Brazilians use estar + gerúndio for more than the present moment:

• A phase, a temporary situation — Estou morando no Rio. — I'm living in Rio (for now). Eu moro no Rio sounds more settled.
• Something just about to happen — Estou chegando! — I'm nearly there! O ônibus está saindo! — The bus is leaving!
• Enjoying something — Estou adorando o Rio! — I'm loving Rio! In English I'm loving it sounds casual; in Portuguese estou adorando is completely ordinary.