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UPDATE 3-Egypt's GASC receives offers in wheat tender - traders

Published 03/10/2015, 11:28 pm
© Reuters.  UPDATE 3-Egypt's GASC receives offers in wheat tender - traders

(Adds freight offers)

ABU DHABI, Oct 3 (Reuters) - The lowest offer in Egyptian state buyer GASC's wheat purchase tender that closed on Saturday was $189.74 a tonne free on board (FOB) for French wheat, traders said.

The offer was made for 60,000 tonnes, they said.

No purchase has yet been made and results are expected later on Saturday, traders said.

GASC is seeking the wheat for shipment Nov. 1-10.

Abdelfattah said earlier Saturday that he would accept offers of wheat with a moisture content of up to 13.5 percent. ID:nL5N12305E

Traders said the following offers were submitted to GASC in the first round of the tender on Saturday (in dollars a tonne FOB):

*Soufflet: 60,000 tonnes French at $189.74

*Louis Dreyfus: 60,000 tonnes Russian at $189.94

*Glencore: 55,000 tonnes Russian at $189.95

*Lecureur: 60,000 tonnes French at $190.50

*Venus: 60,000 tonnes Ukraine at $190.98

*Alegrow: 60,000 tonnes Russian at $192.56

*Invivo: 60,000 tonnes French at $192.80

*Cargill: 60,000 tonnes Russian at $193

*BTG: 55,000 tonnes Russian at $193.20

*ADM: 60,000 tonnes Romanian at $194.29

*Bunge: 60,000 tonnes French at $194.74

*Cargill: 60,000 tonnes French at $195

*Vitol: 60,000 tonnes Russian at $195.93

*Union Co.: 60,000 tonnes Russian at $196.69

*Union Co.: 60,000 tonnes Russian at $198.89

*Nidera: 55,000 tonnes Russian at $199.95

Traders also said the shortlist of best offers on a cost and freight basis (C&F) was as follows:

*Louis Dreyfus: 60,000 tonnes of Russian wheat at $189.94 a tonne FOB and $9.90 a tonne freight equating to $199.84 a tonne

C&F

*Venus: 60,000 tonnes of Ukraine wheat at $190.98 a tonne FOB and $9.10 a tonne freight equating to $200.08 a tonne C&F

*Glencore: 55,000 tonnes of Russian wheat at $189.95 a tonne FOB and $10.60 a tonne freight equating to $200.55 a tonne C$F

*Alegrow: 60,000 tonnes of Russian wheat at $192.56 a tonne FOB and $8.79 a tonne freight equating to $201.35 a tonne C&F

*Soufflet: 60,000 tonnes of French wheat at $189.74 a tonne FOB and $12.19 a tonne freight equating to $201.93 a tonne C&F

The following freight (ocean shipping) offers were made to transport the wheat purchased in the tender, in dollars per tonne:

Russia

*National Navigation: $9.90 (Novo)

*Union Co.: $7.22 (Novo)

*UME: $8.79 (Novo)

*National Navigation: $10.60 (Tuapse)

*National Navigation: $10.60 (Taman)

Ukraine:

*Venus: $9.10 (Odessa)

*National Navigation: $10.90 (Odessa)

France

*Venus: $12.19

There is a condition that National Navigation Company take two vessels in the tender

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