India’s FACT buys ammonia cargo under tender

20 January 2012 14:30  [Source: ICIS news]

LONDON (ICIS)--Indian fertilizer manufacturer Fertilizer and Chemicals Travancore Ltd (FACT) has made an award to Kuwait’s Petrochemicals Industries Co (PIC) under its 17 January ammonia purchase tender, traders sources said on Friday.

FACT purchased 6,000 tonnes of ammonia from PIC at $460/tonne (€354/tonne) CFR (cost and freight).

The cargo is scheduled to be delivered to Cochin 5-8 February.

FACT received two offers under the purchase tender, with the other from Qatar Fertilizer Co (Qafco) at $465/tonne CFR.

Trader sources said that FACT had also purchased a spot cargo from trader CIFC at $465/tonne CFR. The 8,400-tonne cargo loaded in Iran this week and is due to be delivered to Cochin on 21 January.

FACT had last tendered on 1 November, but the tender was scrapped after the only offer from Kuwait’s Petrochemical Industries Co (PIC) at $700/tonne CFR was considered too high.

($1 = 0.77)

For more on ammonia visit ICIS pricing fertilizers

By: Rebecca Clarke
+44 20 8652 3214

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