Taiwan’s FPCC starts January 2024 spot gasoil sale discussions – sources

Taiwan’s Formosa Petrochemical Corp (FPCC) 6505.TW has kick-started spot sales activities for gasoil loading in January next year, three sources familiar with the matter said on Tuesday.
The sources declined to be named as they are not authorised to speak with media.

The refiner is offering at least one 300,000-barrel cargo of 500 ppm sulphur gasoil and one 750,000-barrel cargo of 10 ppm sulphur gasoil. Both cargoes have a loading time of Jan. 7 – 11.

Bids for the tenders would have to be submitted by Dec. 6, with same-day validity.

This is the first time in half a year that the refiner is selling 500 ppm sulphur gasoil spot lots. FPCC previously offered June-loading 500 ppm sulphur gasoil spot cargoes in early May, Reuters records showed.

Separately, December-loading 10 ppm sulphur gasoil cargoes were earlier sold at discounts between 30 cents and 40 cents a barrel.
Source: Reuters (Reporting by Trixie Yap; Editing by Nivedita Bhattacharjee)