Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Wed 15 Jul 2009, 07:45 GMT

Indian refiner offers 380-cst cargo


Fuel oil parcel is scheduled for loading mid-August.

Refiner and bunker supplier Indian Oil Corporation Ltd. (IOC) is offering a cargo of 380-centistoke (cst) for loading next month, Reuters reports.

The state-owned firm is said to have offered a 35,000-tonne parcel of 380-cst fuel oil, scheduled for lifting from the southeastern port of Chennai on August 13-16.

The tender is scheduled to close on July 21st.

IOC is reported to have previously sold a 30,000-tonne cargo of fuel oil for loading on July 13-17 from Chennai at a $5.50 per tonne disount to the IOC formula, on a free-on-board (FOB) basis.

The discount was slightly down on an earlier fuel oil cargo deal with oil major BP, which was due for lifting on June 26-29 and sold at a disount of around $6-$7 per tonne to the IOC formula, on a free-on-board (FOB) basis.

In May, IOC sold a 30,000-tonne parcel to BB Energy at a discount of $6 a tonne to the IOC formula, FOB.

Indian refineries resumed exports of fuel oil in May - in line with the start of the monsoon season, which is between May and July. During this period there is a large fall in electricity usage from utilities and factories.

Refineries had halted fuel oil exports in late March when production of bitumen was raised to meet rising demand from domestic infrastructure projects.

Prior to this, IOC had sold two 30,000-tonne 380-cst cargoes for loading in March to BP and Trafigura at discounts of between $10.00 and $10.50 per tonne to the IOC formula, on a free-on-board (FOB) basis.

BP   India  Chennai (IN) 
World Fuel logo. World Fuel seeks marine lube operations and sales executive in Greece  

US firm is recruiting for a commercial role focused on marine lubricants, based out of its Glyfada office.
ECSA Parliamentary Breakfast event. European shipowners call for fuel supplier mandates and ETS revenue investment ahead of policy revision  

Industry body urges EU policymakers to redirect carbon revenues into clean marine fuel production.
Coral Energy vessel at Klaipeda LNG terminal. Gasum secures LNG terminal capacity at Klaipėda through 2040  

Nordic energy company locks in long-term LNG supply access to serve northwestern European markets.
Torm Corrido vessel. Chimbusco Pan Nation extends B100 biodiesel bunkering to oil tankers as quarterly volumes triple  

Hong Kong bunker supplier CPN says Q2 B100 deliveries have exceeded Q1 totals by more than 300%.
TMD Energy Limited logo. TMD Energy extends bioenergy MOA with Double Corporate by two years  

Malaysian bunkering firm seeks to advance waste-to-energy marine fuel collaboration in EU and Asian markets.
Antwerpen vessel. Exmar takes delivery of world’s first dual-fuel ammonia oceangoing vessel  

Belgian shipowner Exmar has taken delivery of what it says is the first oceangoing vessel powered by a dual-fuel ammonia engine.
Seaglider vessel render. MOL and JAL partner with Lloyd’s Register and REGENT to advance Seaglider certification in Japan  

Four organisations join forces to establish regulatory pathways for electric wing-in-ground craft ahead of a targeted 2030 commercial launch.
Geoff Wagner and Byung-Hun Kwon. ABS and HD Hyundai entities secure battery hybrid approval for 16,000-teu container vessel  

Approval in principle issued for electrical design of ultra-large container ship at Posidonia.
Steel cutting ceremony of vessel with builder's hull no. H1955A. Keel laid for world’s largest LNG carrier at China’s Hudong-Zhonghua shipyard  

Construction begins on a 271,000-cbm QC-Max vessel, the largest LNG carrier ever built.
Mercedes Pinto vessel truck-to-ship (TTS) bunkering. Port of Las Palmas completes first LNG bunkering operation  

Baleària Canarias’ new fast ferry receives LNG via tanker truck in milestone delivery.

↑  Back to Top


 Recommended