Shell Singapore to pay for undelivered cargoes
Unable to deliver because of the Bukom fire last week, Shell offered to pay clients to effectively buy back the orders.
A Reuters report said, “Shell offered to pay BP Plc and JPMorgan for one cargo of middle distillates each, under an agreement known in the industry as a book-out.”
The cargoes, according to the report, include a 150,000-barrel parcel of jet fuel that was due to be delivered to BP between 30 September and 4 October and another 150,0000 barrels of 0.5 percent sulphur gas oil for 29 September to 3 October delivery to JPMorgan.
View the report here.
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Tags: Shell to pay for undelivered cargoes, Shell unable to deliver, Shell refinery fire, Bukom fire
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