Four Companies Seen Supplying 71% of NW-Europe Jet Imports
Three oil producers and one trader supplied north-west Europe with 71% of its imported jet fuel in the first seven months of this year, highlighting the concentrated nature of the regional market, which has the world's biggest deficit of the middle distillate.
Vitol, Shell, BP and Kuwait Petroleum are shipping 71% of the 8,764,500 metric tons (about 327,000 b/d) arriving in northern Europe from January to July according to the OPIS Tanker Tracker on FleetMon.com, which compiles on a daily basis information about shipments from traders, brokers and used satellite data to analyze market share of jet fuel imports.
Vitol, the biggest supplier to northwest Europe, sourced 845,000 tons of its 1.4 million tons imported to the region from the Middle East, and a further 770,000 tons from Asia. The destination was known in all but four of the 28 cargoes that Vitol loaded and discharged at European ports over the seven-month period. That showed that just over half of all jet fuel that Vitol imported to north-west Europe went to Rotterdam, while just under a quarter was discharged in the U.K. Vitol shipped 72% of all jet fuel to Europe on the biggest ships to carry refined products, Long Range 2 tankers, which transport cargoes of 80,000 to 90,000 tons.
The second-biggest importer was BP with 1,690,000 tons, followed by Shell with 1,625,000 tons and Kuwait Petroleum with just over 1 million tons.
Traders were more active in supplying European ports in the Mediterranean, with 1.7 million tons tracked in that the region over a six-month period.
By the end of June, 10.7 million tons has been tracked to northwest Europe and ports in the Mediterranean in total on 188 tankers.
Shipments to northwest Europe through to July can be compiled as charters are arranged ahead of time and the 25 to 30-day voyage from the Middle East and Asia typically means volumes can be estimated a month ahead.
Last year 19.88 million tons (about 429,000 b/d) was imported into the 28 member countries, according to trade data from the European Commission.
Overall jet fuel demand in Europe was seen rising by 6.1% year-on-year in April to 1.29 million b/d, the latest month for which data was available, according to Energy Aspects.
The London-based energy consultancy says Europe is the third-largest consumer of jet fuel after the Asia-Pacific and north American regions, at 1.3 million b/d in the second quarter. But Europe has the world's biggest shortfall of jet fuel, with supply lagging demand this quarter by 316,000 b/d according to Energy Aspects.
The OPIS Tanker Tracker compiles information from traders and brokers, and FleetMon ship tracking to provide a real-time insight into Europe-bound refined products on tankers. Pinpoint detailed shipping information, such as vessel, product and volume being transported, and buying or selling party and gain critical intelligence on the movement of product from port to port. Learn more and take advantage of a 21-day, no-obligation free trial.