As shipments into Indonesia expected to rise this month versus May as Pertamina replenishes stocks, two of six tankers used to store gasoline in Asia have arrived in the country. After the government imposed measures to curb the coronavirus, Indonesia’s fuel demand plunged and inventories jumped in Q2.
Arrived in the past week at Indonesia’s Tuban and Merak ports, respectively, the tankers are Panamax-sized SCF Prudencia, chartered by Pertamina and Aframax-sized Sloane Square, chartered by Equinor and carried Norwegian gasoline. When fully loaded, more than 120,000 tonnes of gasoline can be carried by the ships.
Although Indonesia’s May petrol demand as of Wednesday was still 27 percent below February’s level, the shipments were planned to maintain the stockpile levels, Pertamina’s spokeswoman said. As Pertamina’s Balikpapan refinery was shut for maintenance, fuel stocks fell in May.
The estimate for Indonesia’s June imports is at about 7 million barrels. This is down from February’s imports of 8 million barrels, half of the monthly average in 2019, and up from May which was estimated at between 5 million and 6 million barrels.
