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Indian refiners to issue second tender to secure four more US LPG cargoes
Indian State-run refiners will issue a second tender in a few months to secure four more cargoes of LPG on a short-term basis from the US. Purchases will be on free on-board terms, enabling Indian refiners to deploy their own charters for long distance LPG transportation for the first time to cut costs, according to two top refining sources.
Indian refiners will also issue some spot tenders for purchase of US LPG for deliveries early next year, the sources said. Details are not yet available.
Spot purchases of the fuel from the US have already soared to a record 1.42 million tonnes in the January-November period from 0.1 million tonnes in 2024 and 0.4 million tons in 2023, according to ship tracking data by Kpler. India typically imports over 60 per cent of its LPG consumption, most of which are sourced from Gulf nations.
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