CAO issues end August-September jet kerosene purchase tender

27 July 2012 15:18  [Source: ICIS news]

SINGAPORE (ICIS)--Asian jet trader China Aviation Oil (CAO) has issued a purchase tender for four 240,000–300,000 bbl cargoes of jet kerosene for end-August and September loading, an industry source said on Friday.

The CAO tender requested cargoes for loading from northeast or southeast Asia on 21–31 August, 1–10 September, 11–20 September and 21–30 September. The cargoes are for purchase FOB (free on board) Asia, the source added.

CAO also requested one 25,000-tonne jet kerosene cargo for purchase CFR (cost & freight) Huangpu for arrival on 5-7 September, via the same tender, said the source.

The CAO purchase tender will close on 30 July and has validity until 31 July.

Previously, CAO awarded a purchase tender for four 240,000–300,000 bbl jet kerosene cargoes for loading at the end of July and August at a firmer level of around Singapore market quotes minus 30 cents/bbl FOB Asia.

Jet-kerosene values have strengthened in recent weeks buoyed by demand from the Middle East and Europe amid a seasonal increase in air travel in those regions. In recent days, spot cargoes for August loading have traded at premiums of Singapore market quotes plus 65-80 cents/bbl FOB Singapore.

CAO is the largest physical jet fuel trader in the Asia-Pacific region and the key supplier of imported jet fuel to the civil aviation industry in China.

The firm’s key businesses include jet fuel supply and trading, trading of other oil products and investments in oil-related assets.

 


By: James Dennis
+65 6780 4359



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