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Sunday, September 23, 2018

MARKET INFORMATION

US October crude oil imports highest in the last decade - API

The 9.92 mbd October crude oil imports reported by the API is the highest figure reported for October in the last decade. The total for the first 10 months is also 1.4% higher than for the same period last year. Petroleum products imports in October were slightly higher than for September and the imports for the first 10 months of the year were 0.2 mbd or 8% higher than for the same period in 2000. October gasoline disposition in October was 0.213 mbd higher, whereas that of jet-kerosene and residual fuel was 0.213 and 0.287 mbd lower than October 2000. This indicates that people are going by car instead of by plane and the use of heating oil was considerably down.

An update on the development of product imports over the last years can be found on our web site at: http://www.intertanko.com/pubupload/US-Europe-Japanese%20oils%20imprts.XLS

US petroleum stocks up - EIA

US crude oil stocks of 307.3 million barrels of 23 November were down by 0.1% from the previous week and up 8.1% from one year ago, but 0.3 percent lower than the five-year average. Link to the development of crude oil stocks: http://www.intertanko.com/pubupload/Crude%20oil%20stocks.XLS

Gasoline stocks of 207.7 million barrels of 23 November were up 0.5% from previous week and up 6.2% from the level one year ago. Gasoline production of 8.331 mbd for the week ending 23 November was up 1.8% compared to a year ago. Link to the development of gasoline stocks: http://www.intertanko.com/pubupload/Gasoline%20stocks.XLSDistillate stocks of 135.6 million barrels of 23 November were up by 3.9% from previous week and up 13.7% from the level one year ago. Distillate production of 4.083 mbd for the week ending 23 November was up 8.7% compared to a year ago. Link to the development of distillate stocks: http://www.intertanko.com/pubupload/Distillate%20stocks.XLSChemical seaborne trade growth reduced - Drewry

According to the Drewry Chemical Carrier Quarterly 4Q01, the growth in the organic seaborne chemical trade has decreased from 2% to 1% in 2001. This is in sharp contrast to the increases of 7.4% in 2000 and 7% in 1999. The main reason is reduced North American exports of organic chemicals, in particular to the Pacific region. North American increases in imports from Latin America have meant a reduced tonne-mile growth. The trade in inorganic chemicals is set to contract by slightly more than 0.5% in 2001, following an increase of 5.5% in 2000 and 4.1% in 1999.

The chemical tanker fleet continues to expand, with deliveries outweighing scrapping. However, the rate of fleet expansion of 2001 is well below that of recent years. 27 chemical tankers are set for delivery in 2001 as compared to 66 in 2000. At the end of September 2001 the orderbook stood at 42 tankers of 0.29 million dwt, and the chemical tanker fleet above 1,000 dwt comprised 1,691 tankers of 24.2 million dwt. 3 chemical tankers of 0.023 million dwt have been sold for recycling in 2001, as compared to 9 in 2000 and 1 in 1999.

Link to the development of chemical seaborne trade: http://www.intertanko.com/pubupload/Chemicaltrades.xls

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