China Aviation Oil buys jet fuel supplies for end-June to July

04 June 2013 11:07  [Source: ICIS news]

SINGAPORE (ICIS)--Asian jet fuel trader China Aviation Oil (CAO) has bought by tender a total of four cargoes of jet kerosene for loading in late June and July, industry sources said on Tuesday.

CAO bought four 240,000-300,000-barrel cargoes of jet kerosene at a discount of 20-30 cents/bbl on a free-on-board (FOB) Asia basis, with pricing linked to FOB Singapore market quotes, they said.

The loading dates are 21-30 June, 1-10 July, 11-20 July and 21-31 July, sources said.

For the third month running, CAO did not request any cargoes for purchase on a CFR Huangpu basis. Some traders viewed this as a sign of softer demand from China.

In its previous tender, CAO bought a total of four 240,000-300,000-barrel cargoes of jet-kerosene for end-May and June loading in a broad price range between Singapore market quotes minus 60-30 cents/bbl FOB Asia, market sources said.

($1 = €0.76)

Additional reporting by James Dennis

By: Felicia Loo

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