China's CNOOC-Kings to halt September and October PX deliveries

26 August 2011 11:29  [Source: ICIS news]

SINGAPORE (ICIS)--CNOOC-Kings Group will not be making deliveries for obligated September and October paraxylene (PX) contracts, a customer of the Chinese aromatics producer said on Friday.

Market players said that there could be a two-month delay in restarting the firm’s 840,000 tonne/year PX unit at Huizhou in China.

CNOOC-Kings Group had earlier told ICIS they are eyeing an end-August or early-September restart for the PX unit after it was shut on 11 July following a fire.

“They have already verbally informed us that they will be unable to deliver cargoes for September and October,” said a purified terephthalic acid (PTA) maker.

CNOOC-Kings Group declined to comment on the delays it is facing in restarting the PX unit in Huizhou.

Various customers of the firm were heard actively seeking September PX deliveries during the week ending 26 august.

By: Bohan Loh
+65 6780 4359

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