Haldia seeks to finalise 2020 benzene sales: Correction

Corrects 2019 contract price in third paragraph

India's private-sector producer Haldia Petrochemicals (HPL) has issued a tender to sell 130,000t of benzene for 2020.

This makes HPL, which operates facilities in Kolkata on India's east coast, the first petrochemicals producer seeking to finalise term contracts for the coming year.

The tender was issued on 24 October and bids must be submitted by 1 November. The tender results will be finalised around the end of next month. Bids are to be placed against fob South Korea price assessments. This year's contract was settled at a discount in the high-$20s/t to fob South Korea prices for shipment from Kolkata to a Thailand-based trading firm.

East coast India-origin benzene is usually sold to Asia-Pacific buyers as the route is more favourable for shipments to this region, while west coast India-origin benzene is typically sold to the US, Europe and the Middle East.