28 January 2013 13:26 [Source: ICIS news]
SINGAPORE (ICIS)--Asian jet fuel trader China Aviation Oil (CAO) has issued a purchase tender for a total of six cargoes of jet kerosene for loading in late February and March, a company source confirmed on Monday.
The CAO tender requested four 240,000-300,000 bbl cargoes of jet kerosene for loading from northeast or southeast Asia on 21-28 February, 1-10 March, 11-20 March and 21-30 March. The cargoes were for purchase on a free on board (FOB) Asia basis, the source said, with pricing linked to FOB Singapore market quotes.
CAO also requested two 25,000 tonne jet kerosene cargoes for purchase on a CFR (cost & freight) Huangpu basis for arrival on 26-28 February and 5-8 March via the same tender, the source said.
Valuations for jet kerosene in Asia have been buoyed in recent weeks amid tighter supply, particularly in northeast Asia, as refiners have boosted the output of heating kerosene rather than jet in order to meet increased consumer demand created by cold winter weather in Japan and elsewhere 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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