Corrected: IOC awards H1 May naphtha sell tenders

10 April 2008 05:09  [Source: ICIS news]

Correction: In the ICIS news story headlined "IOC awards H1 May naphtha sell tenders" dated 9 April 2008, please read in the third paragraph …cargo from Kandla was sold at a premium of around $6/tonne… instead of …a premium of around $2-3/tonne…. A corrected story follows.

SINGAPORE (ICIS news)--Indian Oil Corp (IOC) has awarded its tenders to sell 92,000-93,000 tonnes of full range naphtha for lifting in the first half of May, industry sources said on Thursday.

The tenders offered a 30,000-tonne cargo to be lifted from IOC’s Kandla refinery over 7-10 May, one 30,500-31,500 tonne cargo to be lifted from Dahej over 1-3 May and another similar cargo from the same refinery over 11-13 May.

The cargoes from Dahej were sold at a premium of around $9/tonne (€5.67/tonne) to Middle East quotes FOB (free on board) while the cargo from Kandla was sold at a premium of around $6/tonne. One of the Dahej cargoes was sold to an unidentified Middle East trader.

All the tenders closed on 8 April and were valid till 9 April.

IOC previously sold a 30,000 tonne cargo at a premium of $3.75/tonne to a western trader for 20-23 April loading from Kandla.

($1 = €0.63)

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