India’s HPCL sells 20,000 tonnes naphtha at $22/tonne premium

02 October 2012 03:26  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Hindustan Petroleum Corp Ltd (HPCL) has sold by tender 20,000 tonnes of naphtha for loading from Mumbai in the second half of October, traders said on Tuesday.

The buyer was energy major Shell, which paid a premium of $22.00/tonne (€17.20/tonne) to Middle East quotes FOB (free on board) for loading from Mumbai on 15-22 October, they said.

“This is a partial cargo,” said one trader.

He added that the buyer would have to load the cargo with another cargo so that the volume would be increased to fit a medium-range vessel which can carry 30,000-35,000 tonnes of naphtha or a long-range vessel with a capacity of 50,000-75,000 tonnes.

($1 = €0.78)

By: Felicia Loo

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