Fuel oil inventories at major commercial tank farms of East China fell to 370,000-390,000mt in total up till Jul 28, down 20,000mt or 5% from one week ago, according to port sources. The volume accounted for 45.2% of the total fuel oil containing capacity of the tank farms.
Aoshan Tank Farm in Zhoushan City recorded 250,000mt of fuel oil stock, down 20,000mt on week, a source with the terminal said, adding that included 20,000mt of inner-trade oil. The tank farm received no fuel oil carried by tankers with capacity above 10,000 DWT in the past week.
Fuel oil stock of Yangshan oil terminal built 20,000mt to 10,000mt, which saw slow outflows on soft demand, said a source with the terminal.
Fuel oil stock in Haibin oil terminal stayed unchanged at 30,000mt.
East China fuel oil stock is forecast to decline further in the coming week, as most traders were cautious in building stocks in face of misty outlook, 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 Yanghong Tank Farm in Jiangsu, with storage capacities totaling 920,000 cu m.