Chemical News
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China:Freight rates for shipping fuel oil southwards remain stable amid weak demand Jul 21,2010
The freight rates for delivering fuel oil from northern China to East and South China have been stable recently though shipping demand stays weak, C1's survey with ship owners found. For 3,000-DTW oil tankers moving from Dalian to Zhoushan, the freight rates were Yuan 85-95/mt on Jul 20, without change from Jul 5. In the meantime, the rates fo...>>>
China: Three oil majors differ on retail market expansion in 2010 Jul 22,2010
China three state-run oil giants: PetroChina Co Ltd, Sinopec Corporation and China National Offshore Oil Corporation (CNOOC), started to change their strategies in developing oil retail market in 2010, but the three's strategies differ. Sinopec switched from increasing retail stations in previous several years to improving retail sales volume of ea...>>>
China: Zhejiang Spandex Manufacturers Intended to Raise Prices Largely due to Electricity Limit Jul 22,2010
Some spandex manufacturers in Zhejiang, China had gradually cut down operation rates or shut down due to electricity limit measures adopted in Zhejiang province. As a result, manufacturers reached an agreement to adjust upward prices by Rmb 1000-2000/ton. The spandex capacities in Zhejiang province amounted to 186400 tons, occupying 53% o...>>>
China: U-NUS KOREA Introduced High-end TPU Materials to China Jul 22,2010
U-NUS KOREA has recently introduced its high-end Extigen TPU products to Chinese market. According to relevant person in U-Nus China Chemical Co., Ltd., Extigen, as halogen-free flame retardant TPU, showed excellent stability and reliability, with LOI of 33%. Meanwhile, it had passed UL94 V-0 flammability testing. Extigen TPU HFC 903...>>>
Estimated Global Capacity for Butanediol Reached 1.9 mln Tons in 2009 Jul 22,2010
Worldwide butanediol (BDO) capacity has been growing at a sizeable rate during the past years. Estimated global capacity reached 1.9 mln tons in 2009. The most notable increases in production were observed in Asia. Consolidation of older and non-integrated plants is expected in the coming years. At the same time overcapacity remains one of the bigg...>>>
Britain: BMS expands capabilities for medical coatings development Jul 22,2010
Bayer MaterialScience (BMS) has recently made improvements to its Medical Coatings Development Centre in Sheffield, UK, extending its capacity for feasibility studies and customer development support. The R&D facility is solely dedicated to the Baymedix C portfolio of coatings for medical devices. Driven by new projects stemming from the recent US...>>>
China: Sinopec, Rizhao Port Group to start operation of 300,000-DWT crude jetty in Nov Jul 22,2010
Sinopec and Rizhao Port Group in Shandong are likely to begin operation of a joint-venture 300,000-DWT jetty for crude in Lanshan District's Beigang, according to a source with Rizhao Port Group. "The construction of this jetty is basically completed, but inspection will take quite a long time as it is a large jetty," the source said. C1 lear...>>>
China:PetroChina boosts gasoil wholesale prices amid tightening supply after pipeline explosion Jul 22,2010
PetroChina pushed up wholesale prices of gasoil in southern China, as its supply tended to be tight in the wake of pipeline explosion in Northeast China's Dalian, C1's survey found. The oil giant raised gasoil wholesale prices by Yuan 50/mt in Jiangsu, Zhejiang and Shanghai in East China. The prices were also lifted in Central China, with the ...>>>
China: Oil tankers still not allowed to berth at Dalian Xingang oil port Jul 22,2010
The embargo on the Dalian Xingang oil port has not been lifted by Jul 21, although the port was re-opened to navigation from late Tuesday, C1's survey found. Container ships could come to berths at Xingang oil port from 17:00 of Jul 20, but crude and oil products tankers were still not allowed to load or unload, according to a source with the ...>>>
China: South China commercial fuel oil inventory slightly builds to 1.66-mil mt Jul 22,2010
Minor refineries in South China's Guangdong Province saw their refining margins fell further in the negative territory, as feedstock costs kept rising, C1's survey found. The margin was minus Yuan 68/mt on average in theory Wednesday, versus Yuan 44/mt one week ago, while Yuan 192/mt higher than a year earlier, C1's estimated. Ex-terminal...>>>
