Indonesia’s Kaltim eyes restart of its 660,000t/yr methanol unit

08 January 2010 02:55  [Source: ICIS news]

SINGAPORE (ICIS news)--Indonesia’s Kaltim Methanol Industri expects to restart its 660,000 tonne/year methanol plant in Bontang by around 11 January, a company source said on Friday.

The plant was shut on 4 January due to technical problems.

Market players said this would add to the tight supply woes in the region. Deals had been heard this week in the $280/tonne (€196/tonne) CFR (cost and freight) Southeast Asia level, up $10/tonne from the last assessed prices on 18 December 2009.

The company had this week postponed a planned shutdown of the unit to the fourth quarter of 2010 from January-February because of strong methanol demand.

Other regional methanol producers include PT Medco Methanol Bunyu and Petronas.

($1 = €0.70)

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By: Heng Hui
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