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

Singapore β€” Indonesia's state-owned Pertamina plans to import around 8-9 millionbarrels of gasoline in July, down 1-2 million barrels from June, as theRamadan peak demand season comes to a close, market sources said Wednesday.

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Pertamina's gasoline imports for June were estimated at around 11 millionbarrels.

Market watchers were unable to provide a breakdown of volumes between thethree 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 Ramadandemand is over," a Singaporean trader said.

"Pertamina hasn't been showing much spot demand lately following theirlatest tenders for HOMC," another Chinese trading source said.

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

In addition, Pertamina also issued another tender seeking 500,000 barrelsof the same grade for loading over June 30-July 2 from Singapore/Malaysia ordelivery 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 heardto have taken two LR1 tankers on subjects, the Torm Venture and the AbbeyRoad, for Yanbu to Indonesia voyages, loading 60,000 mt of gasoline cargoesover late-June dates, shipping sources confirmed.

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

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

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

--Brandon Lee, brandon.lee@spglobal.com

--Wanda Wang, wanda.wang@spglobal.com

--Edited by Pankti Mehta, pankti.mehta@spglobal.com