S Korea's Honam buys 50,000 tonnes naphtha at $10.50/tonne premium

20 September 2012 11:22  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Honam Petrochemical has bought two naphtha cargoes totalling 50,000 tonnes for first-half November delivery at lower premiums because of sliding demand and rising supply, traders said on Thursday.

The cargoes for delivery to Daesan were done at a premium of $10.50/tonne (€8.09/tonne) to Japan quotes CFR (cost and freight), they said.

Honam previously purchased three naphtha cargoes totalling 75,000 tonnes for delivery in the second half of October two cargoes for delivery to Daesan were bought at a premium of $18.50/tonne to Japan quotes CFR, while one cargo for delivery to Yeosu was done at $18.00/tonne to Japan quotes CFR.

($1 = €0.77)

By: Felicia Loo

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