Gasoil and jet fuel/kerosene inventories at onshore storage facilities were at 9.009 million barrels (1.209 million tonnes) in the week of April 5, according to the data from Enterprise Singapore.
The drop came in line with a 23% increase in net export volumes for gasoil.
On the gasoil front, exports were mostly heading to the Philippines, Myanmar and Australia.
Import volumes from Russia was one of the key contributors to total imports rising by around 41% week on week, with 46,000 tonnes of material coming into Singapore.
Refinitiv and Vortexa shiptracking data show that it likely came from Nakhodka port, but the exact charterer for the cargo could not be confirmed. The pace of the inventory draw down was slowed down by a fall in net export volumes for jet fuel/kerosene.
Jet fuel/kerosene import volumes surpassed export volumes, with at least 36,000 tonnes of imports from South Korea in the week contributing to it. "The (Asian) region continues to lag the rest of the world in terms of aviation demand, and this will continue to cap jet fuel demand growth," said Refinitiv Oil Research.
Exports for jet fuel/kerosene were headed for Vietnam, Fiji and Australia.
Apr 5, Gasoil (in Total Total Net
tonnes) imports exports exports
AUSTRALIA 0 40682.501 40682.501
CAMBODIA 0 21373.511 21373.511
CHINA 37878.7463 0 -37878.74
63
FINLAND 0.002 0 -0.002
FRANCE 0.0022 0 -0.0022
GUAM 0.0012 0 -0.0012
HONG KONG 0 25747.013 25747.013
INDIA 0.016 0 -0.016
INDONESIA 0 4195.965 4195.965
ITALY 0.004 0 -0.004
JAPAN 0.0042 0 -0.0042
KOREA, REP OF 22114.19 0 -22114.19
MALAYSIA 26341.285 21341.207 -5000.078
MYANMAR 0 41844.214 41844.214
PAPUA NEW GUINEA 0 30529.095 30529.095
PHILIPPINES 0.003 64619.847 64619.844
RUSSIA 46313.124 0 -46313.12
4
SEYCHELLES 0 26483.351 26483.351
SOLOMON ISLANDS 0 909.708 909.708
THAILAND 0 14060.995 14060.995
UNITED ARAB 0.021 0 -0.021
EMIRATES
UNITED STATES 1 28682.544 28681.544
TOTAL 147646.3959 377343.729 229697.33
31
WoW % change 40.66679173 29.57354324 23.322172
95
Apr 5, Jet fuel/kerosene Total Total Net
(in tonnes) imports exports exports
AUSTRALIA 0 5995.4449 5995.4449
CANADA 0.285 0 -0.285
FIJI 0 7297.624 7297.624
FRANCE 14.9359 0 -14.9359
GERMANY 0.0106 0 -0.0106
INDONESIA 0 0.1 0.1
KOREA, REP OF 36703.64 0 -36703.64
MALAYSIA 0 3.1693 3.1693
MAURITIUS 0 0.328 0.328
NEW CALEDONIA 0 999.381 999.381
NEW ZEALAND 0 5751.838 5751.838
PHILIPPINES 0 1064.226 1064.226
QATAR 0 0.678 0.678
THAILAND 0 0.011 0.011
VIET NAM 0 10375.496 10375.496
UNITED STATES 0.01 0 -0.01
TOTAL 36722.4724 31488.2962 -5234.176
2
WoW % change 513.599627 -16.1730567 -116.5750
2 243
(Reporting by Trixie Yap; Editing by Rashmi Aich)
