India's MRPL sells late February cargo at higher premiums

28-Jan-14

India's Mangalore Refinery & Petrochemical Corp (MRPL) has sold a naphtha cargo for Feb. 26-28 loading from New Mangalore to Japan's Marubeni at premium of around US$36.50/ton above Middle East quotes on a free-on-board (FOB) basis, as per Reuters. Premium for the 35,000 ton cargo was higher compared with the US$35/ton MRPL got in a recent sale to Unipec for a cargo loading on Feb. 16-18. Despite an expected influx of large volumes of naphtha scheduled in February from Europe and the Mediterranean, traders said supplies ahead were still expected to be relatively tight.