While Laizhou port saw a rise in fuel oil stockpile, Qingdao, Longkou and Penglai ports all reported drops. Meanwhile, fuel oil inventory at Rizhao port was stable.
About 161,000mt of fuel oil was delivered out of these tank farms in the past week, up 43,000mt on week. Around 60,000mt was taken out of Penglai port, 40,000mt from Qingdao port, 21,000mt from Rizhao port and 20,000mt from Laizhou port and Longkou port, respectively.
In the meantime, around 121,000mt of fuel oil reached Shandong, down 52,000mt on week, the shipping schedule indicates. These cargoes comprised about 60,000mt for Laizhou port, 40,000mt for Penglai port and 21,000mt for Rizhao port.
The commercial stocks are expected to drop again in the coming week as little fuel oil has been scheduled to arrive then.
The tank farms involved in a survey on commercial fuel oil inventories in Shandong market comprise Qingdao Port Bureau tank farm, Laizhou Oriental Tank Farm, Longkou Bingang tank farm, Rizhao Haiming tank farm and Penglai Anbang tank farm. The storage capacity of these tank farms adds up to 2.86-mil cu m.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
