Taiwan’s Formosa seeks 25,000-70,000t naphtha for H2 September

11 August 2010 11:19  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp has tendered to buy 25,000-70,000 tonnes of naphtha for delivery in the second half of September, a trader familiar with the matter said on Wednesday.

The tender would close on Thursday, the trader added.

Formosa last bought by tender 30,000-50,000 tonnes of naphtha for delivery in the first half of September, at a discount of $5-7/tonne (€4-5/tonne) to Japan quotes CFR (cost & freight).

The company plans to shut its 1.03m tonne/year No 2 naphtha cracker in Mailiao for a 40-45 day turnaround from late September or early October. 

Formosa had earlier said that the maintenance shutdown at the No 2 cracker, which was scheduled to start late August, would likely be 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 would likely be restarted in late September or early October, according to a company spokesperson.

The company also operates a 1.2m tonne/year No 3 naphtha cracker in Mailiao, Taiwan.

($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 blog – Asian Chemical Connections

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

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index