Gasoline Firmer, Diesel Weaker on Supply

Posted by Michelle Howard
Tuesday, April 22, 2014

Gasoline barge swaps in northwest Europe strengthened over the week to Tuesday on the back of tighter supply and robust demand from overseas markets, but diesel swaps weakened as supply increased.

Gasoline barge swaps were supported by falling inventories in the United States and Europe at a time of rising demand.

"Low gasoline stocks are undoubtedly a key factor in gasoline's current strength, and any indication of further draws from the API and the EIA could keep the complex underpinned," analysts at JBC Energy said in a note.

Some analysts believe it will be difficult for U.S. refiners to replenish gasoline stockpiles adequately before the summer driving season officially starts on the Memorial Day weekend at the end of May.

Diesel and gasoil swap differentials fell on the week, with ample supply and relatively muted demand weighing on prices, traders said.

More imports into the region and the completion of refinery maintenance have increased supply before the onset of driving season has pushed up demand.

Gasoil stocks independently held at Europe's Amsterdam-Rotterdam-Antwerp (ARA) hub rose 11.4 percent to 1.573 million tonnes in the week to Thursday, data from Dutch oil analyst Pieter Kulsen showed.  "Russia is exporting more, and there is the end of maintenance in Europe," a trader said.


  • The April gasoline barge swap was trading at around $1,033.56 a tonne fob ARA on Tuesday, up from last Monday's $1,024.32 a tonne. The May swap was trading at $1,032.97 a tonne fob ARA, up from $1,022.01 a tonne last week.
  • The April barge crack swap was at around $13.70 a barrel, down from last Monday's $14.25 a barrel. The May crack swap was trading at around $13.95 a barrel, slipping slightly from last week's $14.08 a barrel.  


  • The April cargo swap was quoted at $931.12 a tonne cif NWE, almost unchanged from last week's $930.41 a tonne. The May swap was trading at about $922.17 a tonne cif NWE, up from $914.16 a tonne last Monday.
  • The April naphtha crack swap was at minus $4.71 a barrel, weakening from minus $3.03 a barrel last Monday. The May crack swap was trading at minus $5.56 a barrel, dropping from last week's minus $4.75 a barrel.
  • The East-West spread for May widened out to $16.50 a tonne, from around $14 a tonne last week. The June spread was also at $16.50 a tonne.   

Middle Distillates

  • The May ICE gasoil futures contract was down $4.25 at $923.25 a tonne by 1236 GMT with the May-June gasoil contracts <LGO-1=R> in a backwardation of $2.25 a tonne.
  • The April gasoil barge swap was at $922.88 a tonne fob ARA, up from $903.13 a tonne last week. The May swap traded at $921.56 a tonne fob ARA, compared with $901.43 last week.
  • The May diesel barge differential swap was at $15.20 a tonne fob ARA over ICE gasoil futures, down from a premium of $16.75 a tonne last week.
  • The May diesel cargo differential swap was at around $18.50 a tonne cif NWE, compared with $19.50 a tonne a week ago. The June swap was at around $18.80 a tonne.


Jet Fuel

  • The May jet fuel cargo differential swap was at $44.48 a tonne cif NWE, up from $32.80 a tonne last week.    


Fuel Oil

  • The premium on fuel oil with 1 percent sulphur content over fuel oil with 3.5 percent sulphur, known as the hilo, was at about $44.09 for May, up from $37.64 a tonne last week.
  • The hilo for June was at about $41.37.


 (Reporting by Claire Milhench and Simon Falush; additional reporting by Ron Bousso, editing by David Evans)

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Long Beach Sees Robust Container Growth

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Fuels & Lubes

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

GTT, DSME Partner for NO96 Max Development

GTT signs a cooperation agreement with Daewoo Shipbuilding & Marine Engineering aiming at the industrialization of its NO96 Max technology   GTT, a designer of


Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

42 People Rescued after Abandoning Ship off Hawaii

Forty-two people are safe after abandoning ship approximately 1,800 miles south of the Hawaiian Islands, Thursday, the U.S. Coast Guard reported.   Crewmembers

Yacht Club Takes Delivery of New Dredger

Rose City Yacht Club, a long-standing private marina and social club along the Columbia River in Portland, Ore., recently took delivery and startup of a new 8-inch Badger Class dredge from Reserve,


No Need to Change Tug Workers’ Hours -Study

The American Waterways Operators (AWO), the national trade association for the tugboat, towboat and barge industry, hailed a study conducted for the Transportation

Brazil Agricultural Waterway Finally Reopens

Brazil's Tiete-Parana waterway, a key transport corridor for soybeans, corn, cellulose, fertilizer and other agricultural products, has reopened after a 20-month

EU Pulls Plug on Back-Up Nav System

A British-led initiative to create a back-up to satellite navigation systems for ships has been pulled after failing to garner interest from other European countries,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1444 sec (7 req/sec)