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

19 April 2012 02:00  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s Titan Chemicals has issued a tender to buy 25,000-30,000 tonnes of full-range naphtha for delivery from 1-5 June, several traders said on Thursday.

Offers from producers and trading houses are valid until Thursday evening, they said.

The company is buying the cargo on a 30-day formula price based on CFR (cost and freight) Japan quotes, the traders said.

The seller is required to deliver the cargo into Pasir Gudang in Malaysia, where the firm operates a 285,000 tonne/year No 1 cracker and a 435,000 tonne/year No 2 cracker, the traders said.

Titan Chemicals declined to comment on its purchase tender.

The company last purchased a 25,000-30,000 tonne full-range naphtha cargo for end-May arrival at a premium of $10-15/tonne (€8-11/tonne) to CFR Japan quotes on 12 April, according to traders.

($1 = €0.76)

By: Quintella Koh
+65 6780 4372

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