South Korean refiner GS Caltex GSCAL.UL has started September spot gasoil sales via a tender in an unexpected move as it was offering an end-August loading cargo on Monday, three sources familiar with the matter said on Wednesday.

The private refiner is offering at least three 300,000-barrel 10 ppm sulphur gasoil cargoes and one 300,000-barrel 500 ppm sulphur gasoil cargo.

The 10ppm sulphur gasoil cargoes are to load Sept. 10-12, Sept. 13-15 and Sept. 19-21, while the higher-sulphur cargo is scheduled to load Sept. 8-10.

The tender closes on Aug. 4 with same-day validity.

It is surprising that GS has started September offers so soon as they have started their sales mid-month for the past four months, one of three sources said.

September’s export plan may have been confirmed at a faster pace ahead of strong demand expectations in winter and uncertainty regarding China’s third batch of export quotas, a second source said.
Source: Reuters (Reporting by Trixie Yap; editing by Jason Neely)