S.Korea Honam seals July '12-June '13 naphtha deal

SINGAPORE, June 25 Mon Jun 25, 2012 1:06am EDT

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SINGAPORE, June 25 (Reuters) - South Korea's Honam Petrochemical has agreed to pay a higher price for naphtha supplies arriving in a 12-month period starting July versus cargoes being delivered in January-December this year, traders said on Monday.

Honam will pay around a discount of 50 cents a tonne to Japan quotes on a cost-and-freight (C&F) basis for naphtha arriving at Yeosu during July 2012 to June 2013.

It will pay a premium of 50 cents a tonne for cargoes arriving in Daesan during the same period. (Reporting by Seng Li Peng; Editing by Sunil Nair)