S Korea’s YNCC to cut cracker run rates after Daelim’s tank blast

18 March 2013 09:00  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Yeochun NCC (YNCC) plans to reduce the operating rates across its three naphtha crackers this week following a blast at a polyethylene (PE) storage tank at Daelim Industrial Co’s plant at the same site, a company source said on Monday.

“We plan to cut by 10 percent within this week,” said the source, adding that it remained unclear how long the cuts will be in place.

YNCC’s three crackers - with a combined ethylene nameplate capacity of 1.9m tonnes/year - were running at 100% capacity prior to the incident.

The company is a regular supplier of ethylene to Daelim.

On 13 March, Daelim Industrial had shut its No 1 and No 2 high density PE (HDPE) plants – each with a 130,000 tonne/year capacity – in Yeosu for planned maintenance. Its’ No 3 PE plant at the same site was not included in the maintenance and was scheduled to produce metallocene linear low density PE through March before the blast occurred.

The YNCC source had no update on the derivative plant situation but said that there would be no prompt ethylene spot shipments for sale as the company has decided to cut the cracker run rates.

By: Peh Soo Hwee
+65 6780 4359

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