After selling 80,000 tons of October lifting naphtha to BP at a higher single digit premium, India's Reliance Industries Ltd. (RIL) sold and additional 80,000 tons to Koch for October lifting from Sikka at a US$5/ton discount relative to Middle Eastern quotes on FOB basis. The overcapacity in Asian naphtha market has resulted into traders expecting a turnaround of the West-East arbitrage. According to a trader, Koch is likely to ship the parcel to the US owing to sluggish situation in Asia.
30-Sep-08 
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