A 5,000 mt parcel of  isomer-grade mixed xylenes that loaded from Taiwan's Kaohsiung port 

on Tuesday  is  the  first arbitrage  cargo  from Asia to the US in 2017, a market source said 

Wednesday. 

The cargo, sold  by South Korean producer GS  Caltex  on a CFR US Gulf basis in the mid-

$720s/mt, is part of term deal with CPC Corp. and is the January shipment. 

The cargo is likely to reach the US Gulf in early March, according to sources. 

February  US  MX  was  assessed  by  S&P  Global Platts  at 241  cents/gal FOB US Gulf on 

Tuesday, equivalent to $730.23/mt, while  the FOB Korea marker  was assessed at $676/m

t, a spread of $54.23/mt. 

The arbitrage is workable at a  freight rate of $40-$45/mt for major Asian producers and en

d-users. 

Platts assessed the freight for aromatics cargoes from South Korea to the US Gulf coast at 

$39.50/mt basis 10,000 mt. 

The vessel, which sailed from Kaohsiung on January 10, will go to South Korea where it will 

co-load other products before setting off for the US.