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Market Comment: PNG awards October LNG tender

Sat, 25 Aug 2114 10:00:00 GMT

Power companies and traders in the Asia-Pacific market were awaiting confirmation of the results of the Papua New Guinea (PNG) LNG tender. The results...

Market comment: Force majeure continues at Nigeria LNG

Mon, 06 Feb 2040 06:28:15 GMT

The force majeure on feedgas supplies to Nigeria LNG (NLNG) remains in place, a Shell spokesman said on 12 February, adding there is "no timescale for how...

Malaysia’s Lotte Chemical Titan buys 25,000 tonnes naphtha for Aug

Fri, 10 Jul 2015 09:39:07 GMT

SINGAPORE (ICIS)--Malaysia’s Lotte Chemical Titan has bought by tender a 25,000-tonne full-range naphtha cargo for delivery to Pasir Gudang in the second half of August, traders said on Friday. The deal of the cargo was concluded in the range of minus $11-12/tonne to CFR (cost freight) Japan quotes, they added. In its previous tender, the company bought 25,000 tonnes of full-range naphtha for the first-half August delivery, at a slight discount in the low single-digit pool over CFR Japan quotes.

S Korea’s Hanwha Total buys 25,000 tonnes naphtha

Fri, 10 Jul 2015 09:25:00 GMT

SINGAPORE (ICIS)--South Korea’s Hanwha Total has bought a 25,000-tonne naphtha cargo for delivery in the second half of August, traders said on Friday. The deal for the cargo was concluded at a discount of $4.00-5.00/tonne to CFR (cost and freight) Japan quotes, they said. Demand was dull in the region amidst swelling deep-sea imports, the traders said.

Taiwan’s CPC buys 70,000 tonnes of naphtha for August

Fri, 10 Jul 2015 09:16:00 GMT

SINGAPORE (ICIS)--Taiwan’s CPC Corp has bought by tender 70,000 tonnes of full-range naphtha for delivery to Kaohsiung on 1-25 August, traders said on Friday. The deal for the cargoes was done at a discount of $4.50-5.00/tonne to CFR (cost freight) Japan quotes, they said. CPC previously bought two to three cargoes of full-range naphtha supply for delivery to Kaohsiung on 1-20 July. Each cargo is of 35,000 tonnes. The deal for the cargoes was done at a discount of $2/tonne to CFR Japan quotes.

CEPSA Chemical (Shanghai) to shut phenol/acetone unit on 13 July

Fri, 10 Jul 2015 09:13:00 GMT

(recasts para four for clarity) MELBOURNE (ICIS)--China’s CEPSA Chemical (Shanghai) plans to shut down its phenol/acetone plant in Shanghai on 13 July, a source close to the company said on Friday. Commercial operations at the plant, which can produce 250,000 tonnes/year of phenol and 150,000 tonnes/year of acetone, began in March. The producer is taking the plant off line for about 10 days, in part to counter the weak market conditions in China. The producer will also undertake preparations for the start-up of its 360,000 tonne/year upstream cumene plant, the source said. CEPSA plans to begin the start-up of its cumene plant in early August. However, production of cumene is expected to begin only in early September, the source added. CEPSA Chemical (Shanghai) is 75% owned by Spanish producer CEPSA Quimica and 25% owned by Japan’s Sumitomo Corp.

Japan’s Asahi Kasei boosts styrenic thermoplastic elastomer output

Fri, 10 Jul 2015 03:53:00 GMT

SINGAPORE (ICIS)--Japan’s Asahi Kasei will ramp up production of hydrogenated styrenic thermoplastic elastomer (SEBS) at its Kawasaki Works plant in Kanagawa prefecture by 30%, the company said on Friday. The increased production capacity is scheduled for start-up in June 2016, Asahi Kasei said in a statement. The statement did not reveal the current production capacity of the SEBS plant. “To meet growing demand, Asahi Kasei Chemicals increased production capacity for SEBS at its Kawasaki Works by 20% this spring. As continued demand growth is forecasted, the company decided to further increase production capacity by 30%,” the company said. SEBS is a type of hydrogenated elastomer used as a plastic modifier in a wide range of applications including plastic modification and adhesives. Demand growth for the chemical has been centred mainly in Europe and China in recent years, Asah

Japan’s Idemitsu Kosan runs Tokuyama cracker at reduced rates

Fri, 10 Jul 2015 03:31:02 GMT

SINGAPORE (ICIS)--Japan’s Idemitsu Kosan is currently operating its 623,000 tonne/year Tokuyama cracker at a reduced rate of below 90% to resolve a minor technical issue, down from full capacity operations previously, a source close to the company said on Friday. The company has been gradually decreasing its cracker operating rates this week and expects to recover full capacity operations by around the middle of next week, the source said. The nature of the problem was not identified.

