South Korea’s Honam Petrochemical opens tender to buy term naphtha

19 June 2012 08:43  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has opened its tender to buy term naphtha supply for delivery in July 2012 to June 2013, traders said on Tuesday.

No details were specified on the volumes delivered to Yeosu and Daesan ports, they added.

The tender will close on 20 June, with bids will be valid till 22 June.

Most traders were not keen in offering for this term contract because it was difficult to secure premiums, given the bearish sentiment.

“The term will likely conclude at discount levels, close to Honam’s latest spot purchases. So, I don’t think traders are interested,” a Singapore-based trader said.

Late on 18 June, Honam bought two 25,000 tonne cargoes of full-range naphtha at a slight discount to Japan quotes CFR (cost & freight).


By: Ong Sheau Ling
+65 6780 4359



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