Commercial fuel oil inventories of major oil terminals in South China added up to 1.84-1.86-mil mt up till Mar 30, inching down 20,000mt from a week ago, 570,000mt higher than one year earlier, C1’s research showed. The volume accounted for 67% of the total storage capacity of the terminals.
About 20,000mt of fuel oil was channeled out from the terminals, flat on week. The outflows included 5,000mt of bonded oil and 15,000mt of inner-trade mixed/cracked 180CST fuel oil.
No fuel oil entered into the terminals during the period.
Chimbusco Pan Nation was originally scheduled to receive a 30,000-mt cargo of Japan mixed/cracked fuel oil in Zhuhai around Mar 28; however, loading was delayed in Japan amid radiation fears. The cargo is expected to arrive early April.
In addition, Kingray cancelled import of a Singapore mixed/cracked fuel oil cargo for Mar 27 delivery to Huangpu because of no buyers, according to a source with a minor refinery.
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.
