Fuel oil inventories in major commercial tank farms of East China amounted to 320,000mt Wednesday, flat with one week ago, C1's research showed. The volume accounted for 29.6% of the total fuel oil containing capacity.
Aoshan Oil Tank Farm in Zhoushan City of Zhejiang Province held 120,000mt of fuel oil stock, down 25,000mt on week, a source with the terminal revealed. The terminal received no foreign fuel oil cargoes in the past week.
Yangshan oil terminal in Shanghai recorded 150,000mt of fuel oil stock, up 20,000mt on week.
Fuel oil stock of Haibin oil terminal stayed unchanged at 20,000mt and that of Chenghui oil terminal slightly built 5,000mt to 30,000mt.
East China commercial fuel oil stock is expected to fall in the coming week because of steady demand from bonded bunker market and deep processing plants against limited arrivals of new cargoes, market sources predicted.
East China commercial fuel oil tank farms surveyed by C1 include Yangshan Tank Farm and Haibin Tank Farm in Shanghai, Aoshan Tank Farm in Zhejiang and Chenghui Tank Farm in Jiangsu, with storage capacities totaling 1.08-mil cu m.
