South Korea’s GS Caltex GSCAL.UL has issued a third tender to sell July-loading gasoil cargoes, after clearing a portion of their July sales in the past two weeks, several sources with knowledge of the matter said on Tuesday.

The tender closes on June 27 with same-day validity.

The refiner is offering two cargoes of 500 ppm sulphur gasoil loading July 11 to 13 and July 26 to 28, the sources added.

The company has sold at least three 10 ppm sulphur gasoil cargoes and two 500 ppm sulphur gasoil cargoes since June 12, Reuters records show.

The increase in July spot volumes, compared with June-loading spot volumes, could be due to an increase in term contract allocations, one of the sources said.

Furthermore, seller margins for term contract cargoes were better than spot prices in June, with July-loading volumes almost steady with May-loading volumes, the source added.
Source: Reuters (Reporting by Trixie Yap; editing by Jason Neely)