Aramco secures fob price increases for India,China and Brazil

摘要

MARKET SUMMARY:The near-term spot market was proving difficult for Middle East sulphur traders squeezed between firm fob levels,rising freights and uncertain spot demand in China,SE Asia and India.In China,where Kazakh tonnes were again arriving on a regular basis,new offers of trader tonnage at break-even prices were being shown little interest.In India the availability of floating Oswal tonnes continued to compromise the market.As a result spot prices in the Middle East were coming under renewed downward pressure.Until Chinese port inventories start to come down,the AG spot market was expected to remain soft.Freights for AG-South China were currently being quoted at low-US20's pt and north-China in the mid-US20's pt.Panamax spot quotes for Vancouver-China were in the mid-US20's pt.This week KPC/Kuwait sold a spot cargo in the low-US80's pt fob Shuaiba for end-October lifting,but observers were predicting that new spot cargoes on offer in Saudi and Iran would attract offers mainly in the mid-high US70's pt fob.