Asia top stories – weekly summary
26-Aug-2013
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle east for the week ended 23 August 2013.
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Focus – Asia naphtha market gets relief
from arbitrage window closure
Asia’s naphtha market
is getting some relief from further inflows of surplus
deep-sea cargoes, now that arbitrage economics to move
western material eastwards are no longer viable, traders said
on Friday.
Focus – China amines seen firming on tight supply, plant
shutdowns
Spot prices of monoethanolamines (MEA), diethanolamines (DEA)
and triethanolamines (TEA) in China may continue rising in
response to tightening supply amid plant maintenance in the
country and overseas, market participants said on Thursday.
Focus – Asia naphtha spreads dwindle on ample supply,
cracker shutdowns
Naphtha’s price spreads and crack values in Asia are set to
weaken as the regional market is awash with supply amid
outages and impending turnaround at regional crackers,
traders said on Wednesday.
Focus – Asia caustic soda to stay weak near term on
lacklustre demand
Spot caustic soda prices in Asia are likely to stay weak in
the near term as demand has remained sluggish, industry
sources said on Tuesday.
India’s GAIL firms up $6.4bn investment plan for new
projects
Indian gas transportation and logistics major GAIL India
Limited is planning to invest $6.42bn (€4.81bn) over the next
three years to build new projects in the petrochemicals and
fertilizer sectors, a company official said on Monday.
Kuwait’s KPC sells 125,000 tonnes spot naphtha for Sept
loading
State-owned oil company Kuwait Petroleum Corp (KPC) has sold
125,000 tonnes of spot naphtha for loading in September,
traders said on Thursday.
Bahri, Saudi Aramco, SembCorp team up to develop
maritime yard
The National Shipping Company of Saudi Arabia (Bahri), oil
firm Saudi Aramco and Singapore’s Sembcorp Marine are teaming
up to develop a maritime yard in the Middle Eastern country,
Bahri said on Tuesday.
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