SINGAPORE - Egypt General Petroleum Corp. (EGPC) has received higher bids for a late May naphtha parcel lifting from Suez versus April from Total, thanks to robust Asian demand, traders said on Monday. But premiums for EGPC's cargo lifting from Alexandria port in May fell, reflecting that European and Asian demand are moving in opposite directions. Cargoes lifted from Alexandria are usually soaked up by Europe, while those from Suez are destined for Asia. Total placed the highest bid at nearly $17.00 a tonne to Middle East quotes on a free-on-board (FOB) basis for the 35,000-tonne cargo for May 26-28 loading from Suez. It also placed a bid at around $13.10-$13.20 a tonne premium for an optional cargo. These were higher than what Total had paid for an April 17-19 parcel from the same port from EGPC at the end of March, at around $12.50 a tonne premium, FOB. But the reverse was the case in EGPC's Alexandria cargo lifting in May. Vilma paid around $15.15 a tonne premium to Mediterranean quotes, FOB, for around 22,000 tonnes, down from $17.50 a tonne premium, FOB.
