India’s BPCL offers spot naphtha supply for loading in May

05 April 2013 08:27  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) is offering by tender three naphtha cargoes with a combined volume of more than 100,000 tonnes for loading in May, traders said on Friday.

BPCL is offering two 38,000 tonne naphtha cargoes for loading from Mumbai on 9-11 May and on 19-21 May, respectively, while the company put on sale a 35,000 tonne cargo for loading from Kochi on 15-18 May, they added.

The tender closes on 8 April, with bids to stay valid until 10 April, traders said.

BPCL last sold by tender a 35,000 tonne naphtha cargo to Japanese company Marubeni for loading from Kochi between 30 April and 3 May.

The deal for the cargo was done at a premium of $50-51/tonne (€38-39/tonne) to Middle East quotes FOB (free on board) quotes.

($1 = €0.77)

By: Felicia Loo

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