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India's Essar Steel seeks LNG cargo on GLX trading platform

Reuters  |  SINGAPORE 

(Reuters) - sought a (LNG) cargo on an this week, three industry sources said on Thursday.

The company, a unit of Indian Essar Group, was seeking a cargo on a delivered ex-ship (DES) basis for delivery into Dahej over Dec. 28-29, the sources said.

It sought a cargo through trading marketplace Global Exchange (GLX) on Wednesday but did not attract any offers, one of the sources said.

typically buys from in the domestic market and sometimes buys in the spot market, a second source added.

An Essar said that "tenders were floated but no trade (took) place".

in the western state of is currently operating at 6.5 million tonnes a year because of constraints in iron ore supply and shortages of used to run its furnace.

agreed on Oct. 25 to pay 543.89 billion rupees ($7.4 billion) to settle creditor claims and exit from bankruptcy.

The company's creditors a day later approved a joint offer by and Japan's for Essar Steel.

(Reporting by Jessica Jaganathan; Editing by and David Goodman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 08 2018. 21:49 IST
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