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S. China commercial fuel oil inventory slightly falls to 1.77-mil mt

https://www.chemnet.com   Mar 10,2011
Commercial fuel oil inventories of major oil terminals in South China amounted to 1.76-1.78-mil mt up till Mar 9, slightly down 20,000mt from the previous survey, 380,000mt higher than one year earlier, C1's research showed. The volume accounted for 64% of the total storage capacity of the terminals.

About 60,000mt of fuel oil was channeled out from the terminals, up 40,000mt on week. The outflows comprised 10,000mt of mixed/cracked 180CST fuel oil from delivery stocks for futures and 50,000mt of 380CST bunker fuel oil from bonded tank farms.

Meantime, 40,000mt of fuel oil entered into the terminals, flat on week. The resources included 30,000mt of Singapore mixed/cracked fuel oil and 10,000mt of home-blended 180CST fuel oil.

South China commercial fuel oil inventory is expected to drop notably in the rest days of March, because most major importers placed no orders for March cargoes amid falling Singapore mean prices, market sources denoted.

The tank farms involved in C1's survey on commercial fuel oil inventory in Huangpu market include PetroChina Fuel Oil's Zhanjiang oil terminal, Titan's Xiaohudao oil terminal, Zhanjiang Port oil terminal, BP's Nansha oil terminal, Dongguan Jinming oil terminal, Sinochem-Gree oil terminal, Yuehai's Xiaohudao oil terminal, Chimbusco's Zhuhai Guishan oil terminal and Xiji oil terminal. Storage capacity of these tank farms adds up to 2.747-mil cu m.
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