In Freight News 25/05/2015
Abu Dhabi National Oil Co (ADNOC) is seeking 240,000 tonnes of gasoline for delivery in July, adding to an earlier tender seeking cargoes for June, a tender document showed. This is expected to further boost Asian gasoline margins, which hit a record high earlier this week on firm Indonesian and Indian spot demand. ADNOC is seeking 8 cargoes of 30,000 tonnes each of 95-octane gasoline for delivery into Jebel Ali and Ruwais and loading from within the Gulf.
The tender closes on May 26 and is valid until May 31. ADNOC earlier this week issued a tender to buy two 30,000-tonne cargoes for June 10-12 and June 22-24 arrival, respectively, at any port in the United Emirates or Ruwais. It is unclear if that tender has been awarded. ADNOC’s July requirements indicate that its 127,000 barrels-per-day (bpd) residual fluid catalytic cracking (RFCC) unit at its expanded Ruwais refinery might still be shut, a Singapore-based trader said.
The refiner lowered its operating rate at the refinery to about 50 percent after the unit encountered start-up problems. Once gasoline production from the RFCC unit is stable, ADNOC will no longer need to import gasoline and the country might even have small volumes to export, sources have said. Details of tender: Cargo size Delivery dates Port 30,000 tonnes July 4-6 *CFR Jebel Ali, Emarat terminal 30,000 tonnes July 18-20 CFR Jebel Ali, Emarat terminal 30,000 tonnes July 12-14 CFR Ruwais 30,000 tonnes July 25-27 CFR Ruwais 30,000 tonnes July 2-4 +FOB, UAE 30,000 tonnes July 10-12 FOB, UAE 30,000 tonnes July 18-20 FOB, UAE 30,000 tonnes July 27-29 FOB, UAE *CFR = cost and freight basis +FOB = free-on-board basis.
