ASIA-PACIFIC - Fourth-quarter jet fuel supply and trading volumes at China Aviation Oil (CAO) fell by 6% from the previous year to 3.8 million tons, or the equivalent of a 260,000-ton drop, according to the company's financial statement. Jet fuel volumes saw a deeper drop of 14% or around 630,000 tons compared to the third quarter. As a key importer of jet into China and a major player in regional cargo markets, CAO's trading volumes reflect trends in the wider Asian arena (JFI Nov.20'17). CAO supplied and traded a total of 16.1 million tons of jet during the 2017 calendar year, up by 8% or 1.2 million tons from 2016, according to the company's results. Lower year-on-year growth is largely due to to reduced trading activities as jet fuel markets went into backwardation starting in the third quarter, according to CIMB bank.
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