FACT India receives offers under ammonia tender

03 July 2014 12:05 Source:ICIS News

LONDON (ICIS)--India’s Fertilisers and Chemicals Travancore Ltd (FACT) received three offers under its 3 July purchase tender for 2 x 7,500 tonnes of ammonia, market sources said on Thursday.

FACT is looking for two 7,500-tonne ammonia cargoes, with the first lot to be delivered to Cochin 31 July-4 August and the second lot 10-15 August.

Sources said offers were received from traders Kribhco, Trammo and CIFC. Qatari supplier Muntajat said it was unable to offer due to a lack of availability.

Only technical offers have been opened thus far, so no price offers have been heard. But there is unconfirmed talk in the market that one of the second lots had been offered at $560/tonne CFR (cost and freight).

FACT last purchased ammonia from Muntajat under its 6 June purchase tender. FACT bought two 7,500-tonne lots for July delivery at $545-555/tonne CFR.

FACT is also due to close a tender on 14 July for 120,000 tonnes of ammonia to be delivered in 7,500-tonne lots over a 6-12 month period.

By Rebecca Clarke