Iran awards ethylene tender to S America buyer

13 August 2008 11:35  [Source: ICIS news]

SINGAPORE (ICIS news)--State-run Iran Petrochemical Commercial Co (IPCC) has sold a 4,500-5,000 tonne ethylene cargo via tender to an unnamed buyer in Latin America at around $1,800/tonne, said a company source on Wednesday.

 

The tender, on a cost and freight (CFR) basis, for the first half of September loading closed on Tuesday and attracted limited buyer interest from southeast Asia, with bids in the low $1,300s/tonne CFR level, which were deemed less attractive, the source added.

 

Traders speculated the cargo was headed to Venezuela but this could not be confirmed.

 

Iran is a major exporter of ethylene, which is usually loaded from Assaluyeh and/or Bandar Imam Khomeini (BIK).

 

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By: Peh Soo Hwee
+65 6780 4359

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