China's Urumqi petrochem to deliver first PX cargoes by end-March

22 March 2011 06:42  [Source: ICIS news]

SINGAPORE (ICIS)--China's Urumqi Petrochemicals will deliver 10,000 tonnes of maiden paraxylene (PX) cargo from its 1m tonne/year unit in Xinjiang province by the end of the month, a company source said on Tuesday.

“We are loading the chemical wagons up and the cargoes will start moving towards Shandong on 23-24 March,” the company official told ICIS in mandarin.

The PX cargoes are expected to be snapped up by Yisheng Petrochemicals, Shaoxing Yuandong Petrochemicals and Xianglu Petrochemicals, and will be settled against the Sinopec PX Contract Price for the relevant month of delivery.

“Our current plan is to send all PX cargoes to Lanshan port in Shandong where vessels will be loaded for deliveries to customers,” the Urumqi Petrochemical official said.

“We don’t have any plans to move PX directly to Dalian for the time,” he added.

Urumqi Petrochemical, a wholly owned subsidiary of stated-owned PetroChina, achieved on-spec production of PX at its new unit on 28 December 2010.

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By: Bohan Loh
+65 6780 4359

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