India’s BPCL sells 145,000 tonnes naphtha for June-August

25 April 2013 09:29  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender a total of 145,000 tonnes of naphtha supply for loading from June to August, traders said on Thursday.

Japanese trading firm Marubeni was the buyer of two combined cargoes for loading in the second half of June and the second half of August, they added. For each combined cargo, it comprises 35,000 tonnes of naphtha for loading from Mumbai as well as 20,000 tonnes of naphtha for loading from Kochi, traders said.

The June-loading cargo fetched a premium of $33.00/tonne (€25.40/tonne) to Middle East quotes FOB (free on board), while the deal for the August-loading cargo was done at a premium of $30/tonne to Middle East quotes FOB, they added.

In the same tender, Total bought a 35,000 tonne naphtha cargo for loading from Mumbai in the second half of July, at a premium of $31/tonne to Middle East quotes FOB, traders said.

In its previous tender, BPCL sold 35,000 tonnes of naphtha to Japanese firm ITOCHU for loading from Kochi on 15-18 May. The deal for the cargo was done at a premium of $42/tonne to Middle East quotes FOB.

In the same tender, BPCL sold two 38,000 tonne naphtha cargoes to PetroDiamond for loading from Mumbai in May. The deal for the cargo for loading on 9-11 May was done at a premium of $38/tonne to Middle East quotes FOB, while the second cargo fetched a premium of $36/tonne to Middle East quotes FOB for loading on 19-21 May.

($1 = €0.77)


By: Felicia Loo



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