Taiwan’s CPC Corp. is looking to buy August delivery jet fuel via a spot tender, a document seen by Reuters showed, in its first such procurement tender this year for the fuel.

The state-owned energy major aims to buy about 300,000 barrels of jet fuel for delivery from August 1 to 10, the document showed, in a tender closing on July 7, with offers to be valid till July 9.

The bout of spot demand was driven mainly by the stocking-up of inventories ahead of firmer summer travel demand expectations, one source with knowledge of the matter said.

CPC Corp was last in the market last November to buy jet fuel for delivery from the following month to January.

Some refinery maintenance in September and December could further crimp production, the source added.

Separately, the refiner sold some March-loading jet fuel at premiums to free on board (FOB) Singapore quotes early this year.
Source: Reuters