SINGAPORE: The Asian jet fuel cash differential remained steady on Tuesday but spot supply from India could weigh on it, traders said.
- INDIAN TENDERS: India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has offered 40,000 tonnes of jet fuel for loading from New Mangalore over July 10 to 12. The tender closes on June 12, and is valid until June 13.
MRPL last sold a jet fuel cargo for loading over June 21 to 23 to BP at a discount of $1.15 a barrel to Singapore quotes, traders said.
Indian Oil Corp (IOC) is seeking 38,000 to 40,000 tonnes of 40ppm sulphur gasoil for delivery into JNPT and Kandla over July 10 to 12. The tender closes on June 8 and is valid until June 9.
IOC bought gasoil for delivery into the same ports in mid-June from Unipec at a premium of $3 a barrel to its own formula, traders said.
Indian Oil has been importing gasoil in the spot market due to a refinery maintenance and a shorfall of the cleaner fuel as the country moved to Euro 4 specifications in April, traders said.
- TAIWAN GASOIL: Taiwan's CPC Corp may have awarded a tender to buy up to 480,000 barrels of 0.25 percent sulphur gasoil for loading from mid-June to July though details of buyer and price were not immediately clear.
- QATAR RIFT: The cost of Qatari energy and commodity exports is likely to rise as the United Arab Emirates' ban on Qatari vessels cuts the ships off from the region's main refuelling port, forcing ships to sail further for fuel or pay higher prices.
- CHINA TEAPOT: An alliance of more than 20 of China's independent oil refineries has urged its members to strictly adhere to government rules on oil quotas and taxes, according to a group statement seen by Reuters on Tuesday.
- SINGAPORE CASH DEALS: One gasoil deal and two jet fuel trades.
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