039.5520 28,039.552 PAPUA NEW GUINEA 0.0000 2,850.4010 2,850.401 PHILIPPINES 0.0170 0.0000 -0.017 SOUTH AFRICA 0.0000 40,989.1900 40,989.190 SRI LANKA 0.0000 13,803.9950 13,803.995 TAIWAN 43,831.2450 0.0000 -43,831.245 THAILAND 0.0020 0.0000 -0.002 TIMOR-LESTE 0.0000 1,692.9010 1,692.901 UNITED ARAB EMIRATES 0.0020 15,432.0760 15,432.074 UNITED STATES 0.0077 0.0000 -0.008 TOTAL 214,276.3480 347,152.9023 132,876.554 (Data from Enterprise Singapore)
(Reporting by Trixie Yap Editing by Vinay Dwivedi)

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