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)

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By: Felicia Loo



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