Taiwan’s Formosa buys 30,000-50,000t naphtha for H1 Sept delivery

06 August 2010 09:16  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp has bought by tender 30,000-50,000 tonnes of naphtha for delivery in the first half of September, traders said on Friday.

The cargoes fetched a discount of $5-7/tonne (€3.80-5.30/tonne) to Japan quotes CFR (cost & freight), they added.

Meanwhile, Formosa plans to shut its 1.03m tonne/year No 2 naphtha cracker in Mailiao, Taiwan, for a 40-45 day maintenance turnaround at the end of September or early October.

The shutdown at its No 2 cracker had originally been scheduled to begin in late August, but was pushed back after a blast in early July shut down its 700,000 tonne/year No 1 naphtha cracker at the same site.

The No 1 cracker was likely to be restarted in late September or early October, according to a company source.

Formosa also operates a 1.2m tonne/year No 3 naphtha cracker in Mailiao.

($1 = €0.76)

Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry, go to ICIS connect
Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog

By: Felicia Loo

AddThis Social Bookmark Button

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