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Latest storage news


Terminal News
December 4, 2017
HES International’s terminal segment geared for further growth
Further growth is planned for HES International's portfolio of tank terminals after the company doubled its tank capacity.The company's HES Botlek Tank Terminal in the Port of Rotterdam has taken into service an additional 277,000 m3 of tank capacity, take its total capacity to 490,000 m3...

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Further growth is planned for HES International's portfolio of tank terminals after the company doubled its tank capacity.

The company's HES Botlek Tank Terminal in the Port of Rotterdam has taken into service an additional 277,000 m3 of tank capacity, take its total capacity to 490,000 m3. Additionally, it also expected to start construction of an additional 130,000 m3 of tank space shortly. The most essential permits and commercial agreements are already in place for it.

HES will build a new jetty to accommodate tankers up to Suezmax size to support the expansion of the terminal.

The company recently completed the acquisition of the asphalt and bitumen terminal from Valt.

Jan Vogel, CEO of HES, says: 'HES International has a long standing history and a strong track record in providing safe and reliable storage and port infrastructure at key locations in Europe.

'The realisation of these key infrastructure projects but also our recent acquisition from Valt are a central part of this strategy. We are equally excited that we see similar developments and opportunities at most of our other terminals.'



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Terminal News
December 4, 2017
Fujairah: Oil product stocks rise 5%
Total refined product stocks at the UAE port of Fujairah stood at 16.665 million barrels in the week to November 27, up 5% from the previous week, according to data from the Fujairah Energy Data Committee, or FEDCom. After hitting a record low on November 13, stocks have risen by 10% in two weeks on the back of a rebound in heavy distillate volumes, S&P Global Platts Analytics said in a report...

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Total refined product stocks at the UAE port of Fujairah stood at 16.665 million barrels in the week to November 27, up 5% from the previous week, according to data from the Fujairah Energy Data Committee, or FEDCom.

After hitting a record low on November 13, stocks have risen by 10% in two weeks on the back of a rebound in heavy distillate volumes, S&P Global Platts Analytics said in a report.

Stocks of light distillates fell by 9.1 % week on week to 4.267 million barrels, but have remained largely range bound over the past two months, the data showed.

Globally, petrol trading activity saw a lull recently due to the Thanksgiving holiday in the US.

Stocks of middle distillates fell by 2.7% week on week to 1.49 million barrels, marking the second consecutive record low for middle stocks.

Stocks of heavy distillates and residues rose by 13.1% week on week to 10.908 million barrels, the data showed. Stocks climbed above 10 million barrels for the first time in nine weeks, and are up by 31% from a nine-month low of 8.32 million barrels on November 13.

A backwardated market structure has weighed against holding fuel oil in storage, but this has moderated recently. The front month backwardation in Arab Gulf 180 CST swaps has narrowed to an average of $1.10/mt so far this month, compared with $1.73/mt in October and $2.02/mt in September.

Cargoes moving from the Middle East to Singapore are estimated at 2.5 million mt for November and will likely edge higher in December, with Singapore fuel oil prices currently $7-$8/mt above the Arab Gulf. Added to this, the Fujairah bunker market is still seeing sluggish demand, with less regional need for fuel oil in power generation due to the winter season, Platts Analytics said.



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General News
November 28, 2017
New Tank Storage Suppliers Directory launched
Easyfairs, the organiser of StocExpo Europe, Tank Storage Asia, StocExpo Middle East Africa, Tank Storage Germany, Tank Storage Magazine and the Global Tank Storage Awards has added a comprehensive Suppliers Directory to its ever-growing portfolio. The Tank Storage Suppliers Directory will go live at the beginning of 2018 and will be a fully searchable list of every equipment supplier and service provider in the tank storage industry...

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Easyfairs, the organiser of StocExpo Europe, Tank Storage Asia, StocExpo Middle East Africa, Tank Storage Germany, Tank Storage Magazine and the Global Tank Storage Awards has added a comprehensive Suppliers Directory to its ever-growing portfolio.

The Tank Storage Suppliers Directory will go live at the beginning of 2018 and will be a fully searchable list of every equipment supplier and service provider in the tank storage industry.

The directory will be free for all users in the tank terminal industry and will be fully mobile-responsive.

By making use of Easyfairs’ global database of over 80,000 storage professionals, everyone in the industry will have access to the Tank Storage Directory.

