The commercial fuel oil stockpiles at Shandong's major ports added up to about 871,000mt on Sep 14, up by around 39,000mt from one week ago, C1 learned from port sources.
These stockpiles accounted for around 29.4% of the storage capacity of the commercial tank farms at these ports.
Stockpiles declined by around 20,000mt at Longkou port, but those gained 10,000mt at Rizhao port and 49,000mt at Qingdao port. The stockpiles at Laizhou port were stable.
About 140,000mt of fuel oil reached Shandong in the week, up by 120,000mt week on week. Among these products were 130,000mt for Qingdao port and 10,000mt for Rizhao port.
Meanwhile, around 101,000mt of fuel oil was taken out of these ports, down by 49,000mt week on week. About 81,000mt was delivered from Qingdao port and 20,000mt from Longkou port.
These stockpiles are expected to be largely stable in the coming week.
The tank farms involved in C1's research on commercial fuel oil inventories in Shandong market comprise Qingdao Port Bureau tank farm, Laizhou Oriental Tank Farm, Longkou Bingang tank farm, Rizhao Haiming tank farm and Penglai Anbang tank farm. The storage capacity of these tank farms adds up to 2.96-mil cu m.
