04 February 2014 17:25 [Source: ICIS news]
LONDON (ICIS)--Northwest Europe jet kerosene barge volumes traded in January’s open market were down 50% on the monthly average for the past two years, a source said on Tuesday.
At a total of 30,000 tonnes for the month, volumes traded were 10,000 tonnes below January 2013 and the lowest since June 2013.
Weak demand has suppressed activity in both the barge and cargo markets.
“[It’s the] quietest month, in terms of trading, that I’ve seen for my whole career,” one cargo trader said.
Sources said there was no obvious reason to expect conditions to change soon.
One analyst said: “We have already [had] a very long time a very dull market. I wouldn’t suggest any change. The only event would be that market circumstances change but I don’t see that in the short term.”
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