IOC awards H1 April naphtha sell tenders

14 March 2008 09:21  [Source: ICIS news]

SINGAPORE (ICIS news)--State-run Indian Oil Corp (IOC) has awarded its first half of April sell tenders for four cargoes of 30,000 tonnes of naphtha each, trading sources said on Friday.

Two cargoes from Dahej refinery would be lifted on 3-5 April and 12-14 April, while another cargo would be lifted from Kandla over 8-11 April, they added.

IOC reported sold all three cargoes at a premium of around $6/tonne FOB (free on board) over Middle East quotes to a Middle East trader.

A fourth cargo was sold at a premium of around $18/tonne over Middle East quotes FOB Chennai for 4-7 April loading. The buyer was said to be a western trader.

All tenders closed on 12 March, and were valid till 13 March.

IOC previously sold six cargoes for October to March loading at a premium of $8/tonne over Middle East quotes, FOB Kandla, and seven cargoes of 31,500 tonnes of naphtha each at a premium of around $7/tonne over Middle East quotes on FOB Dahej basis.

By: Desmond Chia
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly