The commercial fuel oil inventory of major oil terminals in South China was 1.96-1.98-mil mt in total as of Sep 21, down by 20,000mt from a week ago, 390,000mt higher than a year earlier, C1 research showed.
The inventory takes up 72% of the total storage capacity of the terminals.
About 35,000mt of fuel oil was channeled out from the terminals, down from the previous week’s 64,000mt. In the meantime, around 15,000mt of fuel oil entered the terminals, all of which were for inner trade.
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.