The Suppliers Directory is the first step in the launch of the all-new Tank Storage Intelligence platform. Due to be launched in early 2018, Tank Storage Intelligence will be the central online information portal for everything you need to know about the tank storage sector.

The Tank Storage Suppliers Directory will be promoted via the industry leading publication Tank Storage Magazine at over 35 storage events globally, including exclusive delegate bag distribution at ILTA, NISTM, FETSA’s annual general meeting and all Easyfairs events.

Suppliers and service providers can appear in the directory for just €250. Each company will be listed in up to three categories and listings include a company logo, description, contact details, email address, social media links and the ability to upload a photograph.

Limited platinum options are also available. These give companies the opportunity to always appear at the top of the search listing in their chosen category, be highlighted, include an extended company listing and upload press releases and other company literature.

For further details on the Tank Storage Suppliers Directory, visit the Tank Storage Magazine stand F22 at Tank Storage Germany or contact Margaret Dunn on Margaret@tankstoragemag.com or +44 7905273691. Alternatively contact Nick Powell, Divisional Director, Easyfairs at the Tank Storage Lounge at Tank Storage Germany or at Nick@stocexpo.com



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Terminal News
November 27, 2017
Saudi Aramco & SABIC to develop crude oil & chemicals complex
Saudi Aramco and SABIC have signed a MoU to develop a fully integrated crude oil to chemicals complex in Saudi Arabia.The complex is expected to process 400,000 barrels per day of crude oil, which will produce 9 million tonnes of chemicals and base oils annually and is expected start operations in 2025...

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Saudi Aramco and SABIC have signed a MoU to develop a fully integrated crude oil to chemicals complex in Saudi Arabia.

The complex is expected to process 400,000 barrels per day of crude oil, which will produce 9 million tonnes of chemicals and base oils annually and is expected start operations in 2025.

Saudi Aramco president and CEO Amin Nasser says: 'This project converges the commercial and strategic interests of both Saudi Aramco and SABIC, while reinforcing Saudi Aramco's efforts to optimise the investment of our petroleum resources. The complex will also help expand our downstream portfolio, reducing our focus on the transportation sector and securing new and promising commercial opportunities.'

The complex will be constructed based on an innovative configuration that achieves crude oil to chemicals conversion that is unprecedented in the industry.

The project will support the creation of a world-leading downstream sector in Saudi Arabia, as part of the Kingdom's Vision 2030 economic transformation programme.



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Terminal News
November 27, 2017
Viva Energy commissions new crude oil tank
Viva Energy Australia has opened its new 100 million litre crude oil tank at its Geelong Refinery.The $50 million crude oil tank project was a significant growth investment for the refinery, which will not only increase its production capabilities, but also improve fuel supply security for Victoria...

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Viva Energy Australia has opened its new 100 million litre crude oil tank at its Geelong Refinery.

The $50 million crude oil tank project was a significant growth investment for the refinery, which will not only increase its production capabilities, but also improve fuel supply security for Victoria.

Viva Energy GM Refining Thys Heyns, says: 'This tank increases our crude storage capacity by 40% and in fact can hold enough crude oil to produce all the fuel required to meet Victoria's needs for about three days.

'In addition to the tank, we've invested millions in other infrastructure projects such as the $23 million pumping station, which increases the amount of fuel transported by pipeline to Melbourne by 25% and a $4 million upgrade to our jet fuel gantry to improve supply to Melbourne and Avalon airports.'

Additionally, Viva Energy has also announced it has been given approval to build a $15 million bitumen export facility, a $23 million, 25 million litre petrol tank and a $7 million revamp of its crude distillation unit furnace.

Heyns adds: 'All of these projects further demonstrate our commitment to build a sustainable business in Geelong and support our customers in Victoria.'



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Terminal News
November 27, 2017
StocExpo signs new partnership deal with Federation of European Tank Storage Associations
StocExpo & Tank Storage Events are delighted to announce a strategic partnership with the Federation of European Tank Storage Associations (FETSA), that sees the world's largest provider of tank storage exhibitions and conferences working with Europe's leading Association for the oil and gas storage sector...

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StocExpo & Tank Storage Events are delighted to announce a strategic partnership with the Federation of European Tank Storage Associations (FETSA), that sees the world's largest provider of tank storage exhibitions and conferences working with Europe's leading Association for the oil and gas storage sector.

