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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|