04 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--There was little buying interest in the European jet kerosene barge market this week (29 May-4 June) with only two trades occurring, sources said on Tuesday.
Barge prices were at $923.75-924.75/tonne (€702.05-702.81/tonne) FOB (free on board) ARA (Amsterdam Rotterdam Antwerp) on Tuesday, up $1.50/tonne day-on-day.
Barge differentials remained ahead of cargoes for most of the week, with barges at $66-67/tonne and cargoes at $64-65/tonne on Tuesday.
With just four bids in the barge market on Tuesday, market players said differentials would have to increase further to encourage more sellers.
Conversely, in the cargo market, trading house Vitol had numerous cargoes on offer, but few bids seen during open market trading, which added downward pressure to cargo prices.
A source said there could be some more jet kerosene on offer in the barge market from the refineries soon with jet starting to strengthen against diesel.
Market players attributed some of the quietness to sellers wanting to keep tanks reasonably full ahead of the summer flying season.
The flooding of the Rhine River is not currently having any impact on prices and delivery times, with sources saying the trading on the river should be back to normal operational rates in the coming days.
($1 = €0.76)
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