Taiwan’s Formosa to restart No 2 cracker mid-Sept, eyes op rate cut

11 September 2012 05:59  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) is on track to restart its 1.03m tonne/year No 2 cracker in Mailiao later this week following the completion of a routine maintenance, a company spokesman said on Tuesday.

The unit, which was taken off line on 15 August, will be restarted on 14 or 15 September but thereafter the company may cut the operating rate at all its cracker, the spokesman added.

“We may reduce operating rates at all the crackers after we restart the No 2 cracker within this week, depending on the downstream demand and our exports performance,” the spokesman said.  

FPCC is currently operating the 700,000 tonne/year No 1 cracker and the 1.2m tonne/year No 3 cracker at Mailiao at full capacity, he added.

Talks are currently in place between the cracker operator and western traders to sell up to three lots of 5,000 to 6,000 tonnes of ethylene into Europe at $1,250-1,300/tonne (€975-1,014/tonne) FOB (free on board) Taiwan for loading at the end of September or early October.

This follows an award of a tender on 7 September for a 5,000 tonne cargo at $1,300/tonne FOB Taiwan, destined for south America.

($1 = €0.78)

By: Helen Lee
+65 6780 4359

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