off-the-wire

Singapore middle distillates stocks highest since end-2021 on declining exports - data

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Trixie Sher Li Yap SINGAPORE, March 16 (Reuters) - Inventories of middle distillates in key trading hub Singapore spiked to the highest level since November 2021 on the back of declining net export volumes for gasoil, official data from Enterprise Singapore showed on Thursday.


Onshore stockpiles of gasoil and jet fuel/kerosene were at 9.452 million barrels (1.268 million tonnes) in the week ended March 15, the data showed. The increase was attributed to a 58.4% on week drop in net export volumes for gasoil.


Total gasoil imports into Singapore surged 99% week on week, with total export volumes edging up just around 6%. The key contributor countries for these import volumes were South Korea, Malaysia and Taiwan. On the export front, cargoes loaded from Singapore were bound for Malaysia and Indonesia.


Gasoil exports from Singapore for March are expected at around 1.2 million tonnes, said Refinitiv Oil Research.


Around 668,000 tonnes of gasoil have been loaded so far from Singapore for March, Refinitiv shiptracking data showed.


On the jet fuel/kerosene front, total exports stood at 72,364 tonnes, an increase from 49,476 tonnes a week ago - capping the increase of overall inventories.
Mar 15, Jet fuel/kerosene Total Total Net (in tonnes) imports exports exports AUSTRALIA 0 48427.086 48427.086 BRUNEI 0 0.02 0.02 CANADA 0.0764 0 -0.0764 FIJI 0 3230.779 3230.779 FRANCE 38.122 0 -38.122 GERMANY 0.394 0 -0.394 GREECE 0.0014 0 -0.0014 INDONESIA 0 5.537 5.537 JAPAN 2.742 0 -2.742 MALAYSIA 2 2.9973 0.9973 MAURITIUS 0 0.002 0.002 NEW CALEDONIA 0 2893.837 2893.837 NEW ZEALAND 0 6195.964 6195.964 PHILIPPINES 0 1064.208 1064.208 SAMOA 0 399.15 399.15 SWEDEN 0.0297 0 -0.0297 TAIWAN 0 10.2133 10.2133 TIMOR-LESTE 0 12.8 12.8 UNITED KINGDOM 0.5 0 -0.5 UNITED STATES 0.0302 10121.079 10121.048 8 VIET NAM 0 0.1057 0.1057 TOTAL 43.8957 72363.7783 72319.882 6 WoW % change -99.41 46.26 71.84
Mar 15, Gasoil (in Total Total Net tonnes) imports exports exports AMERICAN SAMOA 0 4042.653 4042.653 AUSTRALIA 0 51449.433 51449.433 BRAZIL 0.006 0 -0.006 CHINA 28801.2851 0 -28801.28 51 CAMBODIA 0 2191.781 2191.781 FIJI 0 5172.49 5172.49 INDONESIA 0 10269.052 10269.052 JAPAN 41902.96 0 -41902.96 KOREA, REP OF 139894.763 0 -139894.7 63 MALAYSIA 76481.528 135910.5557 59429.027 7 MALDIVES 0 9270.5521 9270.5521 MYANMAR 0 59777.723 59777.723 NETHERLANDS 0 21483.194 21483.194 NEW CALEDONIA 0 7455.712 7455.712 NEW ZEALAND 0 20446.599 20446.599 NORTHERN MARIANA 0 38.05 38.05 ISLANDS
PAPUA NEW GUINEA 0 8365.348 8365.348 PHILIPPINES 0 53627.982 53627.982 SAMOA 0 5268.703 5268.703 SRI LANKA 0 27545.424 27545.424 TAIWAN 68436.901 0 -68436.90 1 UNITED ARAB 1.0075 0 -1.0075 EMIRATES
UNITED STATES 0.0019 39182.313 39182.311 1 TOTAL 355518.4525 461497.5648 105979.11 23 WoW % change 99.17 6.46 -58.44


(Reporting by Trixie Yap; Editing by XX)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.