The commercial inventory of fuel oil in major tank farms in East China totaled 460,000mt on Wednesday, up by 110,000mt or 31.4% from a week ago, according to C1's research.
The stock accounts for 42.5% of the total storage capacity, a rise of 13 percentage points from a year ago.
Aoshan oil terminal held 260,000mt of fuel oil, up by 80,000mt from a week ago. The terminal received a 120,000-mt Venezuela cargo around Sep 15, said a terminal source.
The stock of Yangshan oil terminal in Shanghai increased by 30,000mt to 100, 000mt thanks to inflows of bonded bunker fuel oil.
The inventories of Haibin oil terminal and Chenghui terminal stayed unchanged at 20,000mt and 80,000mt, respectively.
C1’s research involves four major terminals in Shanghai and Zhejiang with storage capacities totaling 1.08-mil cu m.
