Tue 26 Aug 2008, 10:42 GMT

MRPL sells 80,000mt fuel oil cargo


380-cst parcel is sold by Indian refiner at a premium for the first time.



India's Mangalore Refinery Petrochemicals (MRPL) has successfully completed the sale of an 80,000-tonne cargo of 380-centistoke (cst), Reuters reports.

The fuel oil cargo has reportedly been awarded to oil trading company B.B. Energy at a premium of approximately $1 a tonne to Singapore spot quotes. This is the first time the Indian refiner has obtained a premium, rather than a discount, on the sale of a spot fuel oil cargo.

The 380-cst parcel is scheduled for loading in September, according to market sources.

Last month, MRPL sold an 80,000-tonne parcel of fuel oil to Switzerland-based Glencore International AG, one of the world's largest suppliers of commodities and raw materials. The parcel, which was scheduled for loading between August 22nd and 24th from New Mangalore, was sold at a discount of $16 to Singapore spot quotes according to market sources.

The refiner also sold a similar-sized cargo for loading from its Mumbai terminal on August 8th to 10th at a disount of US$25 FOB basis.

MRPL is located at Katipalla, north of Mangalore city. It is a state-of-the-art grassroots refinery at Mangalore with a production capacity of 190,000 barrels per day (bpd).

The company is a subsidiary of Indian petroleum firm Oil and Natural Gas Corporation Ltd. (ONGC).


Adrian Tolson, IBIA. IBIA warns of structural shift in marine fuel market following Arabian Gulf tensions  

Association chair says geopolitical disruptions signal lasting changes to bunker supply dynamics and pricing.

HMM Hamburg vessel. Rotterdam bunker volumes plunge 25% in first quarter amid regulatory shifts  

Fossil fuel sales decline sharply while alternative fuels show modest growth in Dutch port.

Camellia Dream vessel. Norsepower completes factory tests for 18 rotor sails bound for Airbus fleet  

Wind propulsion units cleared for installation on LD Armateurs vessels targeting 50% emissions reduction.

Frankie Russ vessel. Ernst Russ acquires four chemical tankers with five-year charters worth $126m  

Hamburg shipowner enters tanker segment with methanol-ready newbuildings delivering from Q4 2026.

Ammonia fuel system component. Wärtsilä boosts ammonia engine power output to match LNG equivalent  

Finnish technology group raises Wärtsilä 25 Ammonia engine output, enabling simpler vessel designs.

Aerial view of a cruiseship at sea. Fincantieri secures order for three LNG-fuelled cruise ships from Princess Cruises  

Italian shipbuilder to construct vessels at Monfalcone yard, with deliveries scheduled through 2039.

Ubuntu Humanity alongside Fuelng Bellina vessel. DNV says existing LNG infrastructure can support low-GHG methane transition  

Classification society finds biomethane and e-methane compatible with current LNG fleet and bunkering networks.

IBIA bunker buyers working group graphic. IBIA launches Bunker Buyers Working Group for fuel procurement end users  

New forum aims to represent shipowners, charterers and ship managers in policy and regulatory discussions.

Carbon registry process diagram. MOL and Shell launch book-and-claim scheme for marine biofuel emissions credits  

Japanese shipping firm partners with Shell to offer environmental attribute certificates from third-party vessel operations.

Renewable Energy Directive (RED III) policy brief cover. Bureau Veritas releases report on EU Renewable Energy Directive’s impact on shipping  

Classification society examines RED III compliance challenges as member states transpose the directive into national law.