Passenger traffic at Japan’s Narita grows in February

Market: Oil products
14/04/10

Singapore, 14 April (Argus) — International passenger traffic through Japan's Narita international airport rose in February, with domestic passenger numbers showing firm growth and maintaining a trend seen at the end of last year.

International passenger volumes were 2.49mn in February, a rise of 7pc from the same month a year previously and following on from a trend that January that saw a 4pc increase from a year earlier. Domestic passenger numbers in February surged by 31pc from a year previously to 114,191.

Cargo throughput at the airport also saw strong growth of 156,392t for February, an increase of 42pc from levels a year ago.

The higher passenger traffic points to growing jet fuel demand, even as international jet-kerosine prices have rise in the wake of high crude prices. Singapore jet-kerosine prices have climbed above $90/bl on a fob basis this month. Prices were at $61/bl the same time in 2009.

Improved sentiment saw the regrade, or the spread between jet-kerosine and gasoil, move back to $0.20/bl after languishing in negative territory most of last week with limited freight economics to ship northeast Asian supplies to the US west coast.

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Passenger traffic at Japan’s Narita grows in February

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