Sign up
Log in Sign up
Thu 22 Jan 2009, 09:28 GMT

Indian firm sells 380-cst fuel oil cargoes


Two 30,000-tonne parcels are sold via tender for delivery in February.

State-owned Indian Oil Corporation (IOC) has sold two 30,000 metric tonne cargoes of fuel oil via tender for delivery during the month of February, Reuters reports.

The two parcels of 380-centistoke (cst) fuel oil with 4.5 percent sulphur are scheduled for loading from Chennai on February 4-7 and February 19-22.

The cargoes are reported to have been sold to oil major BP at a discount of $12 per tonne to the IOC formula, according to trading sources. The price represents a lower discount compared to other recent 380-cst tenders.

In previous deals IOC sold two 30,000-tonne parcels of 380-cst fuel oil for loading in January at between $16.50 and $17.50 per tonne to the IOC formula. Emirates National Oil Co (ENOC) was reported to be the purchaser of the cargo.

In November 2008, the discount was said to be around $20 per tonne to Middle East spot quotes when IOC sold a 30,000 metric tonne cargo of 380-cst fuel oil to Trafigura, one of the world's largest independent commodity trading companies.

IOC operates refineries in Assam, Gujarat, West Bengal, Uttar Pradesh, Madras and Bihar and is the leading provider of fuel oil for the bunker market, supplying both marine fuel and lubricants to customers in all major Indian ports.

The company sold 58.3 million tonnes of petroleum products during 2007-08, registering a 8.7% growth in volumes as compared to the previous year.

BP   India  Chennai (IN) 
Suezmax crude oil tanker render. Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule  

China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.
Clean ammonia project pipeline chart as of March 2026. Renewable ammonia pipeline grows despite Norway project freeze  

GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.
Antwerpen and Arlon naming ceremony. Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea  

Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.
Fujian province map with highlighted locations. Gulf Marine expands bonded lubricant supply network in China’s Fujian province  

Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.
Excelerate Acadia naming ceremony. Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia  

Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.
Osprey Energy logo. Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands  

Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.
EUA prices dropping graphic. KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs  

Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.
RINA employee in control room. RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries  

Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.
Amadeus Titanium vessel. HGK Shipping’s Amadeus Titanium fitted with wind assistance system  

Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.
Sebastian Weder, Bunker One. Bunker One expands physical supply operations to Tallinn and Finland  

Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended