.
-
Jan 4
-
Dec 31
-
Dec 23
-
Dec 22
-
Dec 20
-
Dec 20
-
Dec 14
-
Dec 9
-
Dec 7
-
Dec 2
-
Nov 30
-
Nov 23
-
Nov 22
-
Nov 18
-
Nov 15
-
Nov 2
-
Oct 28
-
Oct 27
-
Oct 14
-
Oct 11
-
Oct 7
-
Oct 6
-
Sep 28
-
Sep 22
-
Sep 16
-
Sep 15
-
Sep 8
-
Sep 7
-
Sep 1
-
Aug 25
-
Aug 19
-
Aug 12
-
Aug 11
-
Aug 6
-
Aug 5
-
Jul 28
-
Jul 19
-
Jul 16
-
Jul 14
-
Jul 9
-
Jul 1
-
Jun 22
-
Jun 17
-
Jun 16
-
Jun 10
-
Jun 9
-
Jun 3
-
Jun 2
-
May 27
-
May 24
-
May 17
-
May 13
-
May 11
-
May 10
-
May 7
-
May 6
-
Apr 30
-
Apr 29
-
Apr 21
-
Apr 21
-
Apr 8
-
Apr 6
-
Mar 24
-
Mar 18
-
Mar 16
-
Mar 15
-
Mar 11
-
Mar 8
-
Mar 2
-
Feb 26
-
Feb 23
-
Feb 18
-
Feb 5
-
Feb 3
-
Jan 28
-
Jan 26
-
Jan 21
-
Jan 19
-
Jan 12
-
Jan 6
-
Dec 29
-
Nov 26
-
Nov 24
-
Nov 12
-
Nov 3
-
Oct 28
-
Oct 26
-
Oct 21
-
Oct 13
-
Oct 8
-
Oct 6
-
Sep 24
-
Sep 17
-
Sep 8
-
Sep 2
-
Aug 31
-
Aug 27
-
Aug 21
-
Aug 19
-
Aug 13
-
Aug 5
-
Aug 3
-
Jul 28
-
Jul 23
-
Jun 25
-
Jun 4
-
May 27
-
May 22
-
May 15
-
May 6
-
May 4
-
Apr 30
Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub jumped 18 % to 1.604 million mt in the seven days to Wednesday, according to data from Insights Global, reaching a fresh 22-month high as the impact of the coronavirus pandemic continues to be felt.
The Insights Global data does not provide a breakdown between fuel oil types.
The rise in stocks offset a decline the previous week, bringing stocks to levels not seen since June 28, 2018 when they were at 1.614 million mt.
Other products such as gasoline and jet have seen demand slump to a greater extent than fuel oil as a result of the coronavirus pandemic, with ship operations still ongoing as seaborne transport makes up the majority of global trade, bolstered by demand for floating storage which has been popular for clean products but less so for fuel oil.
Some dirty tanker owners West of Suez are cleaning their vessels to load clean petroleum products, as the clean tanker market booms on tightened tonnage lists and floating storage demand. However, a European source noted that if the contango on fuel oil steepens to around $20/mt the incentive for cleaning vessels will lessen.
When in-land stocks become saturated the market will need to take to floating storage, which sources have noted in the last few weeks was uneconomic.
Looking at the forward curve for VLSFO, the product is in steep contango with an emphasis on the prompt. Between the front month and month two, there is a minus $16.00/mt structure, assessed Thursday, which gives strong support to storage in the near future. The rest of the curve for 2020 and 2021 also anticipates strengthening values over time, albeit at a slower pace.
In the downstream bunkers market, intraday price volatility on the back fluctuating crude prices characterized the week. Demand for bunkering was heard to be moderate as ship operations remain resilient despite the pandemic.
Platts ,