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China Aviation Oil seeks up to 3.72 mln bbls jet fuel for 2013 -sources
November 8, 2012 / 3:42 AM / 5 years ago

China Aviation Oil seeks up to 3.72 mln bbls jet fuel for 2013 -sources

SINGAPORE, Nov 8 (Reuters) - China Aviation Oil (Singapore) is seeking up to 3.72 million barrels of jet fuel for delivery next year, its first term tender in about two years, industry sources said on Thursday.

The company is seeking one shipment of 240,000 to 310,000 barrels of jet fuel either every month or every quarter on a free-on-board (FOB) basis.

The tender closes on Nov. 14 and is valid until Nov. 23.

The company skipped term negotiations for this year and bought term barrels through private negotiation last year, one of the sources said.

It last secured term barrels through the tender process in 2010, the source added.

The company normally purchases about 1.2-1.6 million barrels of jet fuel every month in the spot market. It is unclear if its spot volumes will reduce once it finalises the term contract for next year. (Reporting by Jessica Jaganathan; Editing by Himani Sarkar)

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