Reliance offers 55KT for late March

Singapore, Feb 8: India's Reliance Industries Ltd. has issued a tender to sell a 55,000-tonne cargo of naphtha for late March loading, traders said on Thursday.

The tender will close on February 9, with the validity remaining throughout the day.

Reliance in January sold a similar parcel for Feb. 14-16 loading at a high premium of between and a tonne to Middle East spot quotes, on a free-on-board (FOB) basis, helped by the recent bullish Asian naphtha market due to supply shortage amid strong demand.

Reuters>