US May acrylic acid imports down sharply year on year

Fri, 10 Jul 2015 03:15:00 GMT

HOUSTON (ICIS)--US acrylic acid imports practically evaporated in May from the same month one year earlier, falling to 249 tonnes from 3,833 tonnes in May 2014, according to US International Trade Commission (ITC) data made available this week. The sharp drop off in year-on-year imports reflected an oversupplied domestic market even as weakening propylene values softened acrylates prices despite a consensus that demand was improved from the year-ago period but not robust. The decline stemmed principally from Malaysia and Belgium, which shipped no material here in May although the US took 1,977 tonnes and 1,001 tonnes, respectively, from those countries one year ago. On a month-on-month basis, May imports dropped even more severely, down from 7,104 tonnes in April. Meanwhile, exports were down by 44% overall at 3,810 tonnes in May versus 6,806 tonnes one year ago. Material was shipped primarily to M

Melamine duties lower imports, raise prices

Thu, 09 Jul 2015 18:29:00 GMT

HOUSTON (ICIS)--US melamine prices have continued to rise and import volumes have continued to fall after two rounds of preliminary duties were imposed on material imported from China and the two-island Caribbean state Trinidad and Tobago. But new suppliers to the US market are stepping in and helping to offset upward price pressure via a stronger dollar and higher prices commanded in the US after four straight quarters of price increase. US melamine contracts for the third quarter this week settled at an assessed 3 cents/lb higher from the second quarter wit

US PET imports down 12% in May

Thu, 09 Jul 2015 16:51:00 GMT

HOUSTON (ICIS)--US polyethylene terephthalate (PET) imports fell 12% year on year for May, according to data released this week by the US International Trade Commission (ITC). PET imports fell to 47,767 tonnes in May 2015 from 54,208 tonnes in May 2014. Nearly half of the imports came from the four countries being investigated by the ITC for anti-dumping: Canada, India, China and Oman. A total of 22,546 tonnes of material came from those countries. Those countries have been named in an anti-dumping petition by DAK Americas, MG Chemicals and Nan Ya Plastics. The case has been sent to the US Department of Commerce for further investigation. PET exports were essentially flat, rising a little more than 1% year on year for May. Countries that saw the largest amount of US material were Canada, Mexico, Netherlands and China. Major US PET suppliers are DAK Americas, MG Chemicals and Nan Ya Plastics. PET imports

US melamine imports plummet 63% in May

Thu, 09 Jul 2015 16:28:00 GMT

HOUSTON (ICIS)--US melamine exports in May fell 15% from April and were down 63% from May, 2014, according to data from the International Trade Commission (ITC) made available this week. The declining imports come after preliminary anti-dumping and other duties were assessed by US trade regulators against melamine from China and the two-island state of Trinidad and Tobago, the top foreign suppliers to the US in 2014. The added customs duties have made material from those regions uneconomic in the US market, according to market participants. Only top-gap levels continue to trickle in from producers in those regions. Imports of melamine are down 30% for the first five months of 2015, compared with the same period in 2014. No material arrived from Trinidad during the month, according to the ITC data. Producers in Europe and Japan have moved in to gather some of the slack. Meanwhil

First Nations files suit over regulatory review of Canadian LNG exports

Thu, 09 Jul 2015 16:24:08 GMT

The Canadian provincial government is preparing to finalise brokered regulatory agreement terms to placate Malaysia’s PETRONAS and encourage a final investment...

GLM market report: Fine balance as Argentina reappears

Thu, 09 Jul 2015 16:15:28 GMT

Argentina's latest buy tender breathed life into the South American market. Weak demand from east Asian buyers is still offset by new entrants with traders ready to pay a bit more to secure needed cargoes

Asahi Kasei to build new plant for nonwoven fabrics in Japan

Thu, 09 Jul 2015 14:22:00 GMT

LONDON (ICIS)--Asahi Kasei Fibers plans to build a new production facility for its Bemliese-brand cellulose nonwoven fabric in Nobeoka, Miyazaki, Japan, the Japan-based producer said on Thursday. The 1,500 tonne/year plant will be built at the site of a former polyester plant. Construction is expected to begin in December, with start-up of production scheduled for March 2017. Details about expected costs were not disclosed. Bemliese is described as "the world’s only continuous-filament cellulose nonwoven fabric." It is composed of regenerated cellulose fibre made from cotton linter, the short fibres on cotton seeds. It is used in a range of applications, including the skincare and medical fields, as wipers for industrial and commercial use, in landscaping, and in beverage filtration.

EVENING SNAPSHOT Asia Markets Summary

Thu, 09 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Thursday's end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI: $52.42/bbl, up 77 cents/bbl; Aug BRENT: $57.66/bbl, up 61 cents/bbl Crude prices continued to trade above the previous session close, supported by a recovery in China’s equity markets following government intervention after recent sharp declines. However, oversupply worries remain with US government data revealing unexpected builds in crude and distillate stocks. NAPHTHA: $496.50-498.50/tonne CFR Japan, up $2.50-3.50/tonne Second-half August open-spec naphtha prices extended gains in afternoon trade, following a second-half September deal at $498.00/tonne CFR Japan. BENZENE: $750-763/tonne FOB Korea, up $5-10/tonne Prices firmed slightly while the overall market sentiment continued to improve, especially in the Chinese domestic market. A September fixture

Asia naphtha rebounds to $497.50/tonne CFR Japan

Thu, 09 Jul 2015 10:32:00 GMT

Second-half August open-spec naphtha prices rebounded to $496.50-498.50/tonne CFR Japan, stemming losses from the previous session after a second-half September deal was done at $498.00/tonne CFR Japan.

Asia naphtha spreads to deepen in contango on supply glut

Thu, 09 Jul 2015 10:03:00 GMT

Focus article by Felicia Loo SINGAPORE (ICIS)--Asia’s naphtha intermonth price spreads are expected to deepen into the negative territory amid a burgeoning pool of deep-sea supply and dismal petrochemical demand in the region, traders said on Thursday. Open-spec prices for second-half August plummeted to $488.00-490.00/tonne CFR (cost freight) Japan on 8 July, down by $16.50/tonne from the previous day, according to ICIS data. The intermonth spread between the second-half August and the second-half September contracts slumped into a contango for the first time since 16 January. The intermonth spread slipped to minus 50 cents/tonne on 8 July versus a backwardation of 50 cents/tonne on 7 July, the data indicated. Over the same period, the front-month August naphtha crack spread against Brent crude futures slumped to a near six-month low of $67.50/tonne, the data showed.