The partnership will see the two entities enriching content and growing FETSA's yearly Annual General Meeting, which addresses the needs of the European storage sector. This year's AGM is to be held in Gothenburg, Sweden in June 2018.

StocExpo is the largest portfolio of tank storage events, which take place across Europe, Asia, The Middle East and Africa, and bring together thousands of tank storage professionals from across the regions to network and conduct business. FETSA represent the European national tank storage associations that operate in the bulk liquid storage sector. Over the coming years, this collaboration will undoubtedly benefit the sector by bringing together communities and delivering world class events.

Marc de Witte, Executive Director, FETSA, says: 'I'm looking forward to taking this year's AGM to Gothenburg, bringing our members together and welcoming new attendees. We have a valued relationship with the StocExpo portfolio and it's great to bring our organisations together as we continue to serve the tank storage community.'

Nick Powell, Divisional Director, StocExpo & Tank Storage portfolio adds: 'I'm delighted to be working in collaboration with FETSA and very much look forward to seeing the events grow over the coming years. This new synergy will also allow attendees to book their place at both FETSA and StocExpo events together and benefit from preferential rates.'

To find out more about StocExpo Europe or to register to attend please visit, www.stocexpo.com. To find out about FETSA visit www.fetsa.eu.



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Terminal News
November 27, 2017
Inter Terminals’ chemical storage expansion nears completion
Inter Terminals' major chemical storage expansion at its Seal Sands terminal in the UK is almost complete.Representing the largest organic development project for 10 years, the project comprises new tanks and pipeline links on the back of contracted demand for chemical storage at the facility...

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Inter Terminals' major chemical storage expansion at its Seal Sands terminal in the UK is almost complete.

Representing the largest organic development project for 10 years, the project comprises new tanks and pipeline links on the back of contracted demand for chemical storage at the facility.

Two 7,000 m3 mild steel tanks have been constructed with internal floating roods and a dedicated import pipeline for receiving product into storage by sea. Additionally, an existing cross-country pipeline is being redeveloped to allow the direct transfer of stored product to nearby chemical manufacturing plants.

A further three mild steel tanks, with a total capacity of 13,000 m3, have also been built with interconnecting infrastructure to enable to export of product by sea and by road via a new tanker loading facility.

The facility is located on the River Tees on England's east coast and the investment demonstrates the company's commitment to working closely with its customer base to identify and develop solutions for specific product storage and handling requirements.

Paul Oseland, commercial director of Inter Terminals, says: 'Our Seal Sands terminal has developed specialist expertise in storing and handling a wide range of chemicals, many of which have distinct storage requirements.'



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Terminal News
November 27, 2017
Fujairah: Oil product stocks rise despite new low for middle distillates
Total refined product stocks at the UAE port of Fujairah stood at 15.864 million barrels in the week to November 22, up 5.1% from the previous week, despite a major drop in middle distillates, according to data from the Fujairah Energy Data Committee (FEDCom)...

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Total refined product stocks at the UAE port of Fujairah stood at 15.864 million barrels in the week to November 22, up 5.1% from the previous week, despite a major drop in middle distillates, according to data from the Fujairah Energy Data Committee (FEDCom).

Stocks of middle distillates plunged by almost 28% to just 1.531 million barrels, a new record low, and less than half the 3.47 million barrel average for the year so far, according to a report by Platts Analytics.

The latest inventory fall comes as the arbitrage opportunity to move gasoil to Europe is firmly closed, with the East-West Gasoil EFS at a near three-month low of minus $10.32/mt on Tuesday. While the gasoil market has been the weakest performing part of the barrel in recent weeks, both Singapore and Persian Gulf time spreads have strengthened as regional demand improves.

The front-month time spread for Arab Gulf Gasoil has been in a contango since the beginning of November, up from a recent low of minus $1.47/b two weeks ago. On the supply front, sources noted a steady stream of outflows from India and the Middle East in recent weeks. Kuwait Petroleum Corp. is closing a sell tender for 500 ppm sulfur gasoil loading over December 8-9.



FUEL OIL STOCKS STILL LOW

At the same time, stocks of heavy distillates and residues rose by 16% to 9.641 million barrels, a new eight-week high. However, the figure is still below the 10.3 million barrel average since the start of the year.

