is a global distribution & trading company in plastic raw materials with offices and operations in Europe, Middle East, Africa and Asia. The network structure enables each individual branch to operate in line with the latest short-term trends within world and regional markets.
NCT's strategy is to generate added value to the chain between producers and end-users of commodity polymers. NCT is an ISO Certified Company who trades in polyolefin’s, polystyrene, pet, pvc and other plastic raw materials.
SE Asian ethylene prices hit three-month high on cracker woes
on 26-08-2010 09:47
source: Icis (26/8)
Ethylene spot prices climbed to a three-month high of $1,000/tonne (€790/tonne) in southeast Asia amid a scramble for spot material following cracker outages this week, market sources said on Thursday. A deal for a 3,000-tonne cargo loading first half September was reported at $1,000/tonne FOB (free on board) southeast (SE) Asia mid-week while bids to purchase more September shipments were mentioned in the mid to high $900s/tonne FOB SE Asia. “Because of the cracker troubles, supply is getting shorter,” said an olefins trader based in Japan. Market sources said Shell had shut its 800,000 tonne/year mixed feed cracker in Singapore early this week due to unspecified issues, and the producer could be in the market to buy some ethylene spot cargoes to cover contractual obligations.
It was not immediately clear if the plant had restarted but operations had not been stable this month, they added. A company spokesman had earlier declined to comment on operational matters. Separately, Japan's Mitsui Chemicals shut its 617,000 tonne/year naphtha cracker in Ichihara, Chiba prefecture, on Thursday due to mechanical issues. It was not clear if the Japanese producer would need to buy ethylene from the spot market as the duration of the unplanned outage had yet to be confirmed, market sources said. The cracker outages are also likely to exacerbate the already tight supply situation in northeast (NE) Asia. Selling ideas remained above $1,000/tonne CFR (cost and freight) NE Asia, with discussions underway in the region, sources added.
Shell Chemicals successfully completes first turnaround at Nanhai, its JV with CNOOC
on 25-08-2010 10:01
source: Plastemart (25/8)
Shell Chemicals announced the successful first turnaround at the CSPCL - "Nanhai" petrochemicals joint venture complex in Guangdong, China. Nanhai is a joint venture with China National Offshore Oil Company (CNOOC). The turnaround was completed while simultaneously carrying out the debottlenecking of an ethylene cracker and process units. Both were finished ahead of time and within budget. Debottlenecking the ethylene cracker, ethylene oxide/ethylene glycols, and styrene monomer/propylene oxide process units will improve the site's competiveness by increasing capacity and reducing unit costs. After the debottlenecking, the annual ethylene capacity went from 800 kilotonnes per annum to 950 ktpa, with total petrochemical production capacity at the plant increasing from 2.3 million tons to 2.7 million tons.
"Executing a turnaround and simultaneous debottlenecking project on this scale, within budget and on time is impressive and highlights the robust working partnership between Shell and CNOOC," said Ben van Beurden, Executive Vice President, Shell Chemicals. "The decision to increase capacity at Nanhai supports the Shell strategy to grow selectively and to continue to remain a leader in the expanding Asian petrochemicals market." The debottlenecking project included construction of an eighth liquid cracking furnace for light and heavy feedstock. Four out of five derivative plants were debottlenecked by 10% to 30%. The planned turnaround took place in March and April this year. In addition to a broad range of planned maintenance activities, more than 1,000 pressure vessels were opened for statutory inspections. The project also included significant instrumentation work. The CNOOC and Shell Petrochemicals Company Limited (CSPCL) is 50% owned by Shell Nanhai BV, a Shell company, and 50% owned by the CNOOC Petrochemicals Investment Company Limited. It began operations in January 2006 and supplies products primarily to Guangdong and the high consumption areas of China’s southeast coastal economic zones.
Reduced September polyethylene production in Qatar to impact Asian markets
on 25-08-2010 10:00
source: Plastemart (25/8)
Qatar's production of polyethylene for September shipments is expected to be down, as per Platts. This reduction in low density polyethylene allocation from Qatar Petrochemical Company (Qapco) in September, is expected to increase tightness in Asia. PE from Qapco and Qatofin from both companies has been reduced this month. Reduction of ethylene feedstock from the Ras Laffan Olefins (RLOC) ethane cracker since August has affected supply of LLDPE from Qatar. The Ras Laffan cracker supplies feedstock ethylene to the PE lines in Mesaieed via a pipeline. LDPE supply is also tight, as apparent with Qapco’s lesser than normal LDPE allocation for September shipments. RLOC’s 1.3 mln tpa ethane cracker has reduced operating rates until the middle of 2011 due to a technical issue. Qatofin runs a 450,000 tpa LLDPE at Mesaieed, while Qapco has two LDPE lines with a combined capacity of 360,000 tpa. Production in the Middle East during the summer months is generally lower due to the high heat affecting the plants.
Honam Petrochemical to pay US$1.25 bln in cash to acquire Titan Chemicals
on 25-08-2010 09:57
source: Plastemart (25/8)
South Korea’s Honam Petrochemical will pay about US$1.25 bln in cash to acquire Titan Chemicals Corporation, as per Plasteurope. Following an initial takeover of 72.6% of the shares held by Titan head and the state-run Permoladan Nasional, Honam plans to squeeze out the remaining shareholders. The takeover propels Honam, the petrochemical division of Korea’s Lotte Group into the league of leading Asian ethylene manufacturers. The company’s C2 capacity, currently at 1.75 mln tpa will rise to about 2.5 mln tpa as a result, while revenues are expected to increase to EUR 8 bln.
Titan is considered to be Malaysia’s largest olefin and polyolefin manufacturer. Since its 2006 takeover of Indonesian polyethylene producer PT Petrokimia Nusantara (PT Peni, Jakarta), the Malay company is widely believed to be South East Asia’s second-largest polyolefin manufacturer. Titan operates 10 plants at its Malay production sites in Pasir Gudang and Tanjung Langsat, as well as in Indonesia. Company sales last amounted to US$ 1.64 bln. All in all, Titan has capacities for 1 mln tpa of PE, 480,000 tpa of PP, 100,000 tpa of butadiene and 38,000 tpa of BOPP film.
Internet headlines only
on 25-08-2010 09:55
source: Icis (25/8)
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