India’s HPCL sells 25,000 tonnes August naphtha at lower premium

26 July 2012 10:45  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Hindustan Petroleum Corp Ltd (HPCL) has sold by tender a 25,000 tonne naphtha cargo for 9-11 August loading at a premium that is 13% lower than its previous sale, traders said on Thursday.

The naphtha parcel, which was bought by Trafigura, is scheduled to be loaded from Mumbai, they said.

The premium fetched was at $22-23/tonne to Middle East quotes FOB (free on board), which is $3-4/tonne or 13% lower than HPCL’s sale for 1-3 August loading, they added.

“Premiums have to start softening, in line with the lower spot and crack spreads,” a South Korean trader said.

By: Ong Sheau Ling
+65 6780 4359

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