Iran issues second H1 September ethylene tender

21 August 2008 06:28  [Source: ICIS news]

SINGAPORE (ICIS news)--Iran Petrochemical Commercial Co (IPCC) has issued a second tender this month to sell a 4,500 tonne ethylene cargo for early September loading, a source from the commercial arm of state-owned National Petrochemical Co (NPC) and potential buyers said on Thursday.

The cargo was expected to be loaded from Assaluyeh and/or Bandar Imam Khomeini (BIK) during 1-2 September and the tender closes at four in the afternoon Singapore time on 23 August.

IPCC’s first tender cargo for early September loading was heard sold to an unnamed South American buyer at close to $1,800/tonne on a CFR (cost and freight) basis due to poor buyer sentiment in Asia.

Traders had speculated that the shipment was headed for Venezuela, where there was some demand from the downstream polyethylene (PE) sector.

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By: Peh Soo Hwee
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