Formosa Said to Sell Fuel Oil for Late September to Total

Formosa Petrochemical Corp. sold 45,000 metric tons of fuel oil for Sept. 28 to Sept. 30 loading to Total SA, according to three people with knowledge of the transaction.

Taiwan’s only publicly traded oil refiner sold 35,000 metric tons of high-sulfur fuel oil at a discount of $50 a ton to Singapore 180-centistoke prices and 10,000 tons of pyrolysis fuel oil at $60 to $65 a ton premium, according to the people.

The high-sulfur cargo’s discount is the same as a similar shipment Formosa sold for Sept. 4 to Sept. 6 loading, according to data compiled by Bloomberg. The pyrolysis fuel oil cargo sold at a lower premium than an early September supply that moved at $80 to $85 a ton because of its higher density, said one of the people.

Details of the transaction are as follows:

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Product:   High-Sulfur fuel oil
Prices:    $50 a ton discount to Singapore prices
Quantity:  35,000 tons
Sulfur:    Maximum 2 percent
Density:   Maximum 1.10 kilogram per cubic meter
Viscosity: 380 centistoke
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Product:   Pyrolysis fuel oil
Prices:    $60 to $65 a ton premium to Singapore prices
Quantity:  10,000 tons
sulfur:    Maximum 0.2 percent
Density:   Maximum 1.07 kilogram per cubic meter
Viscosity: 3 centistoke to 50 centistoke
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Loading:   Sept. 28 to Sept. 30
Port:      Mailiao, Taiwan
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