26 March 2009 12:49 [Source: ICIS news]
LONDON (ICIS news)--Storage volumes of jet kerosene in northwest Europe have reached record highs this week of potentially more than 1m tonnes, market sources said on Thursday.
Around 350,000-500,000 tonnes of jet kerosene were likely to be in floating storage, which was more than the entire amount of jet kerosene reported to be in storage at the same time in 2008, around 200,000 tonnes, sources said.
According to sources, the need for floating storage indicated both a lack of space in Amsterdam-Rotterdam-Antwerp storage tanks and the continuing steep contango in ICE gasoil. This, sources said, made sellers reluctant to offload material.
Similar strategies were seen in northwest ?xml:namespace>
Cargoes were reported to be coming in northbound through
Market participants said that liquidity was down and that the market was very long with little demand.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections