Taiwan's CPC Corp is looking to sell 35,000 tonnes of straight-run low sulphur fuel oil (LSFO) in its fourth tender of the grade, Reuters reports.
A document on the firm's website showed the cargo is to load from the port of Kaohsiung in the second-half of November. The tender closes on Nov. 1, with bids to remain valid until Nov. 2.
The straight-run LSFO was meant to be used as feedstock for the company's new 80,000 barrels-per-day (bpd) gasoline-making unit at its Talin facility, whose start-up has been repeatedly delayed since the first quarter.
CPC has so far sold close to 300,000 tonnes of straight-run LSFO through three tenders and private sales due to the delay.
It last sold two 35,000-tonne October-loading cargoes at premiums of $85.00-$90.00 a tonne above Singapore spot quotes to Mercuria and Trafigura, traders said.
Traders expect the new residual fluid catalytic cracker (RFCC) to start initial operations soon.
A source familiar with the matter said testing of the unit would likely begin in the next few days.
All news