

SINGAPORE, Dec 7 (Reuters) - Asian gasoil prices remained weak as adequate
supply weighed on the market amid weak demand and due to a limited impact on
prices after an earthquake in Japan.
The January gasoil crack slipped 19 cents to $20.37 a barrel above Dubai
crude, Reuters data showed.
A strong quake centred off northeastern Japan shook buildings as far away as
Tokyo on Friday and triggered a one-metre tsunami in an area devastated by last
year's Fukushima disaster, but there were no immediate reports of deaths or
serious damage.
But no irregularities were reported at any of the nuclear plants or oil
refineries after the area was hit by the 7.3 magnitude earthquake, companies and
a nuclear regulator said.
Traders appeared to have also already priced in an impending planned
maintenance in Malaysia.
Malaysia's national oil firm Petronas is likely to shut a
100,000-barrels-per-day (bpd) crude distillation unit at the Melaka-2 facility,
on Malaysia's west coast, for about 2-1/2 weeks in January, an industry source
said.
'But there should be minimal impact in terms of imports during the time,' the
source added.
This coincides with planned maintenance by Reliance Industries at its newer
refinery in Jamnagar. But the impact on prices is limited as demand is still
weak within Asia, traders said.
Also adding to supply, India's Mangalore Refinery and Petrochemicals Ltd
(MRPL) and Taiwan's CPC Corp have issued tenders to sell gasoil in January.
Swiss trader Trafigura has provisionally booked the Bright Grace to load
230,000 tonnes of gasoil from South Korea on Dec. 19, industry sources said. The
cargo is likely headed to West Africa, one of them said.
It is not clear if the vessel is being chartered for floating storage, but
Trafigura has bought at least about 1 million barrels (or about 135,000 tonnes)
of high sulphur gasoil to be loaded from Singapore in December, Reuters data
showed.
The company is a regular supplier of the fuel into Africa and often charters
floating vessels to store gasoil in that region, an industry source said.
* TENDERS: MRPL has offered 40,000 tonnes of jet fuel for Jan. 18-20 loading
and 40,000 tonnes of 0.5 percent sulphur gasoil for Jan. 9-11 loading. Both
tenders close on Dec. 12 and are valid until Dec. 13.
- CPC has offered 250,000 to 300,000 barrels of 500 ppm sulphur diesel and
60,000 barrels of one percent sulphur gasoil for loading in January. The tender
closes on Dec. 10 and is valid until Dec. 12.
* SINGAPORE CASH DEALS: One jet deal, two gasoil trades.
- Hin Leong sold 245,000 barrels of jet fuel for Dec. 23-27 loading to China
Aviation Oil at a premium of 10 cents a barrel to the average of Dec. 24-31
Singapore quotes.
- Shell bought 150,000 barrels of 500 ppm sulphur gasoil for Dec. 22-26
loading from Trafigura at a premium of 30 cents a barrel to the average of
January quotes.
- Hin Leong sold 250,000 barrels of 0.5 percent sulphur gasoil for Jan. 2-6
loading at a discount of $1.10 a barrel to the average of January quotes.
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 123.23 -1.57 -1.26 124.80
GO 0.5 Diff -0.25 -0.17 212.50 -0.08
Spot Gas Oil 0.25% 124.12 -1.51 -1.20 125.63
GO 0.25 Diff 0.65 -0.10 -13.33 0.75
Spot Gas Oil 0.05% 124.55 -1.49 -1.18 126.04
GO 0.05 Diff 1.08 -0.08 -6.90 1.16
Spot Gas Oil 126.47 -1.41 -1.10 127.88
0.001%
GO 0.001 Diff 3.00 0.00 0.00 3.00
Spot Jet/Kero 123.27 -1.32 -1.06 124.59
Jet/Kero Diff -0.05 -0.12 -171.43 0.07
SWAPS ($/T) ASIA CLOSE Change % Change Prev PM (1130 GMT)
(0830 GMT) Close
Brent M1 107.23 -1.49 -1.37 108.72
Gasoil M1 123.29 -1.41 -1.13 124.70
Gasoil M1/M2 -0.48 0.02 -4.00 -0.50
Gasoil M2 123.77 -1.43 -1.14 125.20
Regrade M1 0.12 0.22 -220.00 -0.10
Regrade M2 -0.60 0.22 -26.83 -0.82
Jet M1 123.41 -1.19 -0.96 124.60
Jet M1/M2 0.24 0.02 9.09 0.22
Jet M2 123.17 -1.21 -0.97 124.38
Gasoil 0.5%-Dubai 20.37 -0.19 -0.92 20.56
Cracks M1
Gasoil 0.5%-Dubai 20.49 -0.11 -0.53 20.60
Cracks M2
Jet Cracks M1 19.77 0.03 0.15 19.74
Jet Cracks M2 19.89 0.03 0.15 19.86
East-West M1 4.76 2.70 131.07 2.06
East-West M2 5.09 1.80 54.71 3.29
LGO M1 913.75 -13.50 -1.46 927.25
LGO M1/M2 -3.25 -0.75 30.00 -2.50
LGO M2 917.00 -12.75 -1.37 929.75
Crack LGO-Brent M1 15.86 -0.22 -1.37 16.08
Crack LGO-Brent M2 16.73 -0.28 -1.65 17.01
(Reporting by Jessica Jaganathan; Editing by Alison Birrane)
Keywords: MARKETS DISTILLATES/ASIA
(jessica.jaganathan@thomsonreuters.com)(+65 6870 3822)(Reuters Messaging: jessica.jaganathan.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.














