11 April 2013 10:32 [Source: ICIS news]
LONDON/SINGAPORE (ICIS)--Around 300,000 tonnes of deep-sea naphtha supply from the US are expected to land in Asia in May, aggravating the ample supply situation in the region at a time of weakening petrochemical demand, traders said on Thursday.
“The barrels are from the US Gulf Coast. It’s massive this time,” said a based-Singapore-trader.
The arbitrage volumes from the US Gulf Coast (USGC) are unusually big, traders said. The material is of heavy grade naphtha, they added.
"Lots of cargoes are moving from USGC to Far East, so [product flow from Northwest Europe to] East will slow down as well. USGC is becoming long gradually," said one trader in London.Initial reporting by Cuckoo James
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