India’s HPCL offers 60,000 tonne Jul-Aug naphtha

20 May 2009 08:52  [Source: ICIS news]

SINGAPORE (ICIS news)--India’s Hindustan Petroleum Corp (HPCL) has offered up to 60,000 tonnes of naphtha for July-August lifting from Vizag, Andhra Pradesh, industry sources said on Wednesday.

A 25,000-30,000 tonne cargo of open spec naphtha would be offered for lifting in July, while another cargo of similar volume would be available for August-lifting. The tender would close on 20 May and would be valid until the same date.

HPCL previously sold a smaller 20,000 tonne parcel at a discount of $7-8/tonne (€5.1-5.8/tonne) to Middle East quotes FOB (free on board) Mumbai for lifting over 25-27 May.

This steep discount, however, could not be considered reflective of market conditions due to the small size of the cargo which will have higher freight costs. The minimum requirement for loading a vessel is 30,000 tonnes.

To discuss issues facing the chemical industry go to ICIS connect

By: Desmond Chia
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly