Indonesian Pertamina’s Jul planned gasoline imports seen falling on month: traders

Foto: pertamina.com

 

Indonesia’s state-owned Pertamina plans to import around 8-9 million barrels of gasoline in July, down 1-2 million barrels from June, as the Ramadan peak demand season comes to a close, market sources said Wednesday.

Pertamina’s gasoline imports for June were estimated at around 11 million barrels.

Market watchers were unable to provide a breakdown of volumes between the three grades of 88 RON, 92 RON and 95 RON.

Pertamina could not be reached for comment.

“Import volumes should return to normal levels now that the Ramadan demand is over,” a Singaporean trader said.

“Pertamina hasn’t been showing much spot demand lately following their latest tenders for HOMC,” another Chinese trading source said.

The state-owned company last issued a tender seeking 200,000 barrels of High Octane Mogas Component 92 RON gasoline for delivery over July 19-21 to Balikpapan.

In addition, Pertamina also issued another tender seeking 500,000 barrels of the same grade for loading over June 30-July 2 from Singapore/Malaysia or delivery over July 3-5 to Tanjung Uban.

Results of both tenders could not be confirmed.

Meanwhile, Saudi Aramco Products Trading Company, or ATC, was also heard to have taken two LR1 tankers on subjects, the Torm Venture and the Abbey Road, for Yanbu to Indonesia voyages, loading 60,000 mt of gasoline cargoes over late-June dates, shipping sources confirmed.

“Those vessels are just outside Yanbu in the Red Sea region at the moment,” a source familiar with the matter said.

ATC was last reported to be supplying Pertamina with term gasoline barrels for the second half of this year, in an attempt to grow its presence in the Southeast Asian market.

ATC has joined 15 other regional suppliers to supply 88 RON and 92 RON gasoline cargoes on an FOB and CFR basis to meet Indonesia’s growing gasoline requirement over July and December 2018.

Source :

platts

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