Malaysia’s Titan Chemicals seeks 25,000-30,000 tonnes naphtha

12 April 2012 09:00  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s Titan Chemicals is seeking 25,000-30,000 tonnes of full-range naphtha for delivery at the end of May on the spot market, several traders said on Thursday.

The company is intending to award the tender to purchase this evening, the traders said.

Titan Chemicals usually buys spot naphtha cargoes priced on a 30-day formula based on CFR (cost and freight) Japan quotes, they said.

The seller is required to deliver the cargo into Pasir Gudang, they added.

Titan Chemicals last purchased a 30,000 tonne full-range naphtha cargo for mid-May arrival at a premium of $15/tonne (€11/tonne) to CFR Japan quotes on 5 April.

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)

By: Quintella Koh
+65 6780 4372

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