India's August naphtha exports are seen around 730,000 tons, , down 6.4% from July's volumes which were at their highest this year, as per Reuters data. But the expected marginal fall in supplies can be easily filled by the unusual spot offers for August loading totalling around 80,000 tons from Russia, Indonesia and United Arab Emirates (UAE) as these companies do not usually offer naphtha in the spot market. The average spot premiums for Indian cargoes scheduled for August loading are therefore unlikely to rise despite the decrease in its exports. India has so far sold nearly 400,000 tons of naphtha for August loading, with the average premium seen at US$26/ton, down slightly from July's average premium of US$27/ton.
MRPL usually sells an average of three cargoes a month, with some months even seeing four cargoes, each at 35,000 tons. However, an expected strong influx of naphtha from Europe will more than balance a small drop in the Indian exports will not affect Asia that much. Eastbound cargoes -- from regions such as Europe, the Mediterranean and occasionally the United States – are approximately 1 mln tons per month on the average for naphtha.
29-Jul-13 
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