(Corrects date in second paragraph)
By Trixie Sher Li Yap
SINGAPORE, March 2 (Reuters) - Inventories of middle
distillates at key trading hub Singapore fell by around 1
million barrels week-on-week despite a decline in net exports,
official data from Enterprise Singapore showed on Thursday.
Onshore middle distillates stock levels, which include
gasoil and jet fuel/kerosene, were at 7.206 million barrels
(0.97 million tonnes) in the week ended March 1, according to
the data. The drop came despite more than a 50% decline in weekly net
exports for both gasoil and jet fuel/kerosene.
However, gasoil export volumes for February from Singapore
remained higher month-on-month, according to Refinitiv Oil
Research.
The higher volumes for February - currently estimated at
1.25 million tonnes, compared with 1.19 million tonnes in
January - are likely due to traders supplying more diesel
regionally with Chinese exports relatively slower this month,
they added.
Separately, total exports of gasoil out of the country for
the week declined around 13% week-on-week to 303,237 tonnes,
with Vietnam and Indonesia being the main receivers.
Total imports, however, rose by 12% week-on-week to 240,425
tonnes.
On the jet fuel/kerosene front, net exports were pegged at
24,456 tonnes, a decline from 50,818 tonnes from a week earlier.
The destinations for most of these exports for the aviation
and heating fuel were New Zealand and Philippines.
Mar 1, Gasoil (in Total imports Total exports Net exports
tonnes)
AUSTRALIA 0.000 30999.405 30999.405
BELGIUM 0.000 58335.634 58335.634
BRAZIL 0.003 0.000 -0.003
CHINA 141139.700 0.000 -141139.700
INDONESIA 0.000 60327.350 60327.350
KOREA, REP OF 0.015 0.000 -0.015
MALAYSIA 73982.293 44211.684 -29770.609
MYANMAR 0.000 24946.762 24946.762
NETHERLANDS 0.000 28465.259 28465.259
NEW ZEALAND 0.000 34668.452 34668.452
PHILIPPINES 0.000 4402.648 4402.648
TAIWAN 25303.055 0.000 -25303.055
THAILAND 0.002 5899.232 5899.230
UNITED ARAB EMIRATES 0.002 0.000 -0.002
UNITED STATES 0.004 0.000 -0.004
VIET NAM 0.001 10980.308 10980.308
TOTAL 240425.074 303236.734 62811.660
Mar 1, Jet fuel/kerosene Total Total Net
(in tonnes) imports exports exports
BELGIUM 11.132 0.000 -11.132
BRUNEI 0.000 0.034 0.034
CHINA 1979.490 0.000 -1979.490
FRANCE 26.837 0.000 -26.837
HONG KONG 0.000 0.019 0.019
INDONESIA 0.000 2.421 2.421
JAPAN 0.000 0.002 0.002
MALAYSIA 0.000 2.840 2.840
NEW ZEALAND 0.000 26469.082 26469.082
VIET NAM 0.000 0.002 0.002
PHILIPPINES 0.000 0.003 0.003
TOTAL 2017.459 26474.403 24456.944
(Reporting by Trixie Yap; Editing by Varun H K)
