Taiwan's FPCC awards May jet kerosene tender to Hong Kong trader

12 April 2012 11:15  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has awarded a tender offering 300,000 bbl of jet kerosene for loading on 17-23 May, a company source said on Thursday.

The tender was awarded to Hong Kong trading firm Gracewood (GNT) at a weaker premium of Singapore market quotes plus 5 cents/bbl FOB (free on board) Taiwan, the source added. The cargo was expected to be placed into China.

The tender closed on 11 April.

Previously, FPCC awarded a tender offering 300,000 barrels of jet kerosene for loading on 17-23 April to Shell at around Singapore market quotes plus 20-25 cents/bbl FOB Taiwan, the source added.

Jet kerosene valuations have been under downward pressure in recent weeks amid weaker demand from the airline sector.

FPCC operates a 540,000 bbl/day refinery at Mailiao, which is the only privately owned oil refinery in Taiwan.

By: James Dennis
+65 6780 4359

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