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Qatar sells about 200,000T for Nov

Tasweeq had offered two spot cargoes for sale in its tender.

October 22, 2010 8:57 by

Qatar’s Tasweeq sold about 200,000 tonnes of naphtha for November loading to several buyers including Vitol and Itochu, at $15.00-$16.00 a tonne above Middle East quotes on a free-on-board (FOB) basis, traders said on Friday.

The volumes are more than what Tasweeq offered in its tender, but the prices are in line with other Gulf spot premiums as the market is supported by tightening supplies, they added.

Tasweeq had offered two spot cargoes for sale in its tender, a 30,000-50,000-tonne full-range grade for Nov. 1-19 loading from Ras Laffan, and another 30,000-50,000-tonne plant condensates, or light grade, for Nov. 15-21 from the same port.

Qatar has sold at least 100,000 tonnes for October loading, of which one 55,000-tonne cargo was sold to China’s aromatics maker Fujia Dahua.

Naphtha sentiment has been holding up due to tightening supplies, as India is expected to lower spot exports.

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