SINGAPORE: Oil trading house Gunvor has bought a diesel cargo from India’s Mangalore Refinery and Petrochemicals Ltd in a rare move, traders said on Thursday.
The Swiss based company bought 65,000 tonnes of 500 ppm sulphur gasoil for March 1 to 3 loading from MRPL at a premium of $1.10 to $1.15 a barrel to Middle East quotes, traders said.
While Gunvor has bought naphtha cargoes from MRPL, it has rarely bought gas oil from the Indian refiner.
Gunvor normally buys gas oil from Russia and ships it to countries in Asia such as Vietnam, traders said.
It is unclear where Gunvor was planning to ship the Indian gasoil cargo to.