Mitsui losses in the Naptha spot market...Link.. | IOC Message Board Posts


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Msg  4401 of 13357  at  3/11/2010 3:02:49 PM  by

jft310


Mitsui losses in the Naptha spot market...Link..

Mitsui is buying Naptha on the spot market and is getting killed."

Specifically, they spent over $500,000,000 in the last 12 months purchasing naptha on the spot market. Thats half a BILLION $$$ folks. One year's worth of Mitsui naptha pays for the entire stripping plant. That's a pretty quick payoff on their investment.

Date Vol KT Delivery date Price per tonne above Japan spot quotes on a cost-and-freight (C&F) basis
Mar 4, 2010.....50......H1 Apr..+$17-$17.50
Feb 23, 2010....25......H2 Mar..+$8.00
Feb 9, 2010.....25......H2 Apr..+$11.50
Feb 9, 2010.....25......H1 May..+$8.00
Feb 3, 2010.....25......H1 Apr..706/t
Jan 28, 2010....25......H1 Mar..+$7.50
Jan 19, 2010....25......H2 Feb..+$20-$21
Jan 6, 2010.....50......H2 Feb..+$9.00 (45 days counting)
Dec 21, 2009....75......H1 Feb..+$16-$18 (45 days counting)
Dec 11, 2009....25......H2 Jan..+$17.00
Dec 3, 2009.....25......H2 Jan..+$15-16
Nov 19, 2009....25......H1 Jan..+$4-$5 (45-day price formula)
Nov 19, 2009....25......H1 Jan..+$5.50 (45-day price formula)
Nov 13, 2009....50......H2 Dec..+$7
Oct 16, 2009....25......H2 Nov..-$6.00
Aug 21, 2009....25......H1 Oct..+$4.00-$5.00
Aug 12, 2009....25......H2 Sept.+$3.75
July 24, 2009...25......H2 Sept.steeper than -$3.00
July 6, 2009....50......H2 Aug..+$8.00 (45-day price formula)
June 11, 2009...25......H2 Jul..+$1.00
April 15, 2009..25......H2 May..nearly +$5.00
April 3, 2009...25......H2 May..+$15.00-$16.00
March 30, 2009..25......H1 May..+$11.00-$12.00
March 25, 2009..25......H1 May..+$9.00-$10.00

750,000 tonnes x $747 per tonne (plus premium) = $560M+

JAPAN OPEN-SPEC NAPHTHA : Prices for front month second-half April $747.00 a tonne
http://www1.hymarkets.com/html/news/2010...


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