SINGAPORE: Iraqi Oil Tankers Company has offered up to 100,000 tonnes of fuel oil for loading in April, industry sources said on Tuesday.
The company has offered 50,000 to 100,000 tonnes of fuel oil to be loaded on four tankers from Baghdad, Shatt Al-Arab, Al-forat and Dijla in April.
The estimated price for the cargoes, which traders said were of the straight-run fuel oil grade, will be around $450 a tonne.
The buyer is required to pay for the first shipment before it is loaded, using the estimated price, the sources said, citing a tender document.
A Singapore-based trader said that the estimated price was expensive as it would be a premium of more than $100 above current prices for the 180-centistoke fuel oil.
Straight-run fuel oil is the first cut of the heavy distillate after crude has been processed in the refining unit.
Buyers also have the option of receiving the cargoes on a delivered basis.
The tender closes on March 22.
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