India’s Reliance offers end-March naphtha cargo

18 February 2009 08:01  [Source: ICIS news]

SINGAPORE (ICIS news)—India's Reliance Petroleum is offering an end-March naphtha cargo from Sikka, on the west coast of India, industry sources said on Wednesday.

 The new tender offers a 80,000 tonne cargo of full-range naphtha for lifting over 26-29 March from Sikka. This tender will close on 18 February, with validity up to 19 February.

 This is the third cargo offered in March. The Indian refiner had earlier sold two naphtha cargoes for first half of March loading at high premiums. 

 Sources said Reliance is offering a third March cargo after having clinched very high premiums for the other two cargoes. Industry players do not expect the premiums to remain at such high levels for long as the earlier tightness should ease on an influx of supplies from northwest Europe. 

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By: Desmond Chia
+65 6780 4359

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