LNG cargo availability in Asia tightens

Thu, 09 Jul 2015 10:00:00 GMT

While end-buyer demand in northeast Asia has largely come to a standstill for deliveries over the course of August and September, market participants said...

Asia BD plummets as buyers retreat on China concerns

Thu, 09 Jul 2015 07:08:00 GMT

SINGAPORE (ICIS)--Spot butadiene (BD) prices in Asia plummeted this week and may remain under pressure on easing tight supply conditions and bearish sentiment stemming from China’s stock market turmoil, market sources said on Thursday. “BD spot offers are now falling quickly and we expect prices to drop below $1,300/tonne CFR (cost and freight) northeast (NE) Asia soon as naphtha prices have dropped,” a downstream synthetic rubber producer said. Earlier in the week, spot offers were quoted at $1,350/tonne CFR NE Asia, down $70/tonne from the previous week, taking the cue from sharp declines in crude oil and naphtha prices, market sources said. Naphtha prices in Asia stood at $488.00-490.00/tonne CFR (cost and freight) Japan at the close of trade on 8

NOON SNAPSHOT Asia Markets Summary

Thu, 09 Jul 2015 05:00:00 GMT

SINGAPORE (ICIS)--Here is Thursday's midday Asia oil and chemical markets summary. CRUDE: Aug WTI: $52.34/bbl, up 69 cents/bbl; Aug BRENT: $57.73/bbl, up 68 cents/bbl Crude prices climbed on Thursday morning supported by a weaker US dollar and a recovery in China’s equity markets. China’s equity markets rallied following the introduction of government measures to prevent further falls in share prices after recent sharp declines. NAPHTHA: $493-496/tonne CFR Japan, up $5-6/tonne Second-half August open-spec naphtha prices rebounded on broadly stable crude futures, stemming losses the previous session. BENZENE: $745-753/tonne FOB Korea, up $25/tonne Prices firmed due to slightly higher crude values and improved market sentiments as the Chinese stock market rebounded. However, market discussions were thin with only September numbers heard. Most recen

Spot August offers to Asia limited as Pacific's LNG supply tightens

Thu, 09 Jul 2015 04:59:43 GMT

There has been a limited number of firm offers being made to the Asia-Pacific market, despite several buyers having expressed their interest in procuring...

Japan's Asahi Kasei builds new cellulose non-woven fabric plant

Thu, 09 Jul 2015 03:26:00 GMT

SINGAPORE (ICIS)--Asahi Kasei is building a new cellulose non-woven fabric production facility in Miyazaki, Japan, that is expected to start up in March 2017, the Japanese producer said on Thursday. Investment details were not disclosed. The plant will produce the firm’s Bemliese cellulose non-woven fabric and will have about 1,500 tonnes/year of capacity, it said in a statement. Construction of the facility is expected to start in December this year, the firm said. Bemliese is composed of regenerated cellulose fibre made from cotton linter, the short fibres on cotton seeds. It has strong demand growth in skincare applications, the company said.

US May MEK imports plummet by 65% year on year

Wed, 08 Jul 2015 23:17:00 GMT

HOUSTON (ICIS)--May imports of US methyl ethyl ketone (MEK) fell by 65% year on year, according to data made available this week by the US International Trade Commission (ITC). The decrease was largely because of fewer shipments from South Africa, the UK and The Netherlands. The UK is the largest origin of MEK year to date at 22,473 tonnes, and The Netherlands is the fourth largest with 7,853 tonnes exported to the US through the first four months of 2015. However, neither nation shipped any MEK to the US in May, according to the ITC data. Cargoes from China, Taiwan and Brazil increased in May from the same month last year. Year to date, MEK imports were 10% higher. Meanwhile, exports of MEK plummeted 93% year on year, largely on less material shipped to Mexico. Cargoes to Mexico – year to date the top destination by far for MEK – fell by 98% in May from the same month last year, and are down 49% for the year. Shipments to Canada fell

US May benzene imports down by 7.2%, exports down by 45%

Wed, 08 Jul 2015 22:32:00 GMT

HOUSTON (ICIS)--US benzene imports for May were down by 7.2% from the same month last year, while exports were up by 45%, according to data made available this week by the US International Trade Commission (ITC). The decline of imports was the result of fewer volumes received from South Korea, Saudi Arabia and Canada, which offset increases in cargoes from Japan, Venezuela and Brazil. Imports were down by 22% from April, when a combination of increased imports and reduced domestic uptake lengthened the US benzene market and pushed prices down. Year to date, US benzene imports are down 7.0% as arbitrage from Asia has been closed for much of the first half of the year. The decline of exports was largely the result of fewer volumes shipped to Canada, which offset increases in volumes shipped to Spain and Germany. Low U

