Bharat Petroleum Corp Ltd (BPCL) has sold a total of 95,000 tonnes of naphtha for May and July loading, its largest sale in a single tender this year, traders said on Monday.
Premiums garnered range from the high teen levels a tonne to the low $20s a tonne to West Asia quotes on a free-on-board (FOB) basis, lower than some of its most recent spot sales, as this came at a time where sellers expect high volumes of western cargoes to arrive in Asia in May and June.
Chinese trading house Unipec paid in the low $20s a tonne premium for 30,000 tonnes of naphtha for May 26-28 loading from Mumbai.
European trader Trafigura took the 30,000 tonnes from Mumbai for July 1-10 loading from the same port at a premium of about $18 to $19 a tonne.
Japanese trader Marubeni paid about $23-a-tonne premium for 35,000 tonnes for July 1-10 loading from Kochi.
BPCL had previously sold an April spot cargo at a premium of $28 and a cargo out of Kochi for March loading at a premium of $30, Reuters data showed.
BPCL usually exports 30,000 to 35,000 tonnes of naphtha in a single spot tender although it had previously offered a combination of a 35,000-tonne and 20,000-tonne cargoes for late January loading from Kochi.