S Korea’s Honam buys 50,000 tonnes naphtha at slight discount

19 June 2012 04:31  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought by tender two 25,000-tonne naphtha parcels for arrival at Daesan in the second half of July at a slight discount, a source close to the company said on Tuesday.

The cargoes, purchased late on Monday, were concluded at a slight discount to Japan quotes CFR (cost & freight) for full-range naphtha.

“The discount is smaller because of the more specific grade,” he said without elaborating further.

Honam is still seeking for another naphtha lot for second half of July arrival, according to the source.

The company on 14 June bought two 25,000-tonne cargoes of open-spec naphtha for delivery in the second half of July at a discount of $4-5/tonne (€3-4/tonne) to Japan quotes CFR.

($1 = €0.79)

By: Ong Sheau Ling
+65 6780 4359

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