Chemical News
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Sharjah launches new LPG blending complex, ready for imports Jun 25,2018
Sharjah National Oil Corp. is diversifying into the LPG marketing business, with the launch of a new blending and loading complex in the UAE, and expects to begin importing LPG to meet domestic demand, the company announced Sunday. Previously a small exporter, SNOC will begin importing LPG for its blending plant at the Sajaa complex at the Hamri...>>>
Mountain Valley Pipeline delay feared after US court ruling on water permit for gas project Jun 25,2018
EQT Midstream Partners said Friday that a federal appeals court ruling affecting a water permit for a portion of its 301-mile Mountain Valley Pipeline was a setback that could delay the 2 Bcf/d natural gas project's construction timeline. Industry research firm ClearView Energy Partners said in a note to clients that the decision may set the pro...>>>
Taiwan's Formosa Plastics Marine seeks extended bunker term deal ahead of IMO 2020 rule Jun 25,2018
Taiwan's Formosa Plastics Marine Corporation is seeking an 18-month term contract for the purchase of bunker fuel from Hong Kong over July 2018-December 2019, instead of its usual 12-month term, ahead of the IMO 2020 ruling, trade sources said Friday. This is the first time that the Taiwanese shipper is seeking a term tender that runs over 18 m...>>>
Brent plunges as market looks ahead to supply increase Jun 25,2018
Crude oil futures were lower during mid-morning trade in Asia Monday, with the Brent futures contract falling close to 2% amid profit-taking while markets were looking ahead for increased supply from OPEC and its allies after their meeting over the weekend. At 10:30 am Singapore time (0230 GMT), ICE August Brent crude futures fell $1.43/b (1.89...>>>
French-Belgian July power auction price 10 times higher on year: JAO Jun 25,2018
The cross-border power auction price between France and Belgium for July was Eur5.91/MWh, 10 times higher than a year earlier and the highest July auction price since 2015, according to the Joint Allocation Office Friday. The rise in the monthly auction price followed fresh concerns about nuclear reactors in Belgium after delays to the return of...>>>
US thermal coal export values helped by low supply; hampered by tight capacity, capital Jun 25,2018
Low supply is helping support US thermal coal export prices, as extra tons remains hard to come by, market sources said Friday. "I know of only one [Illinois Basin] cargo for sale in Q4, and if you want to buy it, you have to buy some Cal 19 tons, too," said a US-based source. US producers remain cautious with production, stuck between fear o...>>>
Shipping associations urge pragmatic approach to IMO 2020 sulfur compliance Jun 25,2018
Five shipping associations have called on the International Maritime Organization to adopt a pragmatic approach when enforcing compliance with its global sulfur cap of 0.5% in marine fuels to avoid compromising safety or unfairly penalizing individual ships. Unlike in 2015, where ships entering Emission Control Areas primarily changed to ISO 82...>>>
Asian petrochemicals market outlook, w/c Jun 25 Jun 25,2018
The Asian petrochemical markets this week will depend on the impact of environmental regulations tightening in China, plant outages and seasonal lull in demand. The final antidumping duties effective last week, that would last for five years, could have a mixed impact on benzene and styrene moving forward. Meanwhile, turnaround season for metha...>>>
Neo Group starts new 160,000 mt/year Lithuanian PET line: source Jun 25,2018
Lithuania-based Neo Group's new polyethylene terephthalate line started production last week, a company source told S&P Global Platts Friday. The new line adds 160,000 mt/year of PET capacity to the company's manufacturing complex near the port of Klaipeda in Lithuania. The new line will take Neo Group's annual PET production capacity to 500,...>>>
India's Tata Steel starts expansion work on Kalinganagar plant Jun 25,2018
India's Tata Steel started expansion work on its Kalinganagar plant in Odisha state to raise capacity to 8 million mt/year, from 3 million mt/year, on June 22, a company spokesman confirmed last Friday. Construction began on a 2.2 million mt/year cold roll mill which will allow Tata to make panels for automobile bodies. The steelmaker is in...>>>
