India's FACT issues fresh ammonia tender

26 November 2012 12:39  [Source: ICIS news]

LONDON (ICIS)--Indian manufacturer Fertilisers and Chemicals Travancore (FACT) has issued its first ammonia tender for eight months as it seeks an 8,000-tonne parcel for first-half December delivery to Cochin, market sources said on Monday.

The tender closes on 28 November and offers are requested to remain valid until 3 December. The cargo must arrive at Cochin by 15 December at the latest.

Ammonia prices have soared in recent months due to a combination of robust demand and tight availability, with ammonia shipments from the Middle East to India currently priced at an average $736/tonne (€567/tonne) CFR (cost and freight).

FACT last closed a tender on 2 April for two 6,000-tonne ammonia parcels for late April and early May delivery to Cochin.

The lowest offer was submitted by Kuwait’s Petrochemical Industries Co (PIC) at $520/tonne CFR for both parcels. Qatar Fertilizer Co (Qafco) also offered, at $525/tonne CFR.

($1 = €0.77)

By: Richard Ewing
+44 208 652 3214

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