OMPL offers term PX for 2020

Singapore, 5 November (Argus) ? Indian state-controlled petrochemical producer OMPL has issued a term tender to sell from New Mangalore 570,000t of paraxylene (PX), or 50,000t each month next year except for 20,000t in April. Bids should be submitted by 13 November with validity to the next day.

OMPL's aromatics complex in Karnataka state has a design capacity to produce up to 920,000 t/yr of PX and 283,000 t/yr of benzene.

The company last year agreed to sell 370,000t of PX for April-December 2019 loading at discounts at a mid-$30/t to cfr Taiwan/China assessments.D

The freight cost from India to China for 10,000t of PX is about $36/t, which normally takes around 21 days to be delivered.

Premiums for December-arrival spot cargoes are being discussed at around $4-6/t to December cfr China/Taiwan assessments, while January discussions have yet to start.

source: Argus Media