YNCC bought a naphtha cargo for second-half May delivery to Yeosu at a discount of $1 a tonne to Japan quotes on a cost-and-freight (C&F) basis.
Ample supplies remained a concern and kept prices for the May cargo at a discount, traders said.
On term talks, Abu Dhabi National Oil Company (ADNOC) has offered splitter naphtha at a premium of $12 a tonne, pentane naphtha at a premium of $15 a tonne and two low sulphur naphtha grades at $12 and $13 premiums, traders said.
All premiums are pegged to Middle East quotes on a free-on-board (FOB) basis and all shipments are from July 2016 to June 2017.
The offers could not be directly confirmed as buyers and the seller do not comment on their ongoing negotiations.
Buyers have until April 26 to decide if they are accepting the offers.
The offers, however, come at a time when heavy supplies, caused by high volumes of European cargoes arriving in Asia in the first quarter, are weighing on prices, the traders said, adding that a premium below $10 a tonne would be more reasonable for grades such as splitter naphtha.
GASOLINE GAINS
Asia's gasoline ended the week at a six-session high of $7.61 a barrel but supplies remained ample.
Traders were waiting for peak demand season, which is expected to take place between May and July, to soak up the barrels, some of which are stored on tankers.
Gasoline stocks were high in both the west and Asia.
Gasoline inventories held in the Amsterdam-Rotterdam-Antwerp (ARA) hub, for instance, were at nearly 1.2 million tonnes in the week to April 21, 33 percent higher than a year ago.
This mirrored the high stocks in Singapore where onshore light distillates stocks had edged up 1.4 percent, or 197,000 barrels, to reach a three-week high of 14.7 million barrels in the week to April 20, official data showed.
SINGAPORE CASH DEALS:
Four deals.
Unipec sold a 95-octane grade gasoline for May 18-22 to Vitol at $56.10 a barrel, and bought a 92-octane grade gasoline cargo for May 12-16 from Hin Leong at $52.60 a barrel.
Total sold to Phillips 66 a 92-octane grade gasoline cargo for May 12-16 loading at $52.51 a barrel.
Shell sold to Itochu a naphtha cargo for first-half June delivery at $408 a tonne.