South Korea’s Lotte Chemical buys H2 February naphtha supply

14 January 2014 07:57 Source:ICIS News

SINGAPORE (ICIS)--South Korea’s Lotte Chemical has purchased by tender naphtha supplies for delivery in the second half of February, traders said on Tuesday.

The company bought two cargoes for delivery to Yeosu and one cargo for Daesan delivery – all of which were done at around a premium of $16/tonne to CFR (cost & freight) Japan quotes.

Each cargo contains 25,000 tonnes of naphtha.

Previously, Lotte bought a total of 125,000 tonnes of spot naphtha supplies for delivery in the first half of February - a 25,000-tonne naphtha cargo for delivery to Yeosu at a premium of $14/tonne (€10/tonne) to Japan quotes CFR, and four 25,000-tonne naphtha cargoes for delivery to Daesan at a premium of around $15/tonne to Japan quotes CFR.

By Felicia Loo