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Naphtha shipments from west to Asia to rise in May
4/26/2021 12:00:00 AM

Naphtha shipments from west to Asia are expected to rebound to more than 2 million tonnes in May after dipping below average levels this month, trade sources said on Friday.

Naphtha prices in Asia were subdued due to the anticipated increase in supplies and lower demand in the second quarter due to cracker maintenance.
“May arbitrage is relatively bigger and there is some cracker maintenance,” one of the sources said, adding that refineries in Asia have also increased their naphtha output as their margins for the petrochemical raw material were strong.
“There’s less demand and supply has slightly improved, that’s why the market came off,” the source said.
He estimated that about 2.35 million tonnes of naphtha are expected to arrive in May while the latest assessment from Refinitiv Oil Research puts the volume at about 2 million tonnes.
The volume of naphtha expected to arrive in April are estimated at about 1.5 million to 1.8 million tonnes, according to the sources and Refinitiv, as the arbitrage window narrowed while a couple of cargoes had been delayed by the Suez canal blockage.
Source: Hellenic Shipping