29 October 2012 13:03 [Source: ICIS news]
SINGAPORE (ICIS)--Asian jet trader China Aviation Oil (CAO) has issued a purchase tender for a total of four cargoes of jet-kerosene for loading in late November and December, a company source said on Monday.
The CAO tender requested four 240,000-300,000 bbl cargoes of jet kerosene for loading from northeast or southeast Asia on 21-30 November, 1-10 December, 11-20 December and 21-31 December. The cargoes are for purchase on a free-on-board (FOB) Asia basis, the source said with pricing linked to FOB Singapore market quotes.
Unlike in previous months, CAO did not request any cargoes for purchase on a CFR (cost-&-freight) Huangpu basis, because of sufficient supplies, the source said.
The CAO purchase tender will close on 30 October and has validity until 31 October.
Previously, CAO awarded a purchase tender for four 240,000–300,000 bbl cargoes of jet kerosene for end-October and November loading at around Singapore market quotes plus 40-60 cents/bbl FOB NE Asia. Premiums for jet-kerosene have been supported by strong refining margins for distillates.
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.
($1 = €0.77)
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