Bloomberg News

European Jet Fuel Imports to Rise to 1.3 Million Tons This Month

February 17, 2012

Feb. 16 (Bloomberg) -- Shipments of jet fuel to Europe from India and the Middle East are set to increase in February after two months of stable imports, according to a survey of traders and brokers.

A total of 1.3 million metric tons will be shipped to Europe this month, the median estimate from a survey of five brokers and traders who specialize in the business showed. That’s up about 55 percent from January. About 810,000 tons have been shipped or provisionally booked so far this month to carry aviation fuel to Europe, according to reports from four shipbrokers including Delhi-based Interocean Shipping.

“Cautious improving business confidence is good news, but 2012 is still going to be a tough year,” Tony Tyler, director general of the International Air Transport Association said in a statement on Feb. 1. The Geneva-based group represents 230 airlines that account for 93 percent of scheduled global air traffic, according to its website.

Jet fuel stockpiles in independent storage at Europe’s Amsterdam-Rotterdam-Antwerp oil hub dropped 6 percent to 591,000 tons in the week to Feb. 9, according to PJK International BV, a researcher in the Netherlands.

BP Plc bought a 30,000 ton cargo of the aviation fuel from Royal Dutch Shell Plc yesterday, according to a survey of traders and brokers monitoring the Platts pricing window. The consignment changed hands at a $64 a-ton premium to March gasoil on the ICE Futures Europe exchange in London.

Premiums for cargoes averaged $61.71 a ton more than the futures contract this month, down from $66.19 in January, according to data compiled by Bloomberg. March gasoil, the benchmark for jet fuel, diesel and heating oil, dropped 0.4 percent to $1,001.50 a ton as of 12 p.m. in London.

The following table lists a selection of oil tankers scheduled or provisionally chartered to Europe from the Middle East and India this month:

--Editors: Raj Rajendran, Rob Verdonck

To contact the reporters on this story: Lananh Nguyen in London at lnguyen35@bloomberg.net; Rob Sheridan in London at rsheridan6@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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