Taiwan’s CPC Corp delays award of naphtha tender on Typhoon Saola

02 August 2012 06:10  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp has delayed awarding its 30,000-tonne full-range naphtha tender for first-half September delivery to Kaohsiung as offices islandwide are closed on Thursday because of inclement weather, a company source said.

Typhoon Saola slammed into Taiwan on Thursday morning, bringing with it torrential rains.

CPC’s buy tender closed on 1 August, but the company has yet to decide on the winning bidder, the source said.

The company has recently returned to the spot market to purchase material after an absence of nearly four months, traders said.

Its last purchase was in early April for a 55,000-tonne full-range naphtha cargo for second-half May delivery from trading house Vitol. The cargo fetched a premium of $9.00-13.00/tonne (€7.38-10.66/tonne) to CFR (cost and freight) Japan quotes.

($1 = €0.82)

By: Ong Sheau Ling
+65 6780 4359

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