India’s BPCL sells 55,000 tonnes naphtha to Vitol for late March

14 March 2013 04:59  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender two naphtha cargoes totalling 55,000 tonnes to trading firm Vitol for loading in late March, traders said on Thursday.

A 25,000 tonne cargo will be loaded from Mumbai on 25-26 March, while a 30,000 tonne cargo will be loaded form Kochi on 28-29 March, they added.

The deal for the combined cargoes was done at a premium of $55/tonne (€42/tonne) to Middle East quotes FOB (free on board), traders said.

Last week, BPCL sold an 11,000 tonne naphtha cargo to Chinese trading firm Unipec at a premium of $41/tonne for loading from Haldia on 25-29 March, according to one trader familiar with the tender.

In an earlier tender, BPCL sold two 35,000 tonne naphtha cargoes for loading in March. BPCL sold one cargo to Japanese trading firm Marubeni at a premium of $62/tonne to Middle East quotes FOB for loading from Kochi on 1-4 March. BPCL sold the other cargo to Japanese trading house ITOCHU at a premium of $65/tonne to Middle East quotes FOB for loading from Mumbai on 19-21 March.

($1 = 0.77)


By: Felicia Loo



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