Indian company sells 30,000 tons May cargo of naphtha at ten dollar premium

11-Apr-08
India's Mangalore Refinery and Petrochemicals Ltd has sold 30,000 tons of naphtha for H1-May loading at a premium of over ten dollars. The cargo, to be loaded in first week May was sold to Glencore and is being delivered in a LR2-type vessel, which can carry 75,000-100,000 tons of naphtha. Larger ships can carry supplies for several buyers at one time, leading to lower shipping cost, which raises the premium for the naphtha cargo.
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