28 December 2012 12:55 [Source: ICIS news]
SINGAPORE (ICIS)--Asian jet fuel trader China Aviation Oil (CAO) awarded a purchase tender for a total of six cargoes of jet kerosene for loading in late December and January, a company source said on Friday, but no price details were available.
The CAO tender requested four 240,000-300,000 bbl cargoes of jet kerosene for loading from northeast or southeast Asia on 21-31 January, 1-10 February, 11-20 February and 21-28 February. The cargoes were for purchase on a free-on-board (FOB) Asia basis, sources said with pricing linked to FOB Singapore market quotes.
CAO also requested one 25,000 tonne jet kerosene cargoes for purchase on a CFR (cost & freight) Huangpu basis for arrival on 3-5 February, via the same tender, the source said.
Valuations for January jet kerosene cargoes were assessed at around Singapore market quotes plus 10-20 cents/bbl FOB SE Asia and FOB NE Asia on Friday. Valuations have been supported by tighter supply with refiners maximising the output of heating kerosene rather than jet in order to meet increased consumer demand as a result of cold winter weather in northeast Asia.
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.
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