India’s Hindustan, IOC offer naphtha cargoes

07 May 2008 10:03  [Source: ICIS news]

SINGAPORE (ICIS news)--Two Indian producers are offering naphtha cargoes for June and July lifting, industry sources said on Wednesday.

Hindustan Petroleum Corp (HPCL) is offering to sell about 100,000-120,000 tonnes of naphtha for June and July lifting, industry sources said.

A 25,000-30,000 tonne cargo will be offered each for lifting over 14-16 June, 27-29 June, 9-11 July and 21-23 July from the port of Vizag (Vizakhapatnam) on India’s east coast.

The tenders close on 13 May and are valid till the same date.

HPCL previously sold a similar spot cargo at premium of $14-15/tonne to Middle East quotes FOB (free on board) ex-Vizag over 10-12 May to a western major.

Indian Oil Corp has issued a tender for a 30,000 tonne cargo of open spec naphtha for lifting over 1-4 June from Chennai. The tender closes on 12 May and is valid till the next day.

IOC previously sold a similar cargo at a premium of $15.77/tonne tonne to Middle East quotes FOB (free-on-board) Chennai for lifting over 10-13 May to a western trader.

($1 = €0.65)

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By: Desmond Chia
+65 6780 4359

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