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Jet fuel arrivals to NWE from east of Suez averaged 1.2 million mt/month in 2017

London (Platts)--3Jan2018/955 am EST/1455 GMT


Jet fuel arrivals into Northwest Europe from east of Suez averaged just over 1.2 million mt per month in 2017, according to data from cFlow, S&P Global Platts trade flow software, down from close to 1.8 million mt in 2016.

The Persian Gulf was the main supplier of product to Europe, followed by India and Singapore.

The backwardated market structure over much of 2017 was a key reason for import volumes being lower, with traders discouraged from buying product to store.

Alongside that, competition from the US for barrels over the hurricane season attracted a substantial number of global arbitrage barrels looking for the most competitive home.

By December, arrivals from east of Suez into Northwest Europe were at 1.4 million mt, according to cFlow, slightly below initial estimates as the backwardation persisted and some traders delayed arrivals into January, sources said.

Arrivals for January were already just under 1.4 million mt amid the expectation of a softening structure as the market moves further into the year.

--Caroline Knight, caroline.knight@spglobal.com
--Edited by Dan Lalor, daniel.lalor@spglobal.com

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