S Korea’s Samsung Total brings forward solvent oil unit shutdown

09 March 2012 08:51  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Samsung Total Petrochemicals shut its 50,000 tonne/year solvent oil plant at Daesan for maintenance on 5 March, instead of 3 April as originally planned, a company source said on Friday.

The change was due to a technical glitch at the facility, and the plant will be restarted on 11 May, as previously scheduled, the source said.

During the turnaround, Samsung Total will continue supplying to its contract buyers, but it will stop supplying spot cargo.

Traders in Asia said the shutdown will reduce regional supply by around 7,000-8,000 tonnes and this will keep solvent oil prices at or above the current levels in Asian markets.

South Korean No 100 and No 150 solvent oils were trading on 8 March at $1,170-1,200/tonne (€877-900/tonne) and $1,100-1,150/tonne FOB (free on board) Korea respectively, according to C1 Energy, an ICIS service in China.

($1 = €0.75)

By: Kim Lu
+65 6780 4359

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