India's FACT awards latest ammonia purchase tender to trader CIFC

Source: ICIS News


LONDON (ICIS)--India's Fertilizers and Chemicals Travancore (FACT) on Thursday awarded its latest ammonia purchase tender to CIFC at $350/tonne CFR (cost and freight) – down $15/tonne from its previous tender award.

CIFC has yet to disclose where it will source the 7,500 tonne (+/-5%) cargo for delivery to the west coast port of Kochi (Cochin) between 11 and 15 January, although it will likely originate in Iran or Indonesia.

FACT also received offers from Trammo and Muntajat at $355/tonne CFR and $360/tonne CFR, respectively.

None of the offers are understood to have included credit.

Last week, FACT awarded Trammo at $365/tonne CFR under a 21 November tender for a similar-sized delivery of the nitrogen fertilizer for late 2018/early 2019 arrival.