Japan's Idemitsu to raise Jul-Sep crude runs by 3% on year to 484,041 b/d Jun 26,2018
Japanese refiner Idemitsu Kosan said Tuesday it plans to process a total 7.08 million kiloliters or 484, 041 b/d of crude oil over July-September, up 3% year on year, as it prepares for the summer demand season amid strong gasoil demand in the domestic market. Of the July-September plan, Idemitsu plans to hike its crude throughput for the domest...>>>
Alaska Native corporations wildcatting in big unexplored interior basins Jun 26,2018
Alaska Native-owned oil service contractors are exploring the state's large, mostly untested interior sedimentary basins, areas long thought to be natural gas-prone but now known to also have crude oil potential. The Trans Alaska Pipeline System runs through several of the basins being tested, which includes state-owned as well as lands owned by...>>>
NYISO to solicit reliability solution from LIPA due to gas unit closures Jun 26,2018
New York's power grid operator said Monday it will solicit a reliability solution from the Long Island Power Authority associated with two natural gas units scheduled to be closed in November. In accordance with its tariff, the New York Independent System Operator notified stakeholders that a generation deactivation assessment identified two rel...>>>
Thai data: May coal imports rise 19% on year to 2.05 million mt Jun 26,2018
Thailand imported 2.05 million mt of coal in May, up 19.2% from a year earlier, according to customs data released on Monday. Of the total, 413,279 mt comprised bituminous coal, 50% lower year on year, largely from Australia -- 314,194 mt, down 15.5% year on year -- and Indonesia -- 98,189 mt, down 76.1%. Imports of other coals, however, in...>>>
Scorpio enters fourth sale/leaseback for extra $42 million in liquidity Jun 26,2018
Scorpio Tankers has agreed to sell and lease back two Medium Range refined product tankers and two Long Range 2 tankers to an international financial institution for an aggregate liquidity boost of $42 million after repayment of outstanding debt, Scorpio said Monday. Scorpio will bareboat charter-in the vessels for seven years, with purchasing ...>>>
Japan's Keiyo Ethylene to run steam cracker below 100% after July restart Jun 26,2018
Japan's Keiyo Ethylene is unlikely to operate its naphtha-fed steam cracker at Chiba at 100% of capacity after restarting it on July 3, a company source said Tuesday. The steam cracker was shut on May 13 for maintenance. The source said some mechanical problems were found during the turnaround, which is why it was unlikely to run at 100% after ...>>>
Americas petrochemicals market outlook, w/c June 25 Jun 26,2018
What to expect in the coming week in Americas petrochemicals in olefins, benzene and styene, aromatics, PVC, polyethylene, polypropylene and polymers. US OLEFINS US propylene market participants enter the week awaiting the settlement of June propylene contract pricing, with expectations of increases heard at a range of 6-10 cents, with most...>>>
Malaysian steelmakers hopeful new cabinet will take industry forward Jun 26,2018
Malaysian steel industry representatives at an industry conference in Jakarta this week expressed the hope that the country's new cabinet, due to be sworn in soon, will continue to make infrastructure development a policy focus. This was cast in doubt with the new prime minister Mahathir Mohamad saying that his government would review all Chines...>>>
Southeast Asian mills get relief amid lower Chinese exports Jun 26,2018
The mood at this June's biannual South East Asia Iron and Steel Institute conference has decidedly shifted to one of relief with the perennial bugbear of "cheap Chinese steel" having taken a backseat. This contrasted with the more strident tone of the past few years, when the conference saw delegates openly air concerns about a deluge of Chines...>>>
Analysis: US-China trade war offers Brazil opportunity to boost soybean exports Jun 26,2018
One country that could indirectly benefit from the intensifying US-China trade war is Brazil, which finds itself in a strategic position to increase its market share of soybean exports to China. China is expected to import 100 million mt of soybeans this year, up from 95 million mt in 2017. The US accounted for 33 million mt, or just over a thir...>>>