25 June 2012 08:28 [Source: ICIS news]
SINGAPORE (ICIS)--India-based Mangalore Refinery and Petrochemicals Ltd (MRPL) sold by tender its naphtha parcel for 18-20 July loading, at a premium on par with its sales done for mid-July loading, traders said on Monday.
The 35,000-tonne naphtha cargo – the third lot for July loading, which was offered on 19 June, was sold late on 22 June to a European trading house – Gunvor at a premium of $14.00/tonne (€11/tonne) to FOB (free on board) ?xml:namespace>
“Market is realising the lack of arbitrage cargoes from Europe coming into Asia in August as a result of the refinery cuts [in
($1 = €0.80)
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