Formosa clinches H1 Apr naphtha buy tender

27 February 2008 02:27  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan's Formosa Petrochemical Corp (FPC) was awarded a naphtha buy tender for delivery at a premium of $2.00/tonne to Japan quotes CFR (cost-and-freight), industry sources said on Wednesday.

The tender sought 75,000 tonnes of open spec naphtha for first half of April delivery into Mailiao. Seller details remain sketchy, the sources added.

The tender closed on 26 February with validity till the same day.

FPC earlier bought a larger-than-expected 450,000 tonnes of naphtha for second half of March till first half of April delivery at a premium of $1.50/tonne to Japan quotes CFR.

($1 = €0.67)

By: Desmond Chia
+65 6780 4359

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