US May IPA exports up by 63% year on year

Wed, 08 Jul 2015 20:17:00 GMT

HOUSTON (ICIS)-- US May isopropanol (IPA) exports were up by 63% year on year, according to data provided this week by the US International Trade Commission (ITC). The increase was largely because of material shipped to Belgium, which received no IPA in May of last year, and shipments to Mexico, which almost doubled year on year. The increased cargoes to Belgium and Mexico more than offset decreases in shipments to Canada, Brazil and destinations not listed individually in the ITC report. Year to date, exports were down by 11%. May imports of IPA were 33% higher year on year, almost entirely on increased cargoes from Canada. More than 97% of the IPA imported in May came from Canada, as well as 82% of the material brought into the US year to date. Imports of IPA were 19% higher year to date, largely from increased cargoes from The Netherlands, Germany and countries not listed individually in the report. The US is a net exporter of IPA.<

US May toluene exports down 57%, imports down 26%

Wed, 08 Jul 2015 18:57:00 GMT

HOUSTON (ICIS)--US toluene exports for May were down by 57% from the same month a year prior, while imports were down 26%, according to data made available this week by the US International Trade Commission (ITC). The drop in exports was the result of fewer volumes shipped to Canada in May, during a time when the US toluene market was tightened as values rose steadily throughout the month in the wake of an explosion at an Asian aromatics plant. Exports, however, did increase significantly in May to South Korea, where mechanical issues cut operating rates at one aromatics plant and feedstock issues cut operating rates at another. Month on month, exports were down by 9.4%. Year to date, exports were down by 1.4% The decline of imports was the result of fewer volumes shipped from countries not listed among the

US May TDI exports decline by 16% year on year

Wed, 08 Jul 2015 17:37:00 GMT

HOUSTON (ICIS)--US exports of mixtures of 2,4- and 2,6-toluene di-isocyanates (TDI) in May 2015 were down by 16% from May 2014, according to data made available by the US International Trade Commission (ITC) this week. Month on month, exports dropped by 2.9% in May from April 2015, the ITC said. Through May, exports decreased by 4% from the first five months of 2014, according to the ITC. The decline from 2014 to 2015 was a result of smaller volumes being shipped this year to Mexico, C

Amec wins work for grassroots refining-petchem complex in Malaysia

Wed, 08 Jul 2015 14:35:00 GMT

LONDON (ICIS)--Amec Foster Wheeler has won a contract to conduct a feasibility study for a proposed refining and petrochemicals complex in Malaysia’s Kedah state, the international energy and petrochemicals engineer said on Wednesday. The contract was awarded by a group of firms that includes Malaysia’s SKS Corporation, Petromin of Saudi Arabia, Ocenia of Japan, and another Asian partner firm. Under the deal, Amec will undertake a detailed feasibility study to define the configuration of the complex, develop infrastructure requirements, establish a project implementation plan and produce a cost estimate, it said. The proposed project would support SKS’s aim to boost investment in the Malaysian economy and to “develop the region as a world class supplier of refinery and petrochemical products to South East Asia,” Amec added. Details about expected costs, capacities or timel

EVENING SNAPSHOT Asia Markets Summary

Wed, 08 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Wednesday’s end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI $52.32/bbl, down 1 cent/bbl; Aug BRENT $56.94/bbl, up 9 cents/bbl Crude prices regained ground lost earlier in the day, with Brent futures climbing above the previous session’s close. However, the market remained volatile amid continued worries over the Greek debt crisis and falls in China’s stock market. NAPHTHA: $488.00-490.00/tonne CFR Japan, down $13.50-14.50/tonne Second-half August open-spec naphtha prices spiraled down amid burgeoning supply and tepid demand. The front-month spread between the second-half August and second-half September contracts slipped into a contango for the first time since 16 January to minus 50 cents/tonne from a backwardation of 50 cents/tonne a day ago. BENZENE: $720-728/tonne FOB K

Japan’s Kyushu starting up Sendai nuclear reactor

Wed, 08 Jul 2015 10:33:55 GMT

Japanese utility Kyushu Electric has inserted fuel rods at its No 1 reactor at the Sendai nuclear power plant and will start power production in mid-August,...

Japan's ethylene output rises by 3% in June

Wed, 08 Jul 2015 08:55:00 GMT

TOKYO (ICIS)--Japan’s ethylene production increased by 3% year on year to 497,300 tonnes in June, official government figures showed on Wednesday. This is, however, a 6.4% decrease from the previous month, according to the Ministry of Economy, Trade and Industry (METI). One naphtha cracker was shut for scheduled maintenance in June, while three crackers were shut in the corresponding period the previous year, the data showed. One cracker was undergoing a turnaround in May, according to the METI.

NOON SNAPSHOT Asia Markets Summary

Wed, 08 Jul 2015 05:00:00 GMT

(recasts benzene text) SINGAPORE (ICIS)--Here is Wednesday’s midday Asia oil and chemical markets summary. CRUDE: Aug WTI $52.00/bbl, down $0.33/bbl Aug BRENT $56.55/bbl, down $0.30/bbl Crude prices edged lower on Wednesday morning amid continued worries over the Greek debt crisis and falls in China’s stock market. However, downside limited by a larger than expected fall in US crude stocks revealed in industry data. NAPHTHA: $501.50-504.50/tonne CFR Japan, down $2-3/tonne Second-half August open-spec naphtha prices weakened on lower crude futures. BENZENE: $752-757/tonne FOB Korea, up $8-13/tonne Morning discussions opened firmer despite lower energy values due to open arbitrage to the U.S. A September deal was done at $750/tonne FOB Korea. September bids and offers were at $748/tonne FOB Korea and $753/tonne FOB Korea, while October offers were last heard at $750/tonne FOB Korea. August-S

Japan’s Nissan Chemical shuts melamine plant for maintenance

Wed, 08 Jul 2015 04:17:00 GMT

SINGAPORE (ICIS)--Japan’s Nissan Chemical Industries has shut its 50,000 tonne/year melamine plant for annual maintenance on 3 July, a company source said on Wednesday. The plant located in Toyama prefecture will be taken offline for 40 days, the source said. The shutdown is not expected to have a significant impact on the market as the company has already built inventory for its contract customers, the source added.

