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)
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