After a long period of the price weakness across the Arabian Gulf market, the market has begun to recover since the first quarter of 2015. This will reflect on the European market with a steady supply from the Middle East towards Europe. Therefore, NWE and ARA regions are going to become well-stocked – very positive news in a slowly accelerating market.
Since the beginning of 2015 there has been an increased flow from both the Arabian Gulf and Russia to the ARA region, for instance, Scandinavia started to absorb more of its requirements from Russia. Also, in the middle of April, 130,000 MT of jet fuel was loaded and delivered from the Arabian Gulf to NWE, with new barrels still arriving at both regions. Unfortunately, the demand remains on the average level without withdrawing stocks, and the spot activity is limited.
At the beginning of May 2015, there were high inventory levels across Europe and healthy refinery margins continued to support high utilization rates in the region. Despite the draw, jet inventories in the NWE remained active and mostly stable with stocks up 73.2% from 2014.
There were no immediate opportunities to re-export out of Europe, and it is expected that new shipments will be delivered to Europe, for instance, there will be 80,000 MT of jet fuel from Yanbu on May 31. Meanwhile, another shipment of 90,000 MT of jet fuel from the Arabian Gulf is destined for Europe in June.
The middle of June is the semi-peak seasonal period and, according to jet fuel demand index, it remains without a sign of any gradual demand. There are a lot of shipments planned out of the Arabian Gulf to Europe, with more coming from Russia. Therefore, we can predict that Europe is moving towards a floating market with an enormous drop in jet fuel prices.
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Talal Sabbagh | - 06/23/2016
Mitch Launius
Instructor Pilot for 30 West IP
Mitch is the CEO of 30 West IP where he is also an instructor providing pilot training on international procedures. With an illustrious career of over 34 years in the cockpit, Mitch has acquired over 13,000 hours of flight time flying worldwide, with over 9,000 hours of this in Challenger and Gulfstream aircraft. He is an experienced safety officer and was also an IS-BAO project manager for a fortune 500 flight department. He has presented on Safety and Operations topics at the NBAA International Operators Conference and the Canadian Business Aviation Association Convention and is currently on the NBAA International Operators Committee and serves as the North Atlantic Regional Lead. Mitch is also a member of an FAA working group on General Aviation International Authorizations and Tabletop Exercises (GIATE). He was recently selected to represent IBAC as a member of the ICAO Personal Training and Licensing Panel (PTLP) and was also recently named as a 2020 recipient of the NBAA Tony Kern Professionalism in Aviation Award for his contribution to the business aviation community.
Henry ‘Duke’ LeDuc
Director Of Operations, Americas, UAS International Trip Support
Duke has been a dearly respected member of UAS Americas team and the UAS global family for more than five years. A safety-oriented, FAA-licensed aircraft dispatcher, he oversees all of the operations of the elite UAS Operations Team. With twenty-five years of experience in aviation overall with more than fifteen years of experience in international flight planning and VVIP trip coordination, he is responsible for the development of the dispatch training program and involved in the strategic development of UAS Americas. With a myriad of rich aviation experience behind him, he has extensive experience in worldwide operations with both corporate and charter environments, including seven years as Operations/Dispatch Manager in an industry-leading, Fortune 500, IS-BAO Stage III Certified corporate flight department. Duke is frequently asked shares his knowledge at major industry events and is currently serving on the NBAA’s International Operators Conference (IOC) Planning Committee.
Dudley King
President and Founder, FlightBridge
Dudley is the Founder and President of FlightBridge, which he established in 2011 and has been focused on technology solutions for the private aviation industry since 2006. Since he graduated from Dartmouth in 1988, he has worked with an array of companies listed anywhere from VentureWire to the Fortune 100. A rare blend of executive, entrepreneur, and consultant, Dudley’s executive roles have included acting CIO positions for several companies and tech advisory services to CEOs trying to rebuild their technology organizations or looking for an external, professional point of view. Highly skilled at deeply understanding his customer’s business challenges and drawing from a long and varied experience in information technology services, Dudley excels at designing technology solutions to solve their problems.
Dr. Paulo Alves
Global Medical Director, Aviation Health, Medaire
Paulo has extensive experience in medical advisory in the aviation industry. As a cardiologist, he provides technical guidance and analysis for MedAire’s MedLink medical advisory service and is MedAire’s liaison with civil aviation regulators and industry associations. Paulo worked with Varig Brazilian Airlines for 23 years, 10 of which were spent as General Medical Manager. A member of the MedAire Medical Advisory Board, Paulo is also President of the Ibero-American Aerospace Medical Association, a member of the International Academy of Aerospace Medicine, a member of the National Business Aviation Association (NBAA) Safety Committee, a Fellow of the Aerospace Medical Association (AsMA), and a Fellow of the Civil Aviation Medical Association. Throughout his illustrious career, Paulo has held industry leadership roles including Chairperson of the AsMA’s Air Transport Medicine Committee, President of the Airlines Medical Directors Association, President of the Brazilian Society of Aerospace Medicine and was a member of the IATA Medical Advisory Group from 2002 to 2006.
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