Taiwan's FPCC issues H2 June naphtha buy tender

22 April 2008 04:46  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan's Formosa Petrochemical (FPCC) has issued a tender to buy 75,000 tonnes of 70% open spec naphtha for delivery in the second half of June, industry sources said on Tuesday.

 

The tender, which seeks delivery over 16-30 June, into Mailiao, closes on 22 March.

 

Formosa previously bought a similar cargo at a premium of around flat to minus $1/tonne CFR (cost and freight) Taiwan for delivery over 16 April 10 May into Mailiao.

 

The company had earlier bought liquefied petroleum gas (LPG) to be used as a feedstock instead of expensive naphtha, but could replace only 20% of its feedstock requirements with LPG. Some northeast Asian end-users had also switched to LPG.

By: Desmond Chia
+65 6780 4359

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