Lower physical coal prices push down swaps contracts

Tue, 07 Jul 2015 19:36:26 GMT

Coal swaps prices continued a second consecutive session of price drops this week pressured by lower physical coal prices and ongoing bearish market sentiment. The...

Asia naphtha slumps to near four-month low

Tue, 07 Jul 2015 11:51:00 GMT

SINGAPORE (ICIS)--Asia’s benchmark naphtha prices slumped on Tuesday to their weakest level in almost four months. Second-half August open-spec naphtha prices declined by $19.50/tonne to $504.50-506.50/tonne CFR Japan amid overall hefty losses in crude futures overnight, according to ICIS data. Prices are currently at their lowest since 18 March, when prices closed at $497-499/tonne CFR Japan, the data showed. In late afternoon trade in Asia, Brent crude futures were higher after shedding more than $5/bbl in the previous session. Meanwhile, crude prices made further gains after sharp falls in the previous session. However, with concerns growing over Greece and further falls in China’s stock market, it was uncertain that the rally in naphtha prices could be sustained. Fundamentally, the Asian naphtha market was mired in bloated deep-sea supply from the West, amid tepid

S Korea’s LG Chem buys 50,000 tonnes naphtha for H2 Aug

Tue, 07 Jul 2015 11:15:00 GMT

SINGAPORE (ICIS)--South Korea’s LG Chem has bought 50,000 tonnes of naphtha for delivery in the second half of August, traders said on Tuesday. The deal for the cargoes was done at a discount of $1.50/tonne to CFR (cost freight) Japan quotes, they added. LG previously bought 25,000 tonnes of naphtha at a premium of $0.25/tonne to CFR Japan quotes, for delivery in the first half of August.

EVENING SNAPSHOT Asia Markets Summary

Tue, 07 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Tuesday's end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI: $53.19/bbl, up 66 cents/bbl; Aug BRENT: $57.46/bbl, up 92 cents/bbl Crude prices made further gains after sharp falls in the previous session. However, with concerns growing over Greece and further falls in China’s stock market, it was uncertain that the rally in prices could be sustained. NAPHTHA: $504.50-506.50/tonne CFR Japan, up $0.50-1.50/tonne Second-half August open-spec naphtha prices pared earlier hefty losses in afternoon trade in tandem with crude futures. BENZENE: $739-749/tonne FOB Korea, down $4/tonne September deals were concluded at $740/tonne FOB Korea and $730/tonne FOB Korea. Bids rose from $735-739/tonne FOB Korea for August with no offers. September bids were at $730-736/tonne FOB Korea, while October bids were at $735/tonne FOB Kor

Chilean sulphuric acid imports down 4% year on year in Jan-May

Tue, 07 Jul 2015 10:50:00 GMT

LONDON (ICIS)--The cumulative total for Chilean sulphuric acid imports slipped 4% lower during January to May 2015, compared to the same period last year, Chilean customs data showed on Tuesday. The slight drop in import volumes is in line with recent sluggish demand following floods in the north of the country which put the transportation networks under strain. During May 2015, Peru delivered 112,168 tonnes, while Japan delivered 35,908 tonnes. South Korea, Mexico and Spain all delivered around one to two cargoes each. Chile sulphuric acid import data - Year to date: January-May 2015 (tonnes) Country (2015 % share) 2015 2014

Asia naphtha slumps to $505.50/tonne CFR Japan

Tue, 07 Jul 2015 10:31:00 GMT

Second-half August open-spec naphtha prices declined to $504.50-506.50/tonne CFR Japan amid overall losses in crude futures.

Taiwan’s FIPC shuts PC plant for maintenance

Tue, 07 Jul 2015 10:06:34 GMT

SINGAPORE (ICIS)--Taiwan’s Formosa Idemitsu Petrochemical (FIPC) shut around 6 July its polycarbonate (PC) plant located in Mailiao for scheduled maintenance, a source close to the company said on Tuesday. The turnaround of the PC plant, which has three lines with a combined nameplate capacity of 195,000 tonne/year, is expected to last for about three weeks, the source said. FIPC is a joint venture between Formosa Chemicals Fibre Corp (FCFC) and Japan’s Idemitsu Kosan Co.

Japan's Kyushu Electric announces mid-Aug restart for Sendai nuclear power plant

Tue, 07 Jul 2015 05:00:00 GMT

Japanese utility Kyushu Electric will restart the No 1 reactor at its Sendai nuclear power plant in mid-August, the company said in a press release. Kyushu...

NOON SNAPSHOT Asia Markets Summary

Tue, 07 Jul 2015 05:00:00 GMT

SINGAPORE (ICIS)--Here is Tuesday's midday Asia oil and chemical markets summary. CRUDE: Aug WTI: $53.02/bbl, up 49 cents/bbl; Aug BRENT: $57.17/bbl, up 63 cents/bbl Crude prices strengthened following a sharp fall in the previous session. The price decline on Monday was triggered by heightened concerns over the future of Greece and the Euro after the No vote in the Greek debt repayment referendum held over the weekend. Worries over China’s stock market also weighed on prices. NAPHTHA: $503-506/tonne CFR Japan, down $20-21/tonne CFR Japan Second-half August open-spec naphtha prices spiralled down on overnight crude losses. BENZENE: $743-753/tonne FOB Korea, down $15/tonne Prices softened with sharp falls in US prices after returning from holidays, while crude prices fell further. September offers were at $750-755/tonne FOB Korea, against bids at $735-7

PNG LNG issues one-cargo tender for September delivery

Mon, 06 Jul 2015 17:23:24 GMT

The 6.9mtpa PNG LNG project in Papua New Guinea has issued a tender for one cargo for delivery on 4-5 September, according to traders in Europe and Asia. Deadline...

