In the first half of January 2016, there was a significant drop in jet fuel prices. Arab Gulf refineries continued to produce and offer larger quantities, and although there was a little movement in the Asia Pacific, the prices again fell by 2.58% compared to the last week of 2015. The market remained slow for the first half of January and relatively full fuel storage affected both the Arab Gulf and Asia Pacific Markets. China’s oversupply saw it re-export products from India and the Arab Gulf. This weak demand saw the jet fuel index drop to 8 USD per barrel.
At the end of the first week of jet fuel trading, poor demand had an impact on the Asia Pacific Market. Japan commenced export after a three-month cessation, moving shipments to Northwest Europe. The price drop of 15% because of oversupply and less demand saw the European market take advantage of the cheaper market rates. According to some industry sources, by the end of January, more than 320,000 mt of jet fuel will be delivered to the Northwest European market from Asia and the Arab Gulf. On January 7, China National Aviation Fuel decided to limit the export of jet fuel to 15,000 mt down from 60’000 mt in an attempt to increase the price. However, this wasn’t a success and the following week saw the biggest drop in the market.
Recently, the Ceylon Petroleum Corporation bought 190’000 MT of jet fuel from Singapore to stockpile until the market improves. Market sources suggest that the price of jet fuel is expected to move upward again and Asian refineries have decided to export unsold products to U.S. and Northwest Europe. However, the fuel price dropped 1% for the third week inspiring refineries to decrease production and to increase export to the U.S. market.
Cold weather in Northeast Asia in mid-January saw most of the Asian refineries postpone export. The barrel price increased by 1% in the Asian market, but Arab Gulf refineries didn’t limit production and cargoes were exported from the Middle East to Europe and the U.S. The result was a 6.5% drop in prices globally. The cessation of export from the Asia Pacific saw Europe demand more cargoes from the Arab Gulf. It has been confirmed that over 220,000 mt of jet fuel was ordered from Middle Eastern refineries. Because of the limitation on supply and export from the Asian market due to the bad weather, the fuel price index is slightly higher than the previous week and this will continue until the end of January when the weather is expected to improve in the Asian region and export begins again.
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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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