亚洲瓦斯油馏分精炼利润率创3年来最大周跌幅

据1月10烃加工转载的新加坡路透社报道，亚洲10 ppm瓦斯油的精炼利润率上周五下跌，创下三年多来最大单周跌幅，受购买兴趣减弱的打压，市场等待航运业转向清洁燃料后的预期需求提振。

2020年1月1日起国际海事组织（IMO）已禁止船舶使用含硫量超过0.5%的燃料，预计一部分船东将改用船用瓦斯油（MGO）以遵守新规则。但是，一些船东和经营者，特别是那些拥有大型船舶的船东和经营者，由于使用MGO而不使用重质燃料会出现技术问题，所以更倾向于使用硫含量非常低的燃料油（VLSFO）。

然而，贸易商乐观地认为，随着现有VLSFO供应量减少，未来几个月，MGO需求将稳步回升。在上周五的亚洲交易中，含硫量为10 ppm的MGO精炼利润率（相对于迪拜原油）暴跌至13.98美元/桶，低于前一天的14.95美元/桶。Refinitiv Eikon的数据显示，本周新加坡基准MGO品级的精炼利润率已下降约13.4%，为2016年8月以来的最大周跌幅。

市场人士表示，VLSFO的价格近几个月来一直在上涨，这表明越来越多的人担心这些燃料不足以让航运业完全遵守今年生效的新全球航运法。

贸易消息人士表示，尽管VLSFO的价格现在略高于MGO，但与MGO相比，燃料油更好的热性能和发动机性能使得航运从业者不愿意更换。

荷兰咨询公司Insights Global数据显示，截至1月9日的一周内，阿姆斯特丹-鹿特丹-安特卫普（ARA）炼油和储存中心独立持有的瓦斯油库存上涨3.5%，至260万吨。Insights Global公司的Lars van Wageningen表示，尽管莱茵河内陆地区的需求较前一周有所改善，但瓦斯油库存仍上涨约3.5%，至257万吨。

贾丽 摘译自 烃加工

原文如下：

Asia Distillates-Gasoil cracks post biggest weekly drop in over 3 years

Asian refining margins for 10 ppm gasoil fell align="justify">The International Maritime Organization (IMO) has banned ships from using fuels with a sulphur content above 0.5%, effective Jan. 1, and a section of ship-owners are expected to switch to marine gasoil (MGO) to adhere with the new rules. But some ship-owners and operators, especially those with larger ships, strongly prefer very low sulphur fuel oil (VLSFO) over MGO due to technical issues related to running align="justify">Traders, however, are optimistic that gasoil demand would pick up steadily over next few months as the availability of existing VLSFO supplies shrink. Refining margins, also known as cracks, for gasoil with 10 ppm sulphur content plunged to $13.98 per barrel over Dubai crude during Asian trade align="justify">The price of very low-sulfur fuel oil (VLSFO) has risen in recent months, a sign of increasing worry there is not enough of the fuel to comply with new global shipping laws that took effect this year, market participants said.

Fuel oil's better calorific properties and better properties align="justify">Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 3.5% to 2.6 million tonnes in the week to Jan. 9, data from Dutch consultancy Insights Global showed. Gasoil stocks rose by around 3.5% to 2.57 million tonnes, despite improved demand from inland Rhine locations compared with the previous week, Insights Global's Lars van Wageningen said.