Japan's production of plastic feedstocks increases 1.8% in May

Mon, 06 Jul 2015 16:09:00 GMT

TOKYO (ICIS)--Japan’s production of plastic feedstocks increased by 1.8% year on year to 794,600 tonnes in May, official industry data showed on Monday. Among the total, output of methyl methacrylates (MMA) rose by 2% to 13,809 tonnes from the same time a year earlier, but production of polyvinyl alcohol (PVOH) fell by 6.2% to 19,325 tonnes, according to the Japan Plastics Industry Federation (JPIF). The country produced 12,458 tonnes of foamed polyurethane (PU), down by 20% year on year, while output of phenol resins decreased by 7.7% to 20,883 tonnes, the data showed. Japan’s production of plastic products declined by 5.2% year on year to 407,600 tonnes in May, according to the JPIF. Among the total, output of film and sheet fell by 3.5% to 193,673 tonnes from the corresponding period the previous year, while production of construction materials was down by 13% to 22,551 tonnes,

Japan's ethylene exports decease 3.6% in May

Mon, 06 Jul 2015 15:58:00 GMT

TOKYO (ICIS)--Japan’s exports of ethylene decreased by 3.6% year on year to 71,916 tonnes in May, official government data showed on Monday. Its ethylene-equivalent exports, which include ethylene contained in exported derivative products, however, increased by 19% to 216,000 tonnes from the same period a year earlier, according to the Ministry of Economy, Trade and Industry (METI). Exports of low-density polyethylene (LDPE) increased by 26% year on year to 13,767 tonnes, with exports of high-density polyethylene (HDPE) up by 5.4% to 10,945 tonnes, based on the data. The country exported 93,313 tonnes of styrene monomer (SM), a 9.1% decrease from the same time the previous year, while exports of polystyrene (PS) stood at 3,305 tonnes, a 24% decrease, the statistics showed. Meanwhile, Japan’s ethylene-equivalent imports rose by 18% year on year to 52,600 tonnes in May, according to

Limited spot LNG activity seen in northeast Asia

Mon, 06 Jul 2015 11:14:44 GMT

The LNG spot market in northeast Asia is nearly devoid of end-users, although European portfolio companies were still heard to be searching for cargoes for...

EVENING SNAPSHOT Asia Markets Summary

Mon, 06 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Monday’s end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI $54.52/bbl, down $2.41/bbl; Aug BRENT $58.98/bbl, down $1.34/bbl Crude prices fell sharply amid concerns over Greece following the “no” vote in the debt repayment referendum held over the weekend. Further downward pressure was generated by oversupply concerns amid high levels of production in the US, Russia and OPEC. China also introduced emergency measures to halt the fall in its stock market. The price change for WTI is against the close on 2 July due to the US public holiday on 3 July. NAPHTHA: $524.00-526.00/tonne CFR Japan, down $1.50-2.50/tonne Second-half August open-spec naphtha prices extended losses, undermined by falling crude futures. BENZENE: $758-768/tonne FOB Korea, down $1

Asia naphtha declines to $525/tonne CFR Japan

Mon, 06 Jul 2015 10:31:00 GMT

Second-half August open-spec naphtha was assessed weaker at $524-526/tonne CFR Japan, undermined by falling crude futures.

Japan's Toyo awarded synthetic rubber plant project in Indonesia

Mon, 06 Jul 2015 08:23:00 GMT

SINGAPORE (ICIS)--Toyo Engineering Corp and Indonesia’s Inti Karya Persada Tehnik have been awarded a contract by Synthetic Rubber Indonesia (SRI) for a new 120,000 tonnes/year synthetic rubber plant in Cilegon, Indonesia, the Japanese firm said on Monday. The synthetic rubber plant is expected to be completed in 2018 and will produce solution styrene butadiene rubber (SSBR) as well as polybutadiene rubber (PBR) with neodymium catalyst licensed by Michelin, Toyo said in a statement. The plant will utilise butadiene (BD) feedstock produced by Petrokimia Butadiene Indonesia, a subsidiary of Indonesia’s Chandra Asri Petrochemical. Toyo has entered into an offshore supply contract while Karya Persada Tehnik separately entered into a detailed engineering, procurement and construction contract with SRI. “The Indonesian market, with a population of about 240m and rapid economic growth, offers expanding demand for tyres along with increasing of automotive and

NOON SNAPSHOT Asia Markets Summary

Mon, 06 Jul 2015 05:00:00 GMT

SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical markets summary. CRUDE: Aug WTI $54.98/bbl, down $1.95/bbl; Aug BRENT $59.78/bbl, down 54 cents/bbl Crude oil prices fell sharply in early Asian trade after Greek voters rejected demands by international creditors for more austerity measures in return for bailout money. US crude movement was computed from 2 July as the US market was closed for a public holiday on 3 July. NAPHTHA: $525.50-528.50/tonne CFR Japan, down $16.50-17.50/tonne Second-half August open-spec naphtha prices fell in tandem with crude futures. BENZENE: $773-778/tonne FOB Korea, down $5-10/tonne Prices softened in the morning, tracking crude’s slump. September offers were at $775-795/tonne FOB Korea, while bids were at $770-773/tonne FOB K

