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Tue 6 Oct 2009 09:29

Bharat offers spot 380-cst cargo


Rare spot cargo of fuel oil up for sale following tank space issue at Mumbai.

India's Bharat Petroleum Corp Ltd is offering its first spot cargo of fuel oil in about a year, according to news agency Reuters.

The oil firm is reported to have opened a tender for the sale of 30,000 tonnes of 380-centistoke (cst) fuel oil for loading on October 12-18 from Mumbai.

The cargo is understood to have become available because the company's storage tank capacity in Mumbai is currently full and space is required to store 180-cst for domestic use.

Bharat Petroleum previously sold a 380-cst spot cargo in October 2008 when oil major BP purchased 40,000 tonnes of the product for mid-October lifting.

Bharat has been supplying the majority of its term cargoes to its joint venture partner Matrix-Bharat Marine Services, which sells marine fuel at the world's leading bunker port, Singapore.

The Mumbai tender closed on Monday with bids remaining valid until Tuesday.

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