Fuel oil inventories have been low since the beginning of October amidst a backwardated market structure and sluggish bunker demand. On average, some 2 million mt has left the region each month for Asia, and this is expected to continue into December, Platts Analytics said, as the price incentive for fuel oil supplies to the east remains in place. Front-month Singapore 380 CST swaps have seen a premium of around $7-8/mt relative to Arab Gulf 180 CST for the past month.

Light distillate stocks showed the least variation this week, only edging up 0.9% to 4.692 million barrels. European gasoline has been heading to West Africa and the US, which could signal a more limited supply to meet healthy Middle Eastern demand. Asian supply was seen trending upwards on increased Chinese export volumes expected in November and into December. However, this is likely to be matched by strong demand in Indonesia, Sri Lanka and Vietnam. As a result, the outlook for petrol East of Suez looks unchanged, Platts Analytics said.



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Terminal News
November 27, 2017
The tank storage industry launches the largest network of tank terminal professionals
The Global Tank Storage Association (GTSA), designed by the industry, for the industry, has been officially launched. Created to represent the needs of the terminal industry worldwide, the GTSA provides a platform for members to share and exchange information on its core values, such as the environment, safety and security...

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The Global Tank Storage Association (GTSA), designed by the industry, for the industry, has been officially launched. Created to represent the needs of the terminal industry worldwide, the GTSA provides a platform for members to share and exchange information on its core values, such as the environment, safety and security.

By creating the world's biggest network of tank terminal professionals, the GTSA will have the power to have a meaningful impact on regulations and proposals affecting the storage sector.

The GTSA will also strive to internationally publicise and address the issues impacting its members globally.

The impressive Board of Directors is made up of CEOs and influential thought leaders from major terminals in all the key storage regions across the globe.

The Board of Directors currently includes:

  • Pieter Bakker, Director, Buckeye, USA
  • Jaap Koomen, General Manager, Burgan Cape Terminals, South Africa
  • Yusr Sultan, Managing Director for Terminals, Emirates National Oil Company
  • Martyn Lyons, CEO, Inter Terminals
  • John W. Schlosser, President, Kinder Morgan Terminals
  • Walter E. Wattenbergh, Group CEO, LBC Terminals
  • Frank Erkelens, CEO, Odfjell Terminals
  • Douglas van der Wiel, President, Oiltanking Asia
  • Guy Bessant, President, Stolthaven Terminals
  • Martijn Notten, CEO, Vesta Terminals
  • Siavash Alishahpour, Managing Director, VTTI Fujairah Terminals

The association will be run by the Board of Directors. The Chairman will be announced following the Board's first meeting in London in December 2017.

The Global Tank Storage Association is open to everyone in the tank storage sector and is free to join.

Benefits of becoming a member of the GTSA include:

  • Updates from the Board of Directors progress regarding global initiatives for the industry.
  • A platform for members to share and exchange information on GTSA core values, such as: environment, safety and security.
  • Monthly e-newsletter containing terminal news & information on industry updates.
  • Monthly regulatory updates.
  • Reduced subscription price for Tank Storage Magazine, the voice of the storage terminal industry.
  • Reduced subscription price for Tank Storage Intelligence, the central online information portal for everything relating to tank storage.
  • VIP invitation to all StocExpo & Tank Storage events.
  • Preferential rates on delegates passes to StocExpo Europe, Tank Storage Germany, StocExpo Middle East Africa & Tank Storage Asia.
  • Preferential rates on exhibition stands at StocExpo Europe, Tank Storage Germany, StocExpo Middle East Africa & Tank Storage Asia.
  • Preferential rates for seats at the Global Tank Storage Awards.
  • Hear about networking opportunities & special offers before anyone else.

To find out more about the GTSA or to join, please contact Margaret Dunn, Director General, Global Tank Storage Association on +44 7905 273691 or Nick Powell, Executive Director, Global Tank Storage Association: +44 7920 408587



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Terminal News
November 22, 2017
Dialog plans to expand Langsat Terminal
The Dialog Group plans to expand Langsat Terminal (Three) into a 300,000 m3 storage facility.In its first quarter 2018 financials the company says that it increased its stake in Langsat Terminal (One) and Langsat Terminal (Two), both providing centralised tankage and terminal facilities in Tnajung Langsat Johor...

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The Dialog Group plans to expand Langsat Terminal (Three) into a 300,000 m3 storage facility.

