Indonesia’s Pertamina issues August propylene tender

29 July 2010 09:59  [Source: ICIS news]

SINGAPORE (ICIS)--Pertamina has issued a tender to sell three propylene cargoes for August loading, sources close to the Indonesia-based refinery operator said on Thursday.

The tender, which is to be awarded on a FOB (free on board) Balongan basis, closes on 30 July, the sources said, adding that the price would be determined by a formula linked to published prices in southeast Asia.

The size of each cargo is around 1,500 tonnes, the sources said.

Pertamina supplies propylene mainly to its downstream polypropylene (PP) customer, Polytama Propindo.

According to one source, the tender came about because Pertamina had some surplus propylene to export next month. The source did not provide further details.

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By: Peh Soo Hwee
+65 6780 4359



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