NEWS

Products: Apr 9-13: Deals for 2H May naphtha continue in Northeast Asia

16 April, 2018


GASOLINE
Some spot demand was seen from Indonesia. State-owned Pertamina closed a buy tender for 200,000bbl of 92RON gasoline to be delivered during May 28-30. The company also closed a buy tender for 200,000bbl of 88RON to be delivered during May 23-25 and 200,000bbl of 88RON to be delivered during May 25-27.

NAPHTHA
End-users in Northeast Asia procured naphtha to be delivered in the second half of May. LG Chem in South Korea bought naphtha to be delivered in the second half of May at a premium of $12.50/mt to Japan quotations, while Hanwha Total bought naphtha to be delivered in the same period at a premium of $15.00/mt to the same quotations. Formosa Petrochemicals in Taiwan was said to have bought open-spec naphtha to be delivered in the second half of May at a premium of low $10’s/mt to Japan quotations. An end-user in Japan bought naphtha to be delivered in the second half of May at a premium of high single digit.

MIDDLE DISTILLATES
The differentials for MR-size cargoes of 0.001% sulfur gasoil on an FOB Northeast Asia fell back on ample supply. Some deals of 0.001% sulfur gasoil loading from South Korea and Japan were reported. An MR-size cargo of 0.001% sulfur gasoil loading in the second half of May from South Korea was reportedly traded at a discount of 20cts/bbl to Singapore quotations on an FOB basis. A refiner in South Korea was also making moves to sell a spot cargo loading at the end of May. A bid for the cargo was heard at a discount of 50cts/bbl to the quotations, buyers seemed to be hard to bid up to a discount of 40cts/bbl. For a cargo loading from Japan, a deal had been reportedly done at a discount of 30cts/bbl to the quotations on an FOB basis.

FUEL OIL
Premiums for LSWR cargoes loading in Indonesia were in the range of $32.00-34.00/mt to Singapore quotations (180cst), down $2.00/mt from last Friday on declining demand in Northeast Asia. Spot cargoes of LSWR to be loaded from Indonesia seemed to have been traded. Although details were unknown, some pointed out that the price could have been at a premium of slightly lower than $34.00/mt to Singapore quotations (180cst) on an FOB basis.

 

Contributed by:
https://eng.rim-intelligence.co.jp/index/top

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