INEOS to restart ethyl acetate unit in early February

28 January 2010 11:49  [Source: ICIS news]

LONDON (ICIS news)--INEOS is aiming to restart its ethyl acetate unit at Hull in the UK in the first days of February, a company source said on Thursday.

The company declared force majeure on ethyl acetate supplies in Europe on 18 January, following an unsuccessful restart of the 245,000 tonne/year unit.

The plant went into a scheduled outage at the end of November and had already delayed its restart from 18 December to early January and then late January.

“We have been able to supply contractual customers with 30-40% of their volume,” the source added.

Even with a successful restart, the company will then need to go through the process of building stocks and recovering logistics, which was expected to take a few weeks.

As a result of the supply tightness, there was a wide range of prices heard from the European market, but most tended to be between €880-950/tonne ($1,239-1,338/tonne) FD (free delivered) NWE (northwest Europe), according to data from global chemical market intelligence service ICIS pricing.

($1 = €0.71)

For more on ethyl acetate visit ICIS chemical intelligence
For more on INEOS visit ICIS company intelligence
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By: Jane Massingham
+44 20 8652 3214

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