Essar Oil has sold a naphtha cargo to Shell at about US$32/ton above Middle East quotes on a free-on-board (FOB) basis, with premiums holding steady with two previous deals, as per Reuters. The 35,000 ton cargo is scheduled for Nov. 3-5 loading from Vadinar. Outages at petrochemical units in Japan, and cracker run cuts in Taiwan, failed to weigh on sentiment. Premiums for Indian cargoes were persisting near levels of US$30/ton because supplies were still scarce despite India having restored exports for October to more than 800,000 tons from fewer than 550,000 tons last month.
12-Oct-12 
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