23 November 2012 11:51 [Source: ICIS news]
LONDON (ICIS)--Methanol plants in Trinidad owned by Methanol Holdings (Trinidad) Limited (MHTL) were restarted on Wednesday and are running at good rates, although not 100%, a source with European marketers Helm said on Friday.
The plants began to restart over the weekend, following a power outage late last week that shut down most of the methanol and ammonia plants at Trinidad’s Point Lisas industrial complex.
“We have gas supply to an extent, [and the plants] are running at good rates, although not full rates,” said the source. MHTL owns five methanol plants on the island.
Despite the resumed production, methanol prices in Europe have not receded. Both the US and European markets were already tight prior to the events of last week and the source feels there is little chance that supply will ease before the end of the year.
“The market remains quite tight physically. We saw shipments being delayed, and don’t forget Methanex was also probably impacted, so you can expect around 60,000-80,000 tonnes to have been lost [from last week’s power outage in Trinidad]. America and Europe are both affected,” the source said. “Going into December, there’s not much physical improvement that I can see.”
Methanex operates two methanol plants in Trinidad, but confirmation of their operating rates could not be obtained.
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