LONDON, Oct 15 (Reuters) - Diesel barge prices in northwest
Europe rose on Tuesday, with both gasoil futures and
differentials gaining, as demand in the region rose.
Around 25,000-32,000 tonnes of diesel traded daily in the
barge market in recent days, a trader said.
'We may see this continue for another 2-3 weeks as end
consumer demand and the colder weather drives demand,' a trader
Large import volumes continue to keep a cap on diesel
prices, with barge differentials only slightly recovering from
an 8-month low hit on Friday.
'Big arbitrage supplies will continue this winter,' a
European cargo trader said.
Demand for diesel cargoes was lacklustre, with six bids
appearing in northwest Europe during the window.
Britain's Grangemouth 210,000 barrel per day refinery
started shutting down ahead of a planned Octoner 20 strike at
the site. However the 110,000 bpd crude distillation units
continued to operate normally, according to data from
* Four barges of 0.1 percent gasoil traded in the window at
$0-$0.50 a tonne fob ARA above the November ICE gasoil futures,
down from $1 a tonne premium on Monday.
* AIC, BP and Gunvor sold to Shell and Mercuria.
* No cargoes traded in northwest Europe or the
* Two barges of 50 ppm gasoil traded at $12-$13 a tonne fob
ARA above the gasoil futures. AST sold to Shell.
* November ICE gasoil futures rose $8.50 to $940 a
tonne at 1545 GMT.
* The ICE gasoil crack was at $15.78 a barrel,
67 cents higher than a day earlier.
* The November and December ICE gasoil futures were in a
backwardation of $5.25 a tonne compared with $3.50 a
* Eight barges of intermediate diesel traded at premiums to
November ICE gasoil futures of $13-$14.50 a tonne fob ARA, up
from $12.50-$13 a tonne on Monday.
* Trafigura and Vitol sold to Shell, AIC and Morgan Stanley.
* No cargoes traded in northwest Europe. Vitol offered five
cargoes of French winter grade diesel at $20-$22.50 a tonne cif
Havre and Amsterdam above the November gasoil futures. Morgan
Stanley, Phillips 66, Glencore and Preem bid for six cargoes.
* No cargoes traded in the Mediterranean, either. Trafigura
and BP offered four cargoes, including one Turkish spec cargo at
$21.50 a tonne cif Mersin above the November gasoil futures.
* Litasco, Shell, Glencore and Total bid for seven cargoes,
including one French winter spec cargo at $23 a tonne cif Aliaga
above the November gasoil futures.
* Two jet fuel barges traded at $67 a tonne fob ARA. BP sold
to Morgan Stanley and Shell.
* Three jet fuel cargoes traded at $66-$67 a tonne cif NWE
above the November ICE gasoil futures, down from premiums of $70
a tonne on Monday.
* Barges of low sulphur fuel oil with 1 percent sulphur
content were traded at $607 a tonne fob ARA, down from $607 a
* Barges of high sulphur fuel oil with 3.5 percent sulphur
content traded at $582-$584.50 a tonne fob ARA, compared with
$582-$583 a tonne on Monday.
(Reporting by Ron Bousso; editing by William Hardy)
((Ron Bousso)(email: firstname.lastname@example.org)(Tel.:
+44)(0)(207 542 2161)(Reuters Messaging:
Keywords: MARKETS EUROPE/DISTILLATES
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