SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has closed a 15,000-tonne spot sulphur cargoes at $138.5/tonne (€101/tonne) under its sales tender this week, a company source said on Thursday.
The cargo has been sold to an Iran's trading company Landa, which usually supplies cargoes to domestic Chinese traders, according to the source.
The 15,000-tonne cargo is likely to be sailing to China from Taiwan 6-10 January next year, the source added.
Freight rates to Nantong Port, east China, are estimated at around $16/tonne, which reflects a delivered price of $154.5/tonne CFR (cost and freight) China, a market player said.
The tender award is up by $8.5/tonne on its last sale at around $130/tonne FOB (free on borard) under its early December tender.
($1 = €0.73)