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Weekly net fuel oil imports dip by nearly 1%
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Fuel oil supplies to Asia in March at highest since Jan 2019 -Refinitiv
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Russian supplies to Asia set record high for second straight month
By Matthew Chye SINGAPORE, March 16 (Reuters) - Residual fuel oil stocks at key trading hub Singapore rose to a three-week high, official data showed on Thursday, while net imports posted a marginal week-on-week dip. Onshore fuel oil stocks rose about 5% to 21.09 million barrels (3.32 million tonnes) in the week ended March 15, Enterprise Singapore data showed. Net fuel oil imports fell nearly 1% to 646,000 tonnes in the same week. Singapore's biggest sources of net fuel oil imports were Kuwait at 119,000 tonnes, followed by Malaysia at 101,000 tonnes and Brazil at 100,000 tonnes.
Top destinations for Singapore's net fuel oil exports were China at 112,000
tonnes, Sri Lanka at 41,000 tonnes and Guam at 34,000 tonnes.
Total fuel oil supplies to Asia, most of which end up in key trading hub
Singapore, were notionally assessed at 6.69 million mt for March, the highest
since January 2019, dominated by record-high Russian-origin inflows on the back
of a European Union ban that became effective from Feb. 5, Refinitiv Oil
Research said this week.
Russian supplies to Asia for March were notionally assessed at 3.64 million
mt, which would set a record high for a second straight month, on the back of
February's previous record of 2.8 million mt, according to Refinitiv.
Mar 15, Fuel oil (in tonnes) Total Imports Total Exports Net Imports
BAHRAIN 80,124 0 80,124
BANGLADESH 0 15,050 -15,050
BRAZIL 99,993 0 99,993
CHINA 0 111,784 -111,784
FINLAND 18,166 0 18,166
GERMANY 18,166 0 18,166
GREECE 97,252 0 97,252
GUAM 0 33,890 -33,890
INDIA 28,851 107 28,744
INDONESIA 19,813 0 19,813
JAPAN 21,473 20,299 1,174
KOREA, REP OF 13,386 0 13,386
KUWAIT 119,384 0 119,384
MALAYSIA 245,178 144,660 100,518
MALTA 75,985 0 75,985
NEPAL 0 103 -103
NEW CALEDONIA 0 3,199 -3,199
PAPUA NEW GUINEA 0 6,913 -6,913
SRI LANKA 0 40,541 -40,541
SWEDEN 56,265 0 56,265
TAIWAN 41,594 0 41,594
THAILAND 0 0 0
UNITED KINGDOM 18,166 0 18,166
UNITED STATES 68,504 0 68,504
TOTAL 1,022,301 376,546 645,755
(Data from Enterprise Singapore)
(Reporting by Matthew Chye; Editing by Edmund Klamann)