China: Dalian Wepec resumes normal crude runs Jul 23,2010
Dalian Wepec has lifted crude throughput to the level before pipeline blasts, hitting about 24,000mt a day (170 kbd), up 20% from 19,000mt a day (140 kbd), a source with the refinery told C1. Oil products shipments from Dalian Xingang oil port were rising with the traffic control lifted, the source said. The crude supply may still be some...>>>
China: Prediction of China's TDI Market in Q3 Jul 23,2010
In the first half of 2010, TDI prices went down to lowest point, almost duplicating the price trend in 2008. Stockpiles could not be digested in time due to weak demand while imports prices were even lower than the cost prices. Thereby the whole market kept dull. From the end of June to the beginning of July, low-end transaction prices of homemade...>>>
China Q2 Economic slowdown has Negative Impacts on PU Industry Jul 23,2010
Second-quarter growth of China’s economy fell to 10.3 percent from the first quarter's 11.9 percent as Beijing wound down its giant stimulus and cooled credit, data showed last Thursday. While economic growth slowed down, China’s PU industry also took bearish tone in the second quarter. Demand at chemical market shrank obviously in recent m...>>>
China: Shandong independent refineries run at 39% Thu, down 7 percentage points on week Jul 23,2010
Operation rates of independent refineries in Shandong Province dropped to 39% Thursday, down 7 percentage points from one week ago, down 5 percentage points compared to a year earlier, C1's survey found. Many refineries reduced run rates with bearish expectations on refining margins, according to refinery sources. Changyi Petrochemical cu...>>>
China: Yanchang Petroleum slashes gasoline prices on high stock Jul 23,2010
Shaanxi Yanchang Petroleum (Group) kept reducing gasoline prices in recent two days, because of hefty stock caused by sluggish sales, C1's survey found. The company accumulatively cut truck price by Yuan 260/mt and lowered Yuan 180/mt by rail with discounts ranging from Yuan 100/m to Yuan 200/mt. It saw gasoline sales impacted significantly b...>>>
China: Tropical storm "Chanthu" impacts fuel oil re-export in South China Jul 23,2010
The tropical storm "Chanthu" that was expected to land in west Guangdong on Jul 22 has impacted some fuel oil cargoes for re-export, said a port source in Zhuhai. These fuel oil cargoes for Chimbusco Pan Nation have been delayed as Zhuhai port suspended operation as from Jul 21 because of the storm, the source said. Chimbusco Pan Nation had ...>>>
China: Window for downward adjustment to oil product prices may open late Jul Jul 23,2010
The window for downward adjustment to domestic oil product retail ceiling prices may open if the price of Brent crude hovers below US$74/bbl in the coming week, C1 estimated. As of Jul 21, the 22-working-day moving average price of Brent, Dubai and Cinta was 3.96% lower than the average closing price of the crude basket on May 28, which was th...>>>
China: 2010 PE Market Prospect Jul 23,2010
Zhenhai Etylene’s 450,000 tonnes/year full-density PE unit was put into production in June and a supply increment of 3.05 million tones/year will be highly concerned in the second half of the year. Output of plastic products in Jan-May increased 22.3% from the same period of 2009. The growth was high but the upward pace slowed. Many playe...>>>
Japan's JX ramps up cracker, butadiene units to 100% capacity Jul 23,2010
Japan's JX Nippon Oil & Energy Corporation has been running its sole naphtha-fed steam cracker and butadiene unit at 100% of capacity since early July, from around 80% in late June, as the company has cleared out clogging from its water pipes, a company source said Thursday. The steam cracker is able to produce 404,000 mt/year of ethy...>>>
America: Braskem receives license to run "100% renewable" plastics plant Jul 23,2010
Braskem, the largest thermoplastic resin producer in the Americas, said Wednesday it received a license to begin operating a Brazilian plastics plant that will use ethylene produced 100% from ethanol. The plant is scheduled to begin operations in August and produce 200,000 metric tons of "green plastics" from 470 million liters of etha...>>>
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