Formosa Petrochem seeking naphtha for H2-February arrival at Mailiao

14-Jan-13

Taiwan's Formosa Petrochemical is seeking naphtha for H2-February arrival at Mailiao after it had bought about 100,000-150,000 tons for H1-February less than 10 days ago, as per Reuters. Asia's top naphtha buyer is seeking the cargoes through a tender which is due to be awarded next Tuesday. The tender also comes right after Japan's Mitsui Chemicals bought a naphtha cargo on Friday for second-half February delivery at premiums below US$20/ton to Japan quotes on a cost-and-freight (C&F) basis. Mitsui Chemicals had bought similar volumes two days ago for the same arrival period at premiums around US$21-22/ton.