05 April 2012 07:41 [Source: ICIS news]
SINGAPORE (ICIS)--Malaysia’s Titan Chemicals has purchased a 30,000 tonne full-range naphtha cargo for mid-May arrival at a premium of $15/tonne (€11/tonne) to CFR (cost & freight) Japan quotes, several traders said on Thursday.
The cargo is priced based on a 30-day formula and is scheduled to be delivered into Pasir Gudang, said the traders.
The parcel is also understood to be of Middle Eastern origin, added the traders.
Titan last purchased a 30,000 tonne full-range naphtha cargo for arrival in the first half of May at plus $13/tonne to CFR Japan quotes, the traders said.
The firm operates a 285,000 tonne/year No 1 cracker and a 435,000 tonne/year No 2 cracker at Pasir Gudang in Malaysia.
($1 = €0.76)
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