IPCC sells H2 September ethylene cargo to Europe

11 September 2008 10:43  [Source: ICIS news]

SINGAPORE (ICIS news)--Iran Petrochemical Commercial Co (IPCC) has sold a 4,500-tonne ethylene cargo for second-half September loading via tender to Mediterranean Europe, a source close to the commercial arm of state-owned National Petrochemical Co (NPC) said on Thursday.

 

The cargo was heard sold at around €1,060/tonne ($1,493/tonne) on a CFR (cost and freight) basis, he said, declining to provide further details.

 

This would be the last tender cargo for sale in September and there could be one or two shipments available for October delivery, he added.

 

Some traders said the sale price was a better netback than selling to Asia but they were not sure if buyers would accept such a high price partly due to lengthy supply in Europe.

 

IPCC’s previous tender cargo was sold to southeast Asia at above $1,300/tonne CFR for 19-20 September lifting.

 

($1 = €0.71)

 

For more on C2 visit ICIS chemical intelligence

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By: Peh Soo Hwee
+65 6780 4359

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