28 January 2014 02:25 [Source: ICIS news]
SINGAPORE (ICIS)--Around a million tonnes of deep-sea naphtha fixtures is bound for Asia with arrival in March, traders said on Tuesday.
The arbitrage supply from Europe is expected to climb higher depending on the markets of liquefied petroleum gas (LPG) and gasoline, they added.
So far for February, the deep-sea naphtha supply from the western markets – from northwest Europe, the Mediterranean, Russia and the US – totalled close to 2m tonnes in February, the traders added.
“If given strong LPG, crackers in Europe will use more naphtha,” said one trader, adding that would curtail further shipments heading to the east of Suez.
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