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.
Southeast Asia’s oil and gas giant PTT is optimistic that all its frozen petrochemical projects in Mab Ta Phut, save one, will be released from suspension by the courts, a company spokesperson said on Tuesday. The Thai Cabinet is currently assessing the list drafted by the National Environmental Board (NEB) late on Monday, which exempted downstream petrochemical projects among those deemed harmful to the environment. A number of Mab Ta Phut projects were ordered stopped by a Thai court in September 2009 on environmental grounds, invoking Article 67 of the country's constitution. “It (cabinet) should approve what the environmental board said,” said the PTT spokesperson.The Thai Central Administrative Court was expected to decide on Thursday which projects would be subjected to environmental and health impact assessments and which ones would be allowed to start operating, she said. Expected to be released from suspension is PTT’s sixth gas separation plant, along with the three projects of its affiliate PTT Chemical, namely, the 50,000 tonne/year high-density polyethylene (HDPE) expansion, another 250,000 tonne/year HDPE expansion and its 50,000 tonne/year ethanolamine project.
PTT could easily comply with the requirements of conducting a health and environment impact assessment on the projects since the process was underway, the company spokesperson said. “We are going to finish it anyway. It’s going to come between September to November,” she added. PTT Chemical's 95,000 tonne/year monoethylene glycol (MEG) project however, would remain suspended since it falls under the category of “intermediate stream” projects, which are deemed environmentally harmful based on NEB’s list, the spokesperson said. Nonetheless, PTT intended to complete the health and environmental impact assessment of this plant and submit them to the court for appraisal, she added. Asked about PTT’s foregone gains because of the stalled projects, the company spokesperson said: “I don’t have the number in my hand at this moment.” Meanwhile, the Siam Cement Group (SCG), the biggest conglomerate in Thailand, could also heave a sigh of relief with the strong possibility that the suspension at its four projects would be lifted, said Naphat Chantaraserekul, a Bangkok-based analyst at brokerage DBS Vickers.
Internet Headlines
on 23-08-2010 16:17
23 Aug 10 Asia Sept PVC offers to China up $40/t on improved sentiment
20 Aug 10 US ExxonMobil restarts LDPE production in Louisiana
20 Aug 10 Chile Petroquim raises PP plant production to 70% after quake
20 Aug 10 Borealis keeps Schwechat LDPE plant shut, force majeure in place
20 Aug 10 Petro Rabigh defers maintenance turnaround to April-May 2011
LyondellBasell keeps Carrington PP force majeure in place
on 23-08-2010 16:15
Source: ICIS News (13/8)
LyondellBasell has kept in place its declaration of force majeure on supplies of polypropylene (PP) from the company's 210,000 tonne/year plant at Carrington, UK, a LyondellBasell spokesperson confirmed on Monday.
However, the spokesperson was not able to provide any information regarding the status of the plant.
The plant was shut down over the weekend of 7-8 August, it was still not running on 16 August and there has been no update available since that date.
“We have been told that the plant is still down,” said a local buyer.
Another buyer said: “I had my suspicions when the lorry delivering our material had Polish number plates,” implying that its PP was being delivered from LyondellBasell’s alternative PP site at Plock, Poland.
While some producers continued to report a tight PP market in Europe, buyers reported that the situation has eased over the past few weeks.
“All this means is that the market is now balanced, as opposed to long,” said another buyer.
This sentiment was not confirmed by a major producer, however.
“We are still tight and have not given as much as €40/tonne ($51/tonne) away this month,” it said.
PP prices eased alongside the August propylene monomer price, which decreased by €38/tonne from July to €940/tonne FD (free delivered) NWE (northwest Europe).
Net homopolymer PP prices were trading at €1,200-1,250/tonne FD NWE, depending on grade and supplier.
PP buyers have been under heavy pressure to accept price increases throughout 2010, with year-to-date prices having risen by 30%.
Speculation was rife over when new capacities from the Middle East would have an impact on the market, but sources said they expect little change to occur in the short term.
“They should think they’re lucky to have got as far as they have this year so far,” said one observer, referring to producers’ margins in 2010. “We will see a change in quarter four.”
Buying sources said they were now hoping for a reduction in the September propylene contract price, which they expect to be transferred to the PP market.
But most monomer sources, while acknowledging that propylene monomer availability has eased, were not expecting a significant drop in September.
Icis Petro Rabigh eyes restart of PP plant by 26 August
on 23-08-2010 16:14
Source: ICIS News (23/8)
Rabigh Refining and Petrochemical Co (Petro Rabigh) is expected to restart its 700,000 tonne/year polypropylene (PP) plant in Rabigh, Saudi Arabia, by 26 August, a source close to the company said on Monday.
The company had earlier scheduled a restart of the unit by 13 August, but that was postponed. No reasons were given for the delay.
The PP plant was taken off line in early August because of a shortage of feedstock propylene, on the back of an outage at the company’s fluid catalytic cracker (FCC).
“The company will restart the FCC unit first and then the PP plant,” said the source.
The unplanned shutdown of the PP plant had tightened the product’s supply in the Middle East market, said traders.
Petro Rabigh has a total installed propylene capacity of 900,000 tonnes/year.
The propylene and PP units are part of the company’s cracker complex at Rabigh, on Saudi Arabia’s western coast.
The complex also houses a 1.3m tonne/year ethane cracker, a 300,000 tonne/year high density polyethylene (HDPE) line, a 600,000 tonne/year linear low density polyethylene (LLDPE) line and a 700,000 tonne/year monoethylene glycol (MEG) plant.
Internet Headlines
on 17-08-2010 07:48
Source: Internet (17/8)
ExxonMobil restarts Singapore 600,000 tonnes/year PE unit
Mitsui Chemicals to expand Chiba mLLDPE line in Oct-Nov
RSS 2.0 Feed