India’s MRPL offers 35,000 tonnes naphtha for late Oct loading

24 September 2012 02:43  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) has issued a tender to sell a 35,000 tonne naphtha cargo for loading in late October, a tender document showed on Monday.

The loading dates are 29-31 October from a port in New Mangalore on the West Coast of India, according to the document.

The tender closes on 26 September and the bids will remain valid until 27 September, it said.

MRPL previously sold by tender 35,000 tonnes of naphtha to Statoil at a premium of $34.70/tonne (€26.72/tonne) to Middle East quotes FOB (free on board) for loading on 18-20 October, traders said.

In an earlier tender, MRPL sold 35,000 tonnes of naphtha to Chinese trading firm Unipec at a premium of $46.00/tonne to Middle East FOB for loading on 11-13 October.

The premiums had shrunk because of rising exports from Indian refiners as well as increased deep-sea flows from Europe, traders said.

($1 = €0.77)

By: Felicia Loo

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