In its first quarter 2018 financials the company says that it increased its stake in Langsat Terminal (One) and Langsat Terminal (Two), both providing centralised tankage and terminal facilities in Tnajung Langsat Johor.

The expansion of Langsat Terminal (Three) is part of its strategy to grow sustainable and recurring income and further enhancing shareholders' value in the long term.

As previously reported, Dialog's Pengerang Deepwater Terminal phase 1 is being expanded with an additional 430,000 m3. The construction of phase 2 is on schedule and it is securing new potential partners for phase 3, which will include the development of industrial land and more petroleum and petrochemical storage terminals.

Phase 3 and future phases will be developed on a 800 acre parcel of land.

The company increased revenue by 19.1% in its first quarter to RM778.7 million.

It says: 'Dialog remains confident that its business model is well structured and can withstand the current oil price volatility and currency movements.'



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Terminal News
November 21, 2017
New storage challenges for Baltics operators
Significantly altered trade flows as a result of investments into Russian port infrastructure and logistics has elevated the level of storage competition in the Baltics region.In recent years, liquid cargo flows in the Eastern Baltic region have undergone significant change...

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Significantly altered trade flows as a result of investments into Russian port infrastructure and logistics has elevated the level of storage competition in the Baltics region.

In recent years, liquid cargo flows in the Eastern Baltic region have undergone significant change. These investments into Russia's infrastructure have increased the ability of Russian Baltic ports to attract and handle more Russian origin cargo.

As a result, large cargo flows historically transhipped with the ports of the Baltic states are instead being diverted to these Russian ports and putting a strain on the Baltics' logistics sector.

In an interview with Tank Storage Magazine, Lars Pantzlaff, general manager at Ventspils Nafta Terminals, says that the political tensions between Russia and the rest of the western wold following the annexation of Crimea have further compounded the issue.

'With Russian cargo flows, which historically represent the major share for the terminals in the Baltics states, significantly declining, competition for cargo flows is building with increasingly available tank capacity,' he explains.

However, there is still opportunity for the storage sector to thrive, predominantly due to petrol and petrol products demand.

'While gasoil flows are under severe pressure with a potential to decline further, the emphasis is on petrol and petrol components that can see preferential handling in terminals in the Baltic states.

'With Russia falling short as being the major source for future cargo flows, the two refineries and their output in Belarus has become a major focal point,' he says.

'Additionally, trading companies operation in the entire Baltic region consider hubs to consolidate their trade flows, even if loading ports are different.'

The largest storage players in the region are Ventspils Nafta Terminals, part of VTTI, the private Ventbunkers, state-owned Klaipedas Nafta, Krovinių Terminalas, part of Achema group, Vopak and Alexela terminals. These operators handle middle distillates, petrol and its components and fuel oil. These operators are facing growing competition from storage operators in the Russian ports of Ust-Luga, Primorsk and St Petersburg, which have increased their capacities in recent years.

The focus is now on terminals in the Baltic region being as flexible and diverse as possible to provide added value to customers, according to Pantzlaff.

'While the pressure on cost for tank storage will be mounting in the current trading environment, the flexibility and diversity of terminal services is becoming ever more critical to provide distinction and value to customers,' he adds.

'The internal efficiency of terminal operations relating to its infrastructure, its availability, processes, organisation and having the right people to master change is going to be crucial.'

Pantzlaff will be providing a comprehensive overview of the storage market in the Baltics on the first morning of the Tank Storage Germany conference on November 29 at the Hamburg Messa. For more information visit www.tankstoragegermany.com.



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Terminal News
November 20, 2017
Trafigura has announced plans to develop a second LNG import terminal project at Port Qasim in Pakistan.The commodity trader announced its plans following the inauguration of GasPort's new LNG floating storage and regasification import terminal at the port, which it is a minority investor of...

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Trafigura has announced plans to develop a second LNG import terminal project at Port Qasim in Pakistan.

The commodity trader announced its plans following the inauguration of GasPort's new LNG floating storage and regasification import terminal at the port, which it is a minority investor of.

The new terminal will more than double Pakistan's current LNG regasification capacity, and will be able to supply 90 million cubic feet of gas to private buyers in Pakistan each day.

However, even after this facility reaches full capacity, there will still be a significant supply shortfall of 19 million tonnes of LNG per annum, which has spurred Trafigura to develop a second terminal.

