Malaysia's Titan buys early June naphtha at $17/tonne premium

19 April 2012 10:00  [Source: ICIS news]

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

The company is buying the cargo at plus $17.00/tonne (€12.92/tonne) on a 30-day formula price based on CFR (cost and freight) Japan quotes, they said.

The seller is required to deliver the cargo into Pasir Gudang in Malaysia, where Titan 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 to CFR Japan quotes on 12 April.

($1 = €0.76)

By: Quintella Koh
+65 6780 4372

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