India’s Reliance sells 55,000 tonnes naphtha for late Oct

26 September 2013 08:55  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has sold by tender 55,000 tonnes of naphtha for loading from Sikka on 25-30 October, traders said on Thursday.

The deal for the cargo was done at a premium of $15-17/tonne (€11-13/tonne) to Middle East quotes FOB (free on board), they added.

The buyer was trading firm Glencore, traders said.

In its previous tender, Reliance sold two naphtha cargoes totalling 110,000 tonnes for loading from Sikka during 8-17 October.

Reliance sold the two 55,000-tonne cargoes at a premium of $23-24/tonne to Middle East quotes FOB, to Japanese trading firm Itochu and trading firm Glencore.

($1 = €0.74)

By: Felicia Loo

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