Indian Oil sells 35,000-40,000 tonnes naphtha ex-Dahej

13 May 2013 10:10  [Source: ICIS news]

SINGAPORE (ICIS)--Indian Oil Corp (IOC) has sold by tender a naphtha cargo of 35,000-40,000 tonnes for loading from Dahej on 30 May-1 June, traders said on Monday.

The buyer was Japanese firm Marubeni, which paid a premium of $27.00/tonne (€20.80/tonne) to IOC pricing formula FOB (free on board) for the cargo, they added.

IOC previously sold by tender a 30,000 tonne naphtha cargo to Total for loading from Kandla on 23-25 May, at a premium of $24.00/tonne to IOC pricing formula FOB.

In an earlier tender, IOC sold a 20,000 tonne naphtha cargo for loading from Kandla on 8-10 May as well as a 10,000 tonne naphtha cargo for loading from the same port on 14-16 May. Trading firm Vitol was the buyer and the deal for the cargoes was done at a premium $36.30/tonne to IOC pricing formula FOB.

In the same tender, IOC also sold 35,000-40,000 tonnes of naphtha to Total for loading from Dahej on 14-16 May, at a premium $36.15/tonne to IOC pricing formula FOB.

($1= €0.77)


By: Felicia Loo



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