Malaysia’s Titan Chemicals buys 50,000-55,000 tonnes of naphtha

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

SINGAPORE (ICIS)--Malaysia’s Titan Chemicals on Friday awarded a tender to buy 50,000-55,000 tonnes of full-range naphtha for delivery in the first half of June, several traders said.

The cargo was sold at plus $15.00-17.00/tonne (€11.40-12.92/tonne) based on CFR (cost and freight) Japan quotes, the traders said.

Titan Chemicals earlier on Friday issued a tender to buy 25,000-30,000 tonnes of full-range naphtha, the traders said. However, the company decided to increase its purchase volume in view of current naphtha prices, the traders added.

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 last purchased 25,000-30,000 tonnes of full-range naphtha at plus $17.00/tonne based on CFR Japan quotes on 27 April, the traders said.

($1 = €0.76) 

By: Quintella Koh
+65 6780 4372

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