IOC sells 80,000 tons in three cargoes at premiums around US$20

01-Aug-11

Indian Oil Corp (IOC) has sold a total of 80,000 tons of naphtha in three cargoes at premiums of around US$20/ton. Cargoes from Dahej and Kandla fetched sharply higher premiums. IOC sold 35,000 tons for Aug. 14-16 loading from Dahej to Unipec at premiums of US$20-21/ton to the refiner's price formula on a free-on-board (FOB) basis. Another 30,000 tons for Aug. 18-20 loading from Kandla was sold at premiums of US$19/ton to the same formula, but the buyer's identity could not be immediately confirmed.