Reliance Industries has realized a lower premium on February naphtha because of higher arbitrage volumes expected to arrive in Asia. A naphtha cargo for February lifting was sold by RIL at a premium about ten dollars lower than last month. 75,000 tons of naphtha was sold by tender for Feb. 3-7 lifting from Sikka to a Japanese trader at a premium of US$40-42/ton to Middle East quotes, on a free-on-board (FOB).
Over 1.21 mln tons of Western naphtha has been provisionally booked for arrival in Asia in Q1-10, most of which are expected to land in February. Despite the expected supply increase, naphtha cracks have risen to 20 day highs at US$165.6/ton on robust demand and several other factors that have caused supply concerns in the region- Slight lowering of Indian exports in February, delays in shipment from Kuwait and a 50-day turnaround at Saudi Aramco's Ras Tanura refinery which started in mid-December.
12-Jan-10 
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