East Asia naphtha imports from West of Suez are set to drop in April, according to BNEF.

• According to Bloomberg calculations, the current arbitrage index to pull naphtha from NWE to Japan is minus $51/mt, when including the price of the product plus delivery costs.
• However, netback margins have improved since March, amid a softening in freight rates.
• USGC naphtha exports to Asia have seen a lull since February due to poorer margins for the naphtha based petrochemical producers.
• The equivalent arbitrage index for USGC-Japan naphtha flows is minus $224/mt, according to Bloomberg.

Source: Bloomberg