The third TCP tender for 100,000 mt closed Nov. 18. The lowest offer came from Dreymoor at $344.42/mt CFR. The buying house disqualified two offering companies for technical reasons, leaving five companies with qualifying offers.
The winning price is about $8/mt less than the last TCP tender. Sources say the low price is largely because Dreymoor already had the tons and a vessel ready to roll. Industry watchers in Asia do not expect to see this lower price set a trend for the additional tenders.
The minimum tonnage to be offered in this tender was set at 75,000 mt, while the previous two tenders were at 100,000 mt each. Two more tenders will close Nov. 20 and Nov. 22. In the end, TCP hopes to secure 500,000 mt by the end of the year.