Solar Impulse 2 Nagoya to Hawaii flight breaks records

Fri, 03 Jul 2015 17:15:00 GMT

LONDON (ICIS)--Absolute distance and duration world records for solar aviation have been beaten on the latest leg of the attempt by Solar Impulse 2 to fly around the world, the Solar Impulse project team said on Friday. The United Nations Environment Program (UNEP) was joining its “The Future is Clean” initiative, it added. The Future is Clean, which aims to promote the use of clean technologies to help tackle climate change, has attracted the support of 160 individuals and organisations. Before the Solar Impulse 2 pilot Andre Borschberg made an historic landing in Hawaii, after flying solo for four days and 21 hours from Nagoya in Japan, project founder Bertrand Piccard stressed the clean energy message of the initiative. "Global implem

Asia naphtha closes at $544/tonne CFR Japan

Fri, 03 Jul 2015 11:50:34 GMT

Second-half August open-spec naphtha prices was assessed at $543-545/tonne CFR Japan, following a first-half September deal at $543.50/tonne CFR Japan.

Nigeria LNG offers prompt cargo for July loading

Fri, 03 Jul 2015 11:23:29 GMT

The Nigeria LNG (NLNG) export project has issued a one-cargo tender for late July loading, market sources said. The tender, which closes on 9 July,...

Taiwan’s CPC assesses offers in naphtha import tender

Fri, 03 Jul 2015 11:14:00 GMT

SINGAPORE (ICIS)--Taiwan’s CPC Corp is assessing offers in a tender to buy full-range and heavy naphtha for delivery to Kaohsiung on 1-25 August, traders said on Friday. The tender closed on 2 July. CPC previously bought two to three cargoes of full-range naphtha supply for delivery to Kaohsiung on 1-20 July. Each cargo is of 35,000 tonnes.The deal for the cargoes was done at a discount of $2/tonne to CFR (cost freight) Japan quotes.

EVENING SNAPSHOT Asia Markets Summary

Fri, 03 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Friday’s end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI $56.59/bbl, down 34 cents/bbl; Aug BRENT $61.73/bbl, down 34 cents/bbl Crude prices were trading lower in the afternoon ahead of the crucial Greek debt referendum this weekend. Prices were also pressured by oversupply concerns generated by an increase in drilling activity in the US and following data earlier this week which revealed increases in US crude stocks and higher crude production. NAPHTHA: $543-545/tonne CFR Japan, up $2-3/tonne Second-half August open-spec naphtha prices rose in afternoon trade, following a first-half September deal at $543.50/tonne CFR Japan. BENZENE: $778-788/tonne FOB Korea, down $12-22/tonne Offers were at $780-800/tonne FOB Korea for September, against bids at $775/tonne

Australia's Browse LNG project commences FEED phase

Fri, 03 Jul 2015 09:56:12 GMT

The Browse floating LNG (FLNG) project in Western Australia has started work on its front-end engineering and design (FEED), according to the partners for...

S Korea’s LG buys 25,000 tonnes naphtha for H1 Aug

Fri, 03 Jul 2015 06:45:15 GMT

SINGAPORE (ICIS)--South Korea’s LG Chem has bought 25,000 tonnes of naphtha for delivery in the first half of August, traders said on Tuesday. The deal for the cargo was done at a premium of $0.25/tonne to CFR (cost freight) Japan quotes, they added. Previously, LG bought a similar-sized cargo for first-half August, at a premium of $0.50-1.00/tonne to CFR Japan quotes.

Trafigura buys second spot LNG cargo from Singapore's Pavilion

Fri, 03 Jul 2015 06:43:13 GMT

Switzerland-headquartered trader Trafigura has purchased a spot cargo for July delivery from Singapore-based trading company Pavilion Energy, market sources...

NOON SNAPSHOT Asia Markets Summary

Fri, 03 Jul 2015 05:17:50 GMT

SINGAPORE (ICIS)--Here is Friday’s midday Asia oil and chemical markets summary. CRUDE: Aug WTI $56.72/bbl, down $0.21/bbl Aug BRENT $62.05/bbl, down $0.02/bbl Crude prices edged lower on Friday morning amid oversupply worries following news of a rise the number of active drilling rigs in the US. Meanwhile, Chinese authorities are investigating following recent sharp falls the Chinese share prices. NAPHTHA: $540-543/tonne CFR Japan, down $1.50-2.50/tonne Second-half August open-spec naphtha prices eased amid broadly stable crude futures. BENZENE: $790-810/tonne FOB Korea, up $15-20/tonne Market negotiations were few, while prices rose on slight increases in US prices despite a weakening crude. August offers were at $810/tonne FOB Korea against bids at $775-790/tonne FOB Korea. TOLUENE: $735-758/tonne F

News in brief

Fri, 03 Jul 2015 00:44:00 GMT

AMERICAS MORE OXYCHEM-MEXICHEM CRACKER WORK FOR CBI US-based petrochemicals engineering firm CBI has won a $115m contract for work on an ethylene storage facility at the OxyChem-Mexichem joint-venture cracker project in Texas. CBI is already providing the licence for the project’s ethylene technology, five cracking heaters, and the engineering, procurement and construction of the ethylene cracker in Ingleside, Texas. The new contract’s scope consists of surface facilities – including compression, dehydration, metering and associated pipe fabrication – at a salt cavern storage location. OMNOVA Q2 INCOME RISES DESPITE FALL IN SALES US-based producer OMNOVA Solutions’ second-quarter net income rose to $3.9m, from $3.4m in the same period a year ago, because of improved operating margins. Segment operating profit margins for the three months ended 31 May totaled 8.3%, compared with 7.0% in the

Chemical profile: Asia LAB

Fri, 03 Jul 2015 00:39:00 GMT

USES Linear alkylbenzene (LAB) is an organic compound used almost wholly as an intermediate in the production of surfactant linear alkylbenzene sulphonate...

