12 September 2011 10:42 [Source: ICIS news]
LONDON (ICIS)--Indian fertilizer manufacturer Fertilizer and Chemicals Travancore Ltd (FACT) has received just one offer under its 12 September ammonia purchase tender amid a tight market, trader sources said on Monday.
Qatar Fertilizer Co (QAFCO) submitted the only offer at $605/tonne (€442/tonne) CFR (cost and freight).
Kuwait’s Petrochemical Industries Co (PIC), SABIC and trader Transammonia sent their regrets as they could not make an offer, sources said.
FACT tendered for 7,500 tonnes of ammonia for 25–30 September or earlier delivery to Cochin.
The tender has come at a time of limited global supply due to maintenance turnarounds, unexpected plant shutdowns and strong demand, and as a result there was little product available to be offered.
No award has been announced and there are expectations that the tender could be scrapped given the high offer price, which reflects the tight supply.
Recent contract business in India has been priced in the range $555–567/tonne CFR.
($1 = €0.73)
For more on ammonia visit ICIS pricing fertilizers
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