India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has sold 55,000 tons of naphtha for March 10-12 loading from New Mangalore port at about US$28/ton above Middle East quotes on a free-on-board (FOB), as per traders in Reuters. This is the highest premium MRPL has received for its naphtha cargo since July 2014 of an average of US$34/ton premium. MRPL had cancelled an early March cargo but sold a February cargo at a premium of only US$6.50/ton previously.
Squeezed supplies and unexceptionally strong spot demand from North Asia ahead of refinery maintenance and delays shipments from Europe and a lack of U.S. cargoes have prompted prices to spike in recent weeks.
13-Feb-15 
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