Indian fertilizer importer GSFC has awarded its 13 June tender to buy DAP to trading firm Aries, according to Argus Media.
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/