India’s BPCL sells 35,000 tonnes naphtha for 30 April-3 May loading

03 April 2013 10:16  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender a 35,000 tonne naphtha cargo to Japanese company Marubeni for loading from Kochi between 30 April and 3 May, traders said on Wednesday.

The deal for the cargo was done at a premium of $50-51/tonne (€39-40/tonne) to Middle East quotes FOB (free on board) quotes, they added.

The premiums softened from BPCL’s previous tender sale, because of persistently high deep-sea volumes from the western markets and weakening plastics demand, traders said.

In its last tender, BPCL sold a 35,000 tonne naphtha cargo to trading firm Vitol for loading from Kochi on 9-14 April at a premium of $56/tonne to Middle East FOB quotes.

($1 = €0.78)

By: Felicia Loo

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