Formosa Sells June-Loading Fuel-Oil Cargo at $65 to $75 Premium

Formosa Petrochemical Corp. (6505) sold a 12,000-metric-ton cargo of low-sulfur fuel oil for June loading at a premium of $65 to $75 a ton over Singapore prices, according to three traders with knowledge of the transaction.

Formosa Petrochemical is Taiwan’s only publicly traded oil refiner. Details of the transaction are as follow:

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Quantity:  12,000 tons
Price:     $65 to $75 a ton premium over Singapore prices
Sulfur:    Maximum 2,000 ppm
Loading:   June 25 to June 27
Port:      Mailiao, Taiwan
Buyer:     Unknown
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To contact the reporter on this story: Winnie Zhu in singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net