An independent daily assessment of the price for chartering a vessel to carry a 35,000t cargo of jet fuel on this route is preferable to alternatives such as using a fixed rate which is by its nature unresponsive to market changes, or relying on broker panel pricing, which can lack independence and methodological rigour.

Thanks, everyone. Just to give you an idea in 2019, roughly 5mn tons came from the UAE and 3.8mn tons came from Saudi Arabia. But then as we went along and through March, May, and June, we saw that also a lot of flights were being grounded in Europe, which then related to a lot of jet demand being lost. The market price with the greatest integrity is the one based on greatest liquidity and liquidity is the foundation for accuracy. I think I was just hearing that some cargoes from India that normally head to Europe might be heading to the U.S. Could you give us a perspective on how this jet demand destruction in the Middle East and India has maybe provided opportunities either for different destinations or different volumes? Posted 26 五月 2020. Explore some of our most widely used price assessments for jet fuel. At some point, I mean, we're looking now at ARA [Amsterdam-Rotterdam-Antwerp area] stocks at roughly 1.3mn tons on 13th of August.

But let me ask you this, of course, in fact, do we see more volumes being shipped? Share: Author Francis Osborne, Head of Forecasting, Argus Consulting Services. Argus Media may use the details submitted to send you information about related Argus products and services which may be of interest to your business. Crude and jet fuel markets on the runway for price recovery. To give you an example, Saudi Arabia, which is the largest producer of jet fuel in the region, recorded a 52pc decline in jet fuel output to 118,000 b/d in the second quarter. We would be happy to offer you more information about our paid services. Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher. Over the next few weeks we will be discussing the price implications of three major jet fuel trade routes, Middle East to Europe, Asia-Pacific to the U.S. West coast, and U.S. Gulf coast to Latin America. Now, several Mideast Gulf refineries returned from maintenance at the end of the second quarter, and that boosted jet fuel shipments to Europe in May, which was the highest in over a year according to Vortexa.

Argus jet fuel coverage includes price assessments and information on deals done, as well as the latest market-moving news, in-depth analysis, supply and demand dynamics, and price forecasts. In fact, we touched on that briefly in our first episode. I mean, we're looking at roughly 2mn tons imported on a monthly basis during these months. Platts Jet Fuel Price Index is published by S&P Global Platts, reflecting its daily assessments of physical spot market Jet Fuel spot prices in the relevant regional centers. This comprehensive market service offers daily aviation fuel prices, information on deals done, full trading commentary and market-moving news. Our website uses cookies to ensure that we give you the best experience on our website. If you continue we'll assume that you are happy to receive all cookies on the Argus Media website. Louise: Hello everyone, and welcome to our podcast miniseries that focuses on key jet fuel trade routes across the globe. White paper: What's the future of sustainable aviation fuel? It is also used by jet fuel producers, airlines, and exporters in internal price transfers, internal benchmarking. Louise: And I thought we would start the discussion. Florence: So, as you already rightly said, Europe is a net importer of jet fuel. and ADNOC's excess supplies typically head to France, the UK, and the Netherlands while Aramco cargoes mainly heads to the UK. Singapore jet prices this month were the highest since May 2015.

The strength in Asia-Pacific jet fuel prices over values in Europe was another factor. Now, moving to India, jet fuel exports fell to a more than five year low in July. Let's start with you Flo, let's start the discussion by really getting a perspective on Europe in a normal market environment. And Kuwait, its state-owned KNPC operates both Mina Abdullah and Mina Al-Ahmadi refineries and can produce a total of 130,000 b/d of jet. Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher. Argus jet fuel CIF Northwest Europe (NWE) cargo. Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher. Methodology for Platts Jet Fuel price index.

Oil products: ARGUS jet fuel CIF West Mediterranean assessment, Learn more about our global jet fuel coverage. The assessment is widely used in term contracts between jet fuel suppliers and airlines across South African airports. 28 Sep 2020 . Prices are assessed on a CIF Genoa/Lavera basis but also include indications for jet delivered in to Barcelona and Fiumicino with these indications normalized back to a Genoa/Lavera when adjusted for freight. A lot of the jet fuel requirements that Europe imports come from the UAE, Saudi Arabia, and India. We manage your personal data in accordance with our privacy policy. The ARGUS CIF Duban, South Africa jet fuel assessment. In northwest Europe, Argus assessed conventional jet fuel … © 2020 Argus Media group. So, year on year exports to Europe more than halved while exports to Asia-Pacific more than doubled over the last three months. All rights reserved. The Argus Jet Fuel service is essential for anyone with exposure to the global aviation fuel markets. Our distinctive global pricing structure allows carriers and suppliers to manage their global supply systems more efficiently. Methodology for Platts Jet Fuel price index. Providing all key prices, news and analysis needed for the North American environmental markets in one place. This second of four podcast episodes considers how the freight market affects jet fuel prices around the globe. Argus Brazil diesel fca price assessments. But the collapse in air travel has seen petroleum-based jet fuel prices plummet worldwide, and has increased the SAF premium. In August, for example, shipping lists show about 74,000 tons of jet fuel left India ports, but rather than head to Europe, these are heading east instead. Does it have any seasonality, some of those key factors affect the markets in Europe?

