India’s MRPL sells 35,000 tons naphtha to Marubeni at a record high of US$50-51/ton

19-Nov-12

India’s Mangalore Refinery & Petrochemicals (MRPL) has sold 35,000 tons naphtha for Dec. 11-13 loading from New Mangalore to Marubeni at a record high of US$50-$51/ton above Middle East quotes on a free-on-board (FOB) basis, as per Reuters. Tight prompt naphtha supplies and strong demand have benefited sellers for most of this year. MRPL, however, failed to sell two cargoes last Friday for January and February 2013, and the state-owned refiner has now issued a new tender offering another three cargoes totalling 105,000 tonnes for December 2012 to February 2013 loading.