IPL India extends closing date of urea tender

14 July 2014 11:53 Source:ICIS News

LONDON (ICIS)--Indian Potash Ltd (IPL) has extended the closing date of its urea purchase tender to 21 July with validity up to 26 July, market sources said on Monday.

IPL has also extended the shipment period until 7 September, sources said.

The tender was initially due to close on 16 July with shipment by 31 August.

The company has not specified the reason for the extension but there is talk that it is due to a delay in the loading of cargoes in China under the previous STC tender.

STC procured around 300,000 tonnes of urea under a previous tender held on 18 June.

Chinese and Iranian urea are expected to dominate under the tender.

By Rebecca Clarke