The company will partner with PGPL in developing a new merchant FSRU project. The JV will sell gas to private sector end-users without direct government involvement. It will include a new jetty, berth and a second FSRU, benefiting from cost synergies with the existing facility.

It also offers the potential to turbo-charge import growth and rapidly scale up industrial use of LNG in the country.



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Terminal News
November 20, 2017
Peninsula & Houston Fuel Oil Terminal ink storage agreement
Peninsula Petroleum has reached a new storage agreement with the Houston Fuel Oil Terminal to support its bunkering operations in the region.The company says this is the latest step in its strategy of converting its remaining light physical operations into a full physical model (barging plus storage logistics) in the Americas...

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Peninsula Petroleum has reached a new storage agreement with the Houston Fuel Oil Terminal to support its bunkering operations in the region.

The company says this is the latest step in its strategy of converting its remaining light physical operations into a full physical model (barging plus storage logistics) in the Americas.

Moving into the terminal means presence in one of the busiest fuel oil terminals globally, enabling Peninsula to source product directly from the local Platts MOC, one of the main keys to maintaining a long-term competitive and reliable supply structure.

The agreement includes the capability to supply bunkers ex-pipe for those ships calling at the terminal.

Alex Lyra, global head of supply and trading, says: 'Growing our global portfolio of storage positions into the terminal is not only an important step towards further consolidating our local bunkering operation but also a key element for the integration of the group's regional physical footprint, both on the Atlantic and Pacific coasts.'



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Terminal News
November 20, 2017
HES acquires bitumen terminal in Rotterdam
HES International has agreed to purchase the Valt Asphalt Terminal from Valt.The bitumen terminal in Botlek Rotterdam delivers storage, handling and blending services to the European and African bitumen market.During next year, HES plans to upgrade the terminal by investing in tanks and ancillary infrastructure...

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HES International has agreed to purchase the Valt Asphalt Terminal from Valt.

The bitumen terminal in Botlek Rotterdam delivers storage, handling and blending services to the European and African bitumen market.

During next year, HES plans to upgrade the terminal by investing in tanks and ancillary infrastructure.

Paul van Poecke, head of liquid bulk terminals at HES, says: 'This acquisition is in line with HES International's liquid bulk strategy to expand our storage footprint in Europe.

'The existing and potential future storage capacity can play an important role in meeting the increasing local and regional bitumen trade flows, in particular with IMO regulations, focussed on reducing sulphur levels in marine bunker fuels, kicking in by 2020.

'Besides the terminal is located close by our HES Botlek Tank Terminal and adjacent to European Bulk Services, both 100% subsidiaries of HES, providing significant levels of synergy.'



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Terminal News
November 20, 2017
Fujairah: Oil product stocks down 0.9% on week
Total refined product stocks at the UAE port of Fujairah stood at 15.09 million barrels in the week to November 13, down 0.9% week on week, according to data from the Fujairah Energy Data Committee (FEDCom).Total stock levels fell to a new record low for a third week in a row, about 23% lower than the average of 19...

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Total refined product stocks at the UAE port of Fujairah stood at 15.09 million barrels in the week to November 13, down 0.9% week on week, according to data from the Fujairah Energy Data Committee (FEDCom).

Total stock levels fell to a new record low for a third week in a row, about 23% lower than the average of 19.6 million barrels seen since the beginning of the year, S&P Global Platts Analytics said in a report.

Stocks of light distillates fell by 4% week on week to 4.649 million barrels. Healthy demand in the East of Suez continues to draw barrels from Europe, according to Platts Analytics.

Stocks of middle distillates rebounded from last week's record low, rising 21.6% week on week to 2.121 million barrels.

However, European petrol supply to the Middle East may tighten as the trans-Atlantic arbitrage to the US is resuming. This would suggest the Middle East will need to draw additional Asian barrels to meet demand, the report said.

The front-month time spread for Arab Gulf Gasoil has been in a contango since the beginning of the month and was at minus $1.36/b Tuesday, according to Platts data. Additional tenders for December-loading gasoil and jet fuel from Bahrain's Bapco, Egypt's Midor and India's Essar Oil have emerged over the past two weeks, underscoring the excess of supply in the market.

Stocks of heavy distillates and residues fell 3.7% to 8.32 million barrels and remain at the lowest levels recorded since February, FEDCom data showed.



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