July Europe-bound Jet Fuel Cargoes Dip 17%
July cargoes of jet fuel arriving in northwest Europe and the Mediterranean are tallied by OPIS at 1,514,000 metric tons, (around 1.2 million bbl), which is 17% lower than June volumes.
August volumes are looking higher, estimated at 1.9 million tons, according to the OPIS Tanker Tracker on FleetMon.com, and based on data about jet fuel and diesel shipments booked into Europe, based on trader, broker and satellite-tracking sources.
Jet fuel demand in Europe, the world's biggest importer of the fuel and third-largest user after north America and Asia, usually peaks in the summer months, reflecting increased traveling.
Some 23 tankers that loaded cargoes from ports in the Middle East Gulf, India and Asia were tracked into the region, with 1.2 million tons discharged in ports in northwest Europe, and 300,000 tons into the Mediterranean, data show.
Jet fuel volumes imported into northwest Europe and the Med in June reached 1,776,000 tons, the highest amount since last October, when 2.1 million tons was tracked.
Shell was the largest shipper of jet fuel into Europe this month, at 475,000 tons, followed by Vitol at 420,000 tons. BP shipped in 190,000 tons according to the Tanker Tracker.
Eight LR2 tankers, which each carry cargoes of up to 90,000 tons, were tracked into Europe, continuing a trend for bigger ships to carry jet fuel.
European jet fuel demand is estimated at 1.2 million b/d, with a supply deficit of 316,000 b/d in 2014's second quarter, according to London-based consultancy Energy Aspects, in a report published earlier this month.
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.