UpdateIndia’s Essar Oil sells 35,000 tonnes naphtha for Mar loading

26 February 2013 02:16  [Source: ICIS news]

(Adds details in paragraphs 3-4)

SINGAPORE (ICIS)--India’s Essar Oil has sold by tender a 35,000 tonne naphtha cargo for loading from Vadinar on 22-26 March, traders said on Tuesday.

The buyer is Dutch trading firm Vitol, they added.

The deal for the cargo was done at a premium of $57-58/tonne to Middle East quotes FOB (free on board), traders said.

The premium increased sharply from the previous tender because of robust regional demand, they said.

Essar last sold by tender a 35,000 tonne naphtha cargo to Dutch trading firm Trafigura. The deal for the cargo was done at a premium of $38/tonne (€29/tonne) to Middle East quotes FOB for loading from Vadinar on 20-24 February.

($1 = €0.76)


By: Felicia Loo



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