Rotterdam sees increase in oil product tanker flows

28 Apr 2021

London (Quantum Commodity Intelligence) - Flows of tankers carrying oil products in and out of Rotterdam rebounded in the first quarter from a year earlier, data from the port’s authority shows.

The total tonnage of oil products coming and going from Europe’s largest port rose to 16.956 million mt in the first quarter, up 2.975 million (19.7%) from 14.16 million mt in the first three months of 2020.

Most of the increase came from tankers arriving at the port to discharge product, with incoming tonnage increasing to 8.823 million mt in the first quarter, up 1.776 million tons from a year earlier.

Exports of oil products were up just over 1 million mt year-on-year.

“Oil product volumes at the Rotterdam terminals mainly increased thanks to stronger inbound and outbound flows of fuel oil and gas oil/diesel oil,” the Port of Rotterdam authority stated.

“Total throughput was significantly boosted by the loading of two VLCCs with fuel oil destined for Singapore, for example.”

But crude flows were little changed year-on-year with the port reporting 25.518 million mt of tonnage coming and going in the first quarter, down 297,000 mt from the first quarter iof 2020

There was also a fall in LNG trade through Rotterdam, dropping to 1.524 million mt from 2.082 million mt, as European demand for imports dried up at a time when a cold snap and spike in LNG prices in Asia was drawing volumes eastwards instead.

Overall, Rotterdam’s liquid bulk trade rose to just over 52 million mt in the first quarter, up 1.728 (3.4%) year-on-year.

Dry bulk trade increased to 18.382 million mt, up 1.522 million mt.