SINGAPORE (Reuters) – Taiwan’s state-owned energy major CPC Corp is looking to buy its third spot jet fuel import cargo in less than two months, for December arrival, three trade sources with knowledge of the matter said on Friday.
The refiner is looking to buy 300,000 barrels of the aviation and heating fuel for Dec. 1-15 delivery to Kaohsiung or Shen Ao port, they added.
The tender closes on Dec. 4, with validity to Dec. 5.
The slew of buying activity is attributed to some stocking up activity ahead of imminent refinery maintenance at its Talin production site, one source said.
CPC Corp bought its earlier two cargoes at premiums of about 50 cents a barrel to Singapore quotes, trade sources said earlier. [MDIS/TENDA]
Asia’s jet fuel markets have been bolstered in recent weeks by prompt month demand strength in both northeast and southeast Asia against a backdrop of slightly limited supplies and some export limitations from China’s oil majors.
(Reporting by Trixie Yap; Editing by David Goodman)
