SINGAPORE: The Asian jet fuel cash differential rose to the highest since the start of June on Wednesday on the back of continued buying interest from Chinese traders, industry sources said.
- CHINA AVIATION OIL: China Aviation Oil bought two of four jet fuel cargoes in Singapore for loading between late June and early July, traders said.
The company may have provisionally booked the SKS Dokka to ship 90,000 tonnes of jet fuel from Singapore to Europe late June, shipping fixtures showed.
Chinese trader Unipec has plans to ship two long-range sized vessels containing jet fuel from Singapore to Europe, industry sources said.
It had initially planned to ship one of the cargoes on the vessel Mei Lin Wan, but the fixture has since been failed, a shipbroker said.
Chinese traders could be shipping out excess jet fuel due to high inventory in the domestic market and a fall in domestic retail prices, traders said. But this could change as refinery-run rates are expected to reduce in the third quarter, one of them said.
- INDIAN GASOIL: Indian Oil Corp may have bought up to 80,000 tonnes of 40ppm sulphur gasoil from BP and up to 40,000 tonnes of the fuel from Total for delivery over first half of July, traders said.
The deals could not immediately be confirmed with the relevant companies.
India's Hindustan Petroleum Corp Ltd (HPCL) entered the spot market again, seeking 65,000 tonnes of diesel for July, a tender document showed.
- MRPL JET: India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has sold 40,000 tonnes of jet fuel for loading between July 10 and July 12 from New Mangalore to Litasco at a discount of $1.30 a barrel to Singapore quotes, traders said.
- REFINERY NEWS: India's HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon LN Mittal, has delayed the start-up of its Bathinda refinery in northern Punjab state by a fortnight to the end of this month, an industry source said.
- EMARAT JET FUEL: Emirates General Petroleum Corp (Emarat) is seeking 50,000 tonnes of jet fuel for delivery into Jebel Ali over July 22 to July 23, traders said. The tender closes on June 19, and is valid until June 21.
- SINGAPORE CASH DEALS: One gasoil deal, four jet fuel trades.
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