Asia Distillates-Cracks edge down on thin demand

Joseph Keefe
Monday, April 07, 2014

Asia's gasoil and jet fuel margins edged lower on Monday in the absence of most sentiment-supporting factors, with the exception of refinery maintenance, traders said.


The May gasoil crack, or profit from processing a barrel of crude into the fuel, slipped 48 cents to $17.72 a barrel above Dubai crude while the jet fuel crack fell 54 cents to $15.73, Reuters data showed.
The physical regrade, or the price difference between jet fuel and gasoil in Asia, widened to minus $2.32, weighed down by low demand for jet fuel, the sources said. "For the moment, there are few things to support jet fuel as the use of kerosene for heating is over," a trader said.
 

Amid thin demand for gasoil and jet fuel in Asia, refinery maintenance in the second quarter has provided some support to the market. Japanese oil refiner Showa Shell Sekiyu said its subsidiary Toa Oil Co had closed the sole 70,000-barrels-per-day No.3 crude distillation unit at Keihin refinery in eastern Japan for two months of scheduled maintenance.   
    
TENDERS:
India's MRPL sold 40,000 tonnes of jet fuel for May to Totsa at a discount of around 80-85 cents per barrel to Singapore quotes.
       
SINGAPORE CASH DEALS:

One each for gasoil and jet fuel. BP sold 150,000 barrels of 500-ppm gasoil to Sietco for April 27 to May 1 loading at a premium of $0.25 a barrel to Singapore quotes. Vitol sold 100,000 barrels of jet fuel to BP for April 25-29 loading at a premium of $0.20 a barrel to Singapore quotes.

 

Reporting by Jane Chung

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

ClassNK's Noboru Ueda Attends KOTC Delivery Ceremony

Mr. Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

Energy

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Nanotechnology & Big Data: New Review

A report commissioned by the Lloyd’s Register Foundation, reviewing the potential implications of nanotechnology on the safety and performance of engineering assets

Logistics

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

Bulk Equipment is Delivered to Syzran Refinery

A reactor and a cold high-pressure separator is delivered to the site of Rosneft subsidiary Syzran Refinery for the constructed diesel hydro-treater. The unit

Gazprom Neft Starts Oil Production, Shipments from Iraqi Badra Field

Russia's Gazprom Neft said on Monday it started commercial production and shipments of oil produced at its Iraqi Badra oil field. Gazprom Neft, the oil arm of state gas company Gazprom ,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0863 sec (12 req/sec)