India’s Essar scraps tender to sell 140,000 tonnes naphtha

21 November 2012 07:11  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Essar Oil has cancelled a tender that offered four 35,000-tonne naphtha cargoes for loading from Vadinar from December 2012 to March 2013, traders said on Wednesday.

One cargo was originally slated for loading each month in the tender that closed on 14 November, they said.

The lower-than-expected bids resulted in the tender cancellation, traders added.

In its last tender, Essar Oil sold a 35,000-tonne naphtha cargo to Mitsubishi Corp at a premium of $49/tonne (€38/tonne) to Middle East quotes FOB (free on board) for loading from Vadinar between 30 November and 4 December.

($1 = €0.78)

By: Felicia Loo

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly