EPCA ‘08: Notable quotes from Monte Carlo

30 September 2008 12:54  [Source: ICIS news]

MONTE CARLO (ICIS news)--Here are some memorable quotes from the European Petrchemical Association (EPCA)conference.

 

“The banks are screwed. This isn’t a healthy economy. It’s going to be really volatile, a real rollercoaster ride,” a European aromatics trader tells it like it is.

 

“One analyst at an EPCA meeting projected that oil prices would be in a range of $70-200/bbl in 2009 - and that person wasn’t even joking,” European chemicals buyer.

 

“Our view is that we will slide down in 2009 and that the trough will be in 2010,” INEOS Olefins CEO Tom Crotty.

 

“Could you find another industry that has to sit on the sidelines and see 16 ships pirated in the Gulf of Aden, and only the fact that one had tanks on board led to any action?" Stolt Tankers’ Hans Feringa on the shipping sector’s lack of influence.

 

“Why would a monthly system be fairer, more efficient and timelier? If the final customer wants price stability someone has to absorb it,” Total Chemicals president Francois Cornelis discussing the olefins pricing mechanism.

 

“Cracker operating rates will be lower than in the past couple of years but if China picks up soon by the year 2011 we could reach the operating rates we [have been] used to,” SABIC Europe CEO Boy Litjens.

 

"In 20 years' time, if you are not tied up with a refiner or have global reach you will have problems. By 2025 there will be a shortage of available feedstocks in Europe," Gulf Petrochemicals and Chemicals Association (GPCA) secretary-general Abdullah S bin Zaid al-Hagbani.

 

“Plastic is only 1% of total waste in Europe, but its image, far from being bad, is terrible,” Total Chemicals president Cornelis on the scale of plastics in landfill sites.

 

“The original slogan for credit cards was, ‘Take the waiting out of wanting’. Now, as this leverage is unwound you are going to put the waiting back into the wanting. What you are going to see is demand falling off a cliff,” International eChem chairman Paul Hodges.

 

“All in all the economy is not bad, the industry is behaving well so there should be no reason for people to start doubting, but I’m afraid that will not be the case and I’m pessimistic for 2009,” Tessenderlo director of chemicals Frank Coenen.

 

“The styrene market isn’t much fun, that’s about it,” a trader - heading for the bar.

 

To discuss issues facing the chemical industry go to ICIS connect

 

By: Mark Watts
+44 20 8652 3214

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

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