SINGAPORE: Some 30,000 tons of jet fuel have been shipped from Singapore to the Middle East from mid-March, an unusual movement as both are jet exporting regions, traders said on Friday.
The vessel Green Point had loaded on March 18 to ferry the shipment to the Middle East, but details of the charterer or exact discharge port were not immediately known.
The Middle East has an export position normally. They don t need to import jet, said a trading source.
Traders said refinery turnarounds in the Middle East, coupled with some stockpiling before demand picks up in the summer, might have prompted the shipment.
Someone may also have very cheap shipping, said another trading source.
Another vessel, Torm Sofia , has been chartered by ENOC to ferry 60,000 tons of jet fuel from South Korea to the Middle East from April 1, sources said.
They said the cargo would be a regular backhaul shipment on the vessel making a return trip to the Middle East.
ENOC is one of the jet sellers in the Middle East. They do bring jet from Onsan to the Middle East, enjoying the backhaul after discharging naphtha, said a source.
