45,028 tons urea arrives

Against a recent tender of Trading Corporation of Pakistan (TCP) for import of 50,000 tons urea, 45,028.695 tons urea arrived at Karachi Port through vessel mv Rosita on Saturday.
TCP's tendering last month for urea proved beneficial as it saved $ 475,000 through this tender because urea prices in international market now are touching the levels of FOB $248 to 250 per ton, whereas TCP had awarded this tender at $ 249.93/PMT CNF Karachi.
Besides the above saving due to price difference, TCP would impose penalty on the seller as the vessel arrived with some delay due to weather and congestion at Bosphorus and Suez Canal during the voyage of vessels which, too, is chargeable under the norms of TCP penalties.