3 shipments are expected in the next two weeks
Singapore – Reuters
Published in: May 18, 2023: 03:39 PM GST
Last updated: May 18, 2023: 04:14 PM GST
Official data showed today, Thursday, that stocks of middle distillates in Singapore, which is an important storage center, are stable, as a jump in net exports of jet fuel / kerosene offset the decline in net exports of gas oil, with shipments of it received from Saudi Arabia for the first time in 2023.
Enterprise Singapore data indicated that gas oil and jet fuel/kerosene inventories reached 7.473 million barrels (1.003 million tons) as of May 17, down 4,000 barrels from the previous week.
Net exports of jet fuel/kerosene rose to 71,837 tons on a weekly basis after the country was importing these products a week ago.
Total exports recorded 71,872 tons compared to minimum import volumes of 35 tons.
In terms of gasoil, total imports continued to rise on a weekly basis by more than 200%, as the country received shipments from Saudi Arabia for the first time this year.
Data from Refinitiv’s Eikon platform showed that three shipments of 90,000 tons each, originating in Saudi Arabia, are expected to arrive in the next two weeks, and that the mixture contains quantities from the Jazan refinery.
