UpdateTaiwan's Formosa eyes July restart for No 2 and 3 crackers

26 June 2012 08:23  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) plans to restart its 1.03m tonne/year No 2 and 1.2 m tonne/year No 3 naphtha crackers at Mailiao in July, a company source said on Tuesday.

The No 2 cracker is now expected to restart on 2 or 3 July while the No 3 cracker is due to resume operations on 12 or 13 July, the source said.

Both crackers were shut following a power disruption at the site on 20 June.

A two hour-long suspension of electricity supply at around noon Taiwan time (04:00 GMT) last Wednesday had forced about 95% of the plants at the complex to be shut, including downstream units belonging to various firms within the Formosa group, according to industry sources.

FPCC also runs another 700,000 tonne/year No 1 naphtha cracker in Mailiao, which was shut on 19 June for scheduled maintenance until 5 August, the company source said.

The outage had boosted ethylene prices this week as FPCC is seeking spot cargoes for early to mid-July arrival, market and company sources said.

Ethylene was assessed at $950-1,000/tonne (€760-800/tonne) CFR NE Asia at noon, representing a $30-40/tonne increase from levels a week earlier.

($1 = €0.80)


By: Peh Soo Hwee
+65 6780 4359



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