04 November 2010 14:34 [Source: ICIS news]
LONDON (ICIS)--Indian fertilizer manufacturer Fertilizers and Chemicals Travancore Ltd (FACT) received two offers under its latest ammonia tender which closed on 4 November, market sources said on Thursday.
FACT tendered for 7,500 tonnes of ammonia for delivery to Cochin in India from 25-30 November.
The lowest offer was submitted by Qatar Fertilizer Co (QAFCO) at $435/tonne (€309/tonne) CFR (cost and freight).
Trader Transammonia made an offer at $459.50/tonne CFR.
Offers were requested to remain valid until 11 November.
QAFCO said its offer was based on a price of around $405/tonne FOB (free on board), given freight indications in the high-$20s/tonne.
It would ship the product to FACT on the Almajedah in combination with a delivery to another buyer on India's west coast.
FACT scrapped its last ammonia tender amid reports of problems with its phosphoric acid production and high prices. Under the previous tender the lowest offer was also submitted by QAFCO, at $455/tonne CFR.
FACT last bought ammonia in early September from Transammonia at $372/tonne CFR.
($1 = €0.71)
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