Asian Markets
February 26, 2020
Asian Propylene Climbs
Propylene prices climb in Asia on Tuesday
Reports of limited product avails, further supported the price gain.
FOB Korea propylene prices were assessed up at the USD 795/mt levels, while CFR China propylene prices were assessed at the USD 805/mt levels, both up USD 20/mt from last Friday’s assessed levels.
In plant news, Tosoh Corp, is likely to undertake a maintenance shutdown at its naphtha cracker on March 5, 2020. The cracker is expected to remain under maintenance till April 20, 2020. Located at Yokkaichi in Japan, the cracker has an ethylene production capacity of 527,000 mt/year and a propylene production capacity of 315,000 mt/year.
In other plant news, PTT Global Chemical (PTTGC), is likely to restart its No. 2 cracker, by end-February 2020. The cracker was shut for a maintenance turnaround on January 20, 2020. Located at Map Ta Phut, Thailand, the No. 2 cracker has an ethylene production capacity of 400,000 mt/year.
PTT Global Chemical (PTTGC), shut its No. 1 cracker on January 23, 2020 for a maintenance turnaround. The cracker is expected to remain under maintenance for about 6 weeks. Located at Map Ta Phut, Thailand, the No. 1 cracker has an ethylene production capacity of 515,000 mt/year and a propylene production capacity of 295,000 mt/year.
February 26, 2020
Asian Propylene Climbs
Propylene prices climb in Asia on Tuesday
Reports of limited product avails, further supported the price gain.
FOB Korea propylene prices were assessed up at the USD 795/mt levels, while CFR China propylene prices were assessed at the USD 805/mt levels, both up USD 20/mt from last Friday’s assessed levels.
In plant news, Tosoh Corp, is likely to undertake a maintenance shutdown at its naphtha cracker on March 5, 2020. The cracker is expected to remain under maintenance till April 20, 2020. Located at Yokkaichi in Japan, the cracker has an ethylene production capacity of 527,000 mt/year and a propylene production capacity of 315,000 mt/year.
In other plant news, PTT Global Chemical (PTTGC), is likely to restart its No. 2 cracker, by end-February 2020. The cracker was shut for a maintenance turnaround on January 20, 2020. Located at Map Ta Phut, Thailand, the No. 2 cracker has an ethylene production capacity of 400,000 mt/year.
PTT Global Chemical (PTTGC), shut its No. 1 cracker on January 23, 2020 for a maintenance turnaround. The cracker is expected to remain under maintenance for about 6 weeks. Located at Map Ta Phut, Thailand, the No. 1 cracker has an ethylene production capacity of 515,000 mt/year and a propylene production capacity of 295,000 mt/year.
February 16, 2020
Tankers Back Up in Asia Because of the Virus
https://twitter.com/SStapczynski/status/1228519775036329984?s=20
February 16, 2020
Tankers Back Up in Asia Because of the Virus
https://twitter.com/SStapczynski/status/1228519775036329984?s=20
February 14, 2020
BASF Responds to Coronavirus
BASF Diverts Products From Chinese Customers Due to Coronavirus Disruption
BEIJING, Feb 14 (Reuters) – German chemical giant BASF diverted some products to Europe from its Chinese clients following a coronavirus outbreak that has disrupted logistics and delayed factories from resuming operations.
Shanghai BASF Polyurethane Co, a joint venture of BASF and China’s Sinopec Assets Management Corp and Shanghai Huayi Group Co, provisionally exported 3,150 tonnes of toluene diisocyanate (TDI), a raw material widely used in automobile and construction, to Europe, said China’s customs on Friday.
The products were bonded to sell to BASF’s Chinese clients who pushed back the orders amid the flu-like coronavirus that has killed 1,380 and infected more than 63,000.
The Chinese government has prolonged the Lunar New Year holiday for an extra week and encouraged companies to put workers returning for work from their hometown into quarantine for 14 days, in order to rein in the spread of the virus.
Some companies are still unable to resume production and some roads in the country remain blocked.
“Although the company had adopted emergency measures to reduce operation, inventory at the storage tanks reached the upper-limit,” said the General Administration of Customs in a statement on Friday.
Chemical companies would face hefty costs and safety risks when shutting down and restarting in a provisional situation.
“We have been taking necessary precautions to ensure our operation stability at the coronavirus outbreak,” said a spokeswoman at BASF in China.
“Although there have been individual supply or distribution interruptions in China, the overall impact to our operation is limited at the moment.”
(Reporting by Muyu Xu and Tony Munroe, editing by Louise Heavens)
https://www.haaretz.com/world-news/wires/1.8532676
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