India's FACT awards local trader CIFC under August ammonia tender

13 August 2013 12:35  [Source: ICIS news]

LONDON (ICIS)--Fertilizers and Chemicals Travancore (FACT) has awarded New Delhi-based trader CIFC under its recently-closed tender for 7,000 tonnes (+/- 5%) of ammonia for prompt arrival in west coast India, market sources said on Tuesday.

The industrial group received four offers for its sixth ammonia tender of 2013, of which CIFC's offer at $454/tonne (€340.50/tonne) CFR (cost and freight) Kochi (formerly Cochin) was the lowest.

Saudi producer SABIC offered at $429/tonne FOB (free on board), Muntajat – the marketer of Qatar Fertiliser Co (QAFCO) products – at $485/tonne CFR, and Paris-based trader Transammonia (Trammo) at $527/tonne CFR.

According to the terms of the tender, the cargo must arrive at the port between 20-25 August. CIFC will likely source the ammonia in Iran.

($1 = €0.75)

By: Richard Ewing
+44 208 652 3214

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