January 16, 2015
UAE's Emirates General Petroleum Corporation, or Emarat, is seeking one 60,000-mt cargo of jet A-1 fuel for loading over February 21-22 and delivery to Jebel Ali's Emoil or Emdad Terminal, via tender.
The tender closes January 20, and offers are to remain valid until January 22.
Yemen's Aden Refinery Company, or ARC, is offering 20,000 mt jet fuel from the Aden port for loading over February 3-5. The tender closes January 17 and remains valid for two days.
India's Mangalore Refinery & Petrochemicals Ltd., or MRPL, is offering 40,000 mt of jet A-1 for loading over February 24-26 from New Mangalore. The tender closes January 21 with same day validity.
Chinese state-owned Sinopec's Zhenhai refinery has been allocated 440,000 mt of jet fuel in the first round of export quota for 2015. The refinery plans to export around 80,000 mt of jet fuel in January, the same as the previous month.
Sinopec's Hainan refinery plans to export 90,000 mt of jet fuel this month. It was allocated the biggest volume among all the 11 Sinopec refineries at 450,000 mt of jet fuel in the first round of export quota for 2015, Platts has reported.
In market news, stocks data from IE Singapore released Thursday showed a slowdown in jet fuel exports by 12.4% to 67,125 mt over the week ended January 14, with Australia and Indonesia accounting for about 60% of total exports.
Middle distillates exports -- including kerosene, jet-fuel and gasoil -- also edged down week-on-week from 9.028 million barrels the previous reporting week, to 8.732 million barrels, data showed.
The Los Angeles jet fuel market was unchanged Friday, one day before the Flagship Willow was expected to arrive into port in LA according to Platts cFlow ship-tracking software.
Platts assessed the Los Angeles jet fuel differential at NYMEX February ULSD futures minus 13.50 cents/gal or $1.5249/gal on the outright.
Sources said that imports from that cargo had already been priced into the market, and thus would not cause a price shift the day before the cargo's arrival.
The Flagship Willow, capable of carrying more than 500,000 barrels, was chartered by Valero according to one market source.
Two more cargoes were seen heading to Los Angeles were set to arrive in the next week from South Korea -- Maribel and Bowfin -- according to Platts cFlow. Maribel and Bowfin are estimated to arrive January 20 and 24 respectively.
Cargoes traveling this route typically carry jet fuel.
The Hellas Explorer, which was originally estimated to arrive in LA January 18 from South Korea, was seen diverted to Balboa, Panama on Friday according to Platts cFlow.