China Aviation Oil to expand trading activity
China Aviation Oil (CAO), Asia’s largest jet fuel buyer and China’s main provider, is expanding its trading activity to other markets (Reuters, 14-Jun-2011).
CAO: "Even if the Chinese economy cools down, civil aviation will still maintain double-digit increases. China is the second-biggest market for jet fuel after the US but demand is six times higher there, so there is a lot of potential. The goal is to be the leader in jet fuel trading by 2014 in Asia Pacific, and to do so ... we must also explore other markets outside of China proactively and that is the main reason for us to engage in proprietary trading”, Meng Fanqiu, CEO. Source: Reuters, 14-Jun-2011.