India’s MRPL offers 35,000 tonnes naphtha for late-Dec loading

25 November 2013 02:18  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) is selling by tender a 35,000 tonne naphtha cargo for loading from the New Mangalore port in late December, according to a tender document obtained by ICIS on Monday.

The loading dates for the cargo are on 28-30 December, it showed.

The tender closes on 27 November, with bids to stay valid until 28 November, the document indicated.

MRPL re-emerged in the spot market to offer naphtha supply, following a month of hiatus because of upgrading works at its refinery, traders said.

In its previous tender, the refiner sold a 35,000 tonne naphtha cargo for loading from the New Mangalore port on 5-7 December. The deal for the cargo was done at a premium of $26/tonne (€19/tonne) to Middle East quotes FOB (free on board). The buyer was Japanese trading firm Marubeni.

Overall, naphtha exports from India are expected to climb to 650,000 tonnes in December from November’s shipment volumes of 600,000 tonnes, following of the end of turnarounds at major refineries in the country.

($1 = €0.74)

By: Felicia Loo

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