25 June 2013 16:07 [Source: ICIS news]
SINGAPORE (ICIS)--Asian jet fuel trader China Aviation Oil (CAO) has issued a purchase tender for a total of four cargoes of jet kerosene for loading in late July and August, industry sources said on Tuesday.
The CAO tender requested four 240,000-300,000 bbl cargoes of jet kerosene for loading from northeast or southeast Asia on 21-31 July, 1-10 August, 11-20 August and 21-31 August.
The cargoes are for purchase on a free on board (FOB) Asia basis, the source said, with pricing linked to FOB Singapore market quotes. The CAO tender will close on 27 June and offers will remain valid until 28 June.
For the fourth month running, CAO did not request any cargoes for purchase on a cost & freight (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 bbl cargoes of jet kerosene for end-June and July loading at Singapore market quotes minus 30-20 cents/bbl FOB Asia, market sources said.
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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