06 May 2013 10:21 [Source: ICIS news]
SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has issued a tender to sell two naphtha cargoes totalling 73,000 tonnes for loading from Mumbai in June, traders said on Monday.
BPCL is offering a 38,000 tonne cargo for loading on 11-13 June, while the 35,000 tonne parcel is offered for loading on 28-30 June, they added.
Bids must be submitted by 9 May and they would stay valid until 10 May, traders said.
BPCL previously sold by tender a total of 145,000 tonnes of naphtha for loading from June to August.
Japanese trading firm Marubeni was the buyer of the two combined cargoes for loading in the second half of June and the second half of August, they added. Each combined cargo comprises 35,000 tonnes of naphtha for loading from Mumbai and 20,000 tonnes of naphtha for loading from Kochi.
The June-loading cargo fetched a premium of $33/tonne (€25/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.
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.
($1 = €0.76)
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