IndianOil sells fuel oil cargoes
New Delhi   09-Nov-2010

IndianOil sold three 180 centistoke (cst) fuel oil cargoes totalling 65,000 tonne for November loading after an absence of more than six months, traders said on Monday. Two cargoes, one for November 16-18 and another for November 22-24 lifting from Haldia, were sold to Mitsui at a discount of $12.00-$18.00 a tonne to Singapore spot quotes on a free-on-board (FOB) basis. The third cargo for November 22-25 loading from Chennai was sold to Glencore at a discount of $8.50 a tonne to Singapore spot quotes, FOB. IOC last sold 15,000 tonne of 180 cst fuel oil for February loading from Haldia to Shell. But prices were not disclosed. Asia's fuel oil supplies have been tightening due to lower imports from Western countries in November, which were estimated at 3.1-3.2 million tonne, the lowest in six months.