Asia to draw at least 500,000 tonnes deep-sea naphtha in June

26 April 2013 05:42  [Source: ICIS news]

SINGAPORE (ICIS)—Over half a million tonnes of deep-sea naphtha supply is booked for Asia, with deliveries expected in June, traders said on Friday.

Asia is poised to receive 1.0-1.1m tonnes of deep-sea naphtha in May, which includes around 300,000 tonnes of US arbitrage naphtha material.

The deep-sea inflows for June will hail from northwest Europe, the Mediterranean, Russia and the US, traders said.

More arbitrage fixtures are expected over the next few weeks, as cracker maintenance in Europe will lead to more naphtha supply available for Asian customers, they added.

Meanwhile, Shell Chemical’s Moerdijk, Netherlands cracker restart has been delayed by 10-14 days.

The cracker, which is the second largest in Europe, has been down for a maintenance since 9-10 March and was originally due to restart around 28 April.

The delay will coincide with the shutdown of Europe’s largest cracker BASF’s 1.08 million tonnes/year ethylene cracker at Antwerp in Belgium which will begin to ramp down operations this weekend [27-28 April].

By: Felicia Loo

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