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Jet to move from Saudi Arabia to Australia in unique move

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Jet to move from Saudi Arabia to Australia in unique move

London — Jet fuel will move from Saudi Arabia to Australia in an extraordinarymove, according to data from S&P Global Platts trade flow software cFlow.

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The Lady Henrietta is set to load 75,000 mt of jet fuel in Jubail, SaudiArabia, departing on February 25 for discharge in Australia, chartered byAMPOL, according to cFlow.

The move is unique, as Australia typically buys spot cargoes fromSingapore or South Korea. With Asian jet sources musing this could be thefirst time AMPOL has bought from a Middle Eastern refiner.

"No other choice: no jet in Korea, no jet in Singapore," one source saidof the move.

Jet fuel prices in Singapore hit three-year highs at the start of themonth amid high demand and a heavy maintenance program globally. The move wasmirrored in the Northwest European jet fuel market, where jet fuel prices onWednesday hit their highest levels since December 2014.

With temperatures expected to rise in North Asia, demand for dual purposekerosene is due to slow in coming weeks, leaving Asian jet traders unsure asto the reasoning behind moving jet from the Middle East to Australia.

--Caroline Knight, caroline.knight@spglobal.com

--Zameer Yusof, zameer.yusof@spglobal.com

--George Shaw, george.shaw@spglobal.com

--Edited by Jonathan Fox, jonathan.fox@spglobal.com