off-the-wire

South Korea's GS Caltex offers more May-loading gasoil -sources

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, April 13 (Reuters) - South Korean refiner GS Caltex is offering more May-loading gasoil cargoes in the spot market, four industry sources said on Thursday, after selling at least two lots a week earlier.


Three cargoes of 10 ppm sulphur gasoil, one cargo of 50 ppm sulphur gasoil and two cargoes of 500 sulphur gasoil were available via the tender which closes on April 14 with same-day validity, they added.


These spot lots are all for loading between May 22 and May 30.


GS Caltex also offered at least three cargoes of jet fuel in a tender which closed on April 12, after selling at least two 500 ppm sulphur gasoil cargoes on April 6, signalling that scheduled maintenance work at its Yeosu refinery could be ending soon.


One of the four sources added that the current gasoil market price structure could also be forcing refiners to clear out their May inventories given the better netbacks, with June swap prices lower than May.


GS Caltex typically does not comment on the details of its sales tenders.
(Reporting by Trixie Yap; editing by Jason Neely)

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