Taiwan's FPCC to skip naphtha spot purchase

12 July 2007 10:15  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s Formosa Petrochemical Corp (FPCC) will skip naphtha spot purchasing for September delivery as its domestic inventories were deemed ample and its No 2 cracker is scheduled for a maintenance shutdown that month, a company source said on Thursday.

 

“We have no spot requirements for September as our inventories are still high and we will be shutting down our No 2 cracker in September,” the source said.

 

FPCC is due to shut its No 2 cracker for maintenance on 3 September, for about 40-45 days.

 

It last purchased a July delivery naphtha cargo before its newest No 3 cracker started up in May, its second spot cargo in more than three months.

 

Asia’s largest cracker is currently running at full capacity, the first time since its start-up in May.

 

“It’s too early to say if we will buy October spot cargo or not. We’ll have to wait and see,” the source said.

 

FPCC recently secured term supplies from five Europe-based traders for October 2007 to December 2008 delivery at a discount to the Japan spot quotes on a CFR (cost and freight) basis, in order to meet demand at its No 3 cracker.

 

 

By: Nurul Darni
65 6789 4359

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly