A Chinese trader informed to SSESSMENTS.COM about some of their cargoes which inside the Shahraz, Iranian ship that crashes near Sambu Island, off Batam, Indonesia, as of 0820 UTC May 12 after colliding with an Indonesian bulk carrier Samudera Sakti I while proceeding in the same direction. The collision happened when Shahraz was en route to Yangshan China from Malaysia’s Port Klang, while Samudera Sakti I was heading to Bayah, Southwest Java from Belawan. Luckily, the volume was not too big as some of their cargoes are on another vessel. The trader is not sure whether all of the Shahraz cargoes are plastic resins, and still awaiting responses from the shipping company.
Speaking of offers, the trader received import offers for Thailand’s mLLDPE C6 at $920/ton on LC at sight, CIF China main port basis, increased by $20/ton from yesterday level, May 12, and lower by $85/ton than Monday, May 11 level. Although the price drop was appealing, the trader revealed to SSESSMENTS.COM as they only have few mLLDPE C6 customers, no one shows interests after they announce the new offers. The trader also offered import Saudi HDPE Blow Moulding cargoes at $810/ton LC at sight, CIF China main port basis, which also received a lukewarm response from buyers, no deals concluded at the time of publication. For localized PE offers, the current levels are stable from Tuesday. The trader also disclosed that upward movement in the futures market by Wednesday trading session does not stimulate the buying sentiment.
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