Asia is likely to see a lower pool of naphtha imports from Europe, as freight costs increase and premiums get stronger, restricting fresh bookings, as per ICIS. The arbitrage window was effectively cllosed, as the economics of the East-West spread had narrowed to US$17-18/ton from around US$22/ton.
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Monday, January 18, 2010
Lower naphtha imports from Europe likely to Asia on rising freight, stronger premiums on fresh bookings
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