Indian fertilizer importer GSFC has awarded its 13 June tender to buy DAP to trading firm Aries.
The initial tender requested 115 000 t, but GSFC has purchased 125 000 t in the mid-US$430/short t cfr including 90 days' credit. The price equates to around US$430-432/t cfr (cash).
The first 50 000 t has been loaded on the Mary Lina and will be discharged on India's east coast. The second cargo, consisting of 75 000 t of brown and white DAP, will be shipped to the west coast by early August.
GSFC has also purchased another 50 000 t from a trader, market participants said, but this has not been confirmed by both the parties.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/10072018/indias-gsfc-has-awarded-a-tender-to-buy-dap/