Arab Today, arab today gulf petrochem wins asian fuel tender
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Gulf Petrochem wins Asian fuel tender

Arab Today, arab today

Arab Today, arab today Gulf Petrochem wins Asian fuel tender

Singapore - Arabstoday

Middle East trader Gulf Petrochem made an unexpected foray into the Asian fuel oil market by winning a semi-term tender for four cargoes, totalling up to 120,000 tonnes, from India, traders said yesterday. The UAE-based trader, which is not a regular participant in Asian fuel oil spot tenders, was awarded the four 380-centistoke (cst) parcels at higher price-levels, reflecting the tightly-supplied market in both the Middle East and East Asia. \"It\'s certainly a surprise that Gulf Petrochem turned out to be the winner of the tender. Even their presence in the Middle East market isn\'t very big, they trade 40,000-50,000 tonnes of mostly bunkers in a month,\" a Middle East-based trader said. \"But, like everyone else, they could be affected by the supply tightness, particularly of on-specification bunkers grade 380-cst due to the lack of exports from Iran.\" Article continues below Purchase The four 30,000-tonne cargoes, for loading from August to November from Vizag, were purchased from Hindustan Petroleum Corp Ltd at discounts of $14.00-$15.00 a tonne to Singapore spot quotes, up from minus $15.00-$16.00 previously. HPCL sold another similar parcel, for August 18-20 lifting from Mumbai, to Chemoil at similar price levels. All five cargoes are expected to be delivered to the Middle East, mainly for the Fujairah marine fuels market, traders said. Fuel oil cargoes loading from the eastern Indian port of Vizag usually flow east to Singapore instead of west to the Middle East, they added. \"The landed cost of the cargoes is higher than just the difference in the price-level, due to higher freight and that shows just how short the Middle East market is of on-spec 380-cst,\" another trader said.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf petrochem wins asian fuel tender Arab Today, arab today gulf petrochem wins asian fuel tender

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf petrochem wins asian fuel tender Arab Today, arab today gulf petrochem wins asian fuel tender

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday