off-the-wire

Singapore middle distillates stocks hit more than one-month high on Feb imports

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Trixie Sher Li Yap and Matthew Chye SINGAPORE, March 9 (Reuters) - Middle distillates stockpiles held in key trading hub Singapore are at more than a one-month high on higher total imports for February, despite a weekly increase in net exports, official data from Enterprise Singapore showed on Thursday.


Onshore middle distillates inventories, which mainly comprise gasoil and jet fuel/kerosene, were pegged at 8.898 million barrels (1.194 million tonnes) in the week ended March 8, the data showed. The stock build-up for the week follows high import volumes for the whole of February, estimated at around 2.34 million tonnes by Refinitiv Oil Research, despite higher net export volumes week on week for both gasoil and jet fuel/kerosene. Most of the import volumes came from China, according to shiptracking data from Refinitiv, in line with the rise in exports shown in that country's custom data records.


Total gasoil exports out of Singapore for the week were at 433,475 tonnes, compared with 303,237 tonnes a week earlier. Key receivers for these exports were Malaysia and Myanmar.


Total imports for the transportation and industrial fuel were at 178,500 tonnes, down from 240,425 tonnes the previous week.


Separately, for jet fuel/kerosene, total imports rose for a second consecutive week to 7,390 tonnes, with Malaysia being the key contributor to the volumes. Mar 8, Jet fuel/kerosene Total Total Net (in tonnes) imports exports exports GERMANY 8.7447 0.0000 -8.7447 HONG KONG 0.0000 0.0001 0.0001 INDONESIA 0.0000 5.5923 5.5923 JAPAN 0.0000 0.0600 0.0600 MALAYSIA 7374.0680 281.2850 -7092.783 0 NEW ZEALAND 0.0000 41572.6760 41572.676 0 SWEDEN 0.0347 0.0000 -0.0347 TAIWAN 0.0000 0.0013 0.0013 THAILAND 0.0000 7616.2989 7616.2989 UNITED KINGDOM 6.6683 0.0000 -6.6683 UNITED STATES 0.0302 0.0000 -0.0302 VIETNAM 0.0005 0.0000 -0.0005 TOTAL 7389.5464 49475.9136 42086.367 2 Mar 8, Gasoil (in Total imports Total exports Net exports tonnes)
AUSTRALIA 0.0020 40825.5890 40825.5870 BANGLADESH 0.0000 32983.3850 32983.3850 BRAZIL 0.0035 0.0000 -0.0035 CAMBODIA 0.0000 14819.3250 14819.3250 CHINA 70194.6942 0.0000 -70194.6942 FRANCE 0.0007 0.0000 -0.0007 GERMANY 0.0003 0.0000 -0.0003 ITALY 0.0000 0.0450 0.0450 INDIA 0.0140 0.0000 -0.0140 KOREA, REP OF 32065.5210 0.0000 -32065.5210 LITHUANIA 0.0224 0.0000 -0.0224 MALAYSIA 10385.9270 115959.0340 105573.1070 MYANMAR 0.0000 97852.0680 97852.0680 NAMIBIA 0.0000 22000.8350 22000.8350 NEW ZEALAND 0.0000 29583.8730 29583.8730 PAPUA NEW GUINEA 0.0000 31789.9990 31789.9990 PHILIPPINES 0.0001 4375.7780 4375.7779 SOLOMON ISLANDS 0.0000 806.7240 806.7240 SOUTH AFRICA 0.0000 10501.2790 10501.2790 TAIWAN 65853.7690 0.0000 -65853.7690 UNITED ARAB EMIRATES 0.0040 0.0000 -0.0040 UNITED STATES 0.0020 21477.2560 21477.2540 VIETNAM 0.0000 10499.9610 10499.9610 TOTAL 178499.9602 433475.1510 254975.1908


(Reporting by Trixie Yap and Matthew Chye; Editing by Tom Hogue)

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