21 January 2014 03:00 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s GS Caltex plans to shut its vacuum gas oil (VGO) fluid catalytic cracking (FCC) unit in Yeosu for 24 days of scheduled maintenance from the end of April, a company source said on Tuesday.
The new FCC, which was started up in March 2013, can produce around 250,000 tonnes/year of propylene.
GS Caltex also runs a residual fluid catalytic cracking (RFCC) unit, which can produce around 220,000 tonnes/year of propylene, at the same site. This facility will not be undergoing maintenance this year, the source said.
The two units are expected to run at an average operating rate of 85-90% in the first half of 2014, which would mean that the company will not have spot propylene cargoes for sale, the company source said.
“The gasoline economics are not so good,” he said.
GS Caltex, however, has term propylene contracts with traders.
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