Love to hear your perspective. A lot of its jet fuel requirements is usually imported from markets east of Suez. Platts Jet Fuel Price Index is published by S&P Global Platts, reflecting its daily assessments of physical spot market Jet Fuel spot prices in the relevant regional centers. Sarah: As a result, year on year jet fuel exports from the region fell by an average of about 359,000 b/d between January and August. Learn how our price data and products can enable your business. Thanks, Sarah. Jet Fuel Insights: The weight of freight on global jet fuel prices. We may be seeing a similar trend in the Mideast Gulf as about 60,000 tons of jet fuel that was loaded in September from the region now has the option to discharge in the U.S. Atlantic coast instead of Europe. Brochure: How are the Argus jet fuel delivered Brazil prices constructed? Price for 30-Oct-2020: $1.07/gallon. As a matter of fact, a total of 120,000 tons of jet fuel that loaded in India at the end of June and July had European discharge options, but vessels changed destinations midway and discharged their cargoes in the U.S. during August instead. Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher. We manage your personal data in accordance with our privacy policy. It is also used by jet fuel producers, airlines, and exporters in internal price transfers, internal benchmarking. By doing so, market participants can align their day-to-day operations, improve management of fuel cost and directly impact their bottom line. But let me start off by saying that in the Mideast Gulf, the start of the coronavirus outbreak coincided with a heavy refinery maintenance program. And this is according to the latest available data by Jodi. And in the UAE Abu Dhabi state-owned ADNOC which operates more than 900,000 b/d of capacity at Ruwais east and west can produce up to 215,000 b/d of jet fuel, which makes it the largest jet fuel producer in the region. We would be happy to offer you more information about our paid services. But obviously, these things can change depending on if there's maintenance seasons in Europe or elsewhere. Our website uses cookies to ensure that we give you the best experience on our website. So, it's really interesting to see how this particular situation has created the clean products floating storage generally on a global basis.

So, I know many analysts will look at the freight, they'll look at inventory levels as well and clearly when they're making their decisions about moving product, freight, and looking our jet flow trade map that we have I think will be valuable. Louise: Great, thanks, Flo, that's great information. You can unsubscribe from these updates at any time. There is some type of seasonality in jet fuel imports in Europe where we would usually see during the month of May to September, a uptick in imports for jet fuel typically in line with the summer travel demand season. And if you enjoyed this podcast episode, please be sure to tune in for other episodes in this miniseries. Shipping fixtures also show about 95,000 tons of jet fuels, which are chartered to load in September in India are possibly heading to the U.S. Atlantic coast instead of Europe to take advantage of higher prices there. This podcast episode is brought to you by Argus Media, which as many of you know, is a leading independent provider of energy and commodity pricing information. And this compares with roughly 900,000 tons that were exported from Europe to other markets. Welcome, Florence and Sarah. Our prices are used extensively by energy companies, governments, banks, regulators and other organisations as benchmarks for derivatives and as indexes in physical contracts. Jet fuel price developments - impact of Euro/US$ exchange rate movements. Jet fuel price developments - longer term perspective. And for more information on Argus global jet fuel coverage, please visit www.argusmedia.com/jet-fuel. South Africa is usually self-sufficient in jet fuel but often needs to import fuel when its refineries are shut down for maintenance. The assessment is typically based on indications of trade, bids and offers expressed on an exchange-for-physical basis or as a differential to CIF Northwest European cargo price levels. Learn how our price data and products can enable your business.

That was where it was at its highest. Or has it even created additional opportunities?

Check out Argus Open Markets for Jet Fuel, Learn more about our oil products market coverage, White paper: What is IMO 2020? Argus California R99 renewable diesel. And just to give you an idea of how much is roughly imported on a yearly basis, and in 2019, we saw roughly 23mn tons of jet fuel being imported into Europe in the whole year.