Visit Japan Molecular Service (JMS) at the Production & Equipment Exhibition

Fri, 03 Jul 2015 00:00:00 GMT

Source: Company press release, 3 Jul 2015 , 3 Jul 2015 , Belzona, website: http://www.belzona.com/ Belzona Distributor, Japan Molecular Service (JMS) will be exhibiting at the Production & Equipment Exhibition from 22-24 Jul 2015. During the exhibition to be held in Tokyo, Japan Molecular Service (JMS) will be showcasing some of the new and innovative solutions from Belzona including the new to market Belzona 1212. A surface tolerant epoxy composite for emergency in-situ metal repair of oil contaminated, wet and underwater substrates. In addition, the unique Belzona 3411 a flexible and peelable corrosion protection system for the encapsulation of flanges and other pipe elements. Original Source: Belzona, website: http://www.belzona.com/, Copyright Belzona International Limited 2015. Released to ICIS 7 Jul 2015 [This article was prepared by Chemical Business NewsBase (CBNB), a third party premium option available through ICIS news. For any

GLM market report: Buyers start to bite on attractive spot

Thu, 02 Jul 2015 19:16:48 GMT

Although margins are thinning between regional FOB and DES prices, traders are carving out spot business with a small flurry of activity both east and west of Suez on the back of tenders and short positions

INSIGHT: US to eclipse China as global low-cost manufacturer

Thu, 02 Jul 2015 15:49:00 GMT

“The cost gap with China has shrunk dramatically, and it will disappear before the end of the decade.”

Indonesia’s Donggi-Senoro sells one LNG cargo to Arun, six to Mitsubishi

Thu, 02 Jul 2015 11:23:10 GMT

State-owned project Donggi-Senoro LNG (DSLNG) plans to produce a total of 13 cargoes this year, with the first cargo scheduled for the Arun terminal and...

China's ENN Energy buys spot LNG cargo for July delivery

Thu, 02 Jul 2015 11:12:10 GMT

Hebei-headquartered private company ENN Energy has purchased a spot cargo for delivery to China in late July, according to market sources in Asia. The...

Asia naphtha closes at $543.50/tonne CFR Japan

Thu, 02 Jul 2015 11:11:00 GMT

Second-half August open-spec naphtha prices closed at $542.50-544.50/tonne CFR Japan, with a deal done at $543/tonne for first-half September.

EVENING SNAPSHOT Asia Markets Summary

Thu, 02 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Thursday’s end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI $56.99/bbl, up 3 cents/bbl Aug BRENT $62.23/bbl, up 22 cents/bbl ICE Brent futures prices maintained some upside in late afternoon trade in Asia, while WTI futures were largely flat. Prices failed to recover much of the sharp losses made in the previous session. Prices had declined on Wednesday after US government data revealed a large 2.4m bbl/day build in crude stocks, the first increase since end April. NAPHTHA: $542.50-544.50/tonne CFR Japan, up $4.75-5.75/tonne Second-half August open-spec naphtha prices rebounded in afternoon trade, with a deal done at $543/tonne for first-half September. BENZENE: $775-790/tonne FOB Korea, down $5/tonne at the low end, up $5/tonne at high end The market was quiet,

Japanese sulphuric acid exports up 52% in May

Thu, 02 Jul 2015 10:41:00 GMT

LONDON (ICIS)--Exports of sulphuric acid from Japan totalled 258,432 tonnes in May, up 52% from the 170,474 tonnes exported in May 2014, data from the Japan Ministry of Finance showed on Thursday. The Philippines continued to take the majority of Japanese volumes, with 112,049 tonnes exported during May, up from 99,122 tonnes in May 2014. Deliveries of sulphuric acid to the nickel mines of Coral Bay and Taganito began ramping up following maintenance events at both during April and May. Due to the maintenance in the Philippines some higher volumes were redirected to Chile, India and Indonesia. Taiwan fell just outside the top five export destinations, receiving 8,002 tonnes during May. Top Five Japanese Sulphuric Acid Export Destinations

NOON SNAPSHOT Asia Markets Summary

Thu, 02 Jul 2015 05:00:00 GMT

SINGAPORE (ICIS)--Here is Thursday’s midday Asia oil and chemical markets summary. CRUDE: Aug WTI $56.95/bbl, down 1 cent/bbl; Aug BRENT $62.16/bbl, up 15 cents/bbl ICE Brent futures prices edged higher, while WTI futures values were rangebound. Prices had fallen sharply in the previous session after US government data revealed a large 2.4m bbl/day increase in crude stocks – the first increases since end April. NAPHTHA: $536.75-539.75/tonne CFR Japan, down $10.50-11.50/tonne Second-half August open-spec naphtha prices fell owing to overnight losses in crude futures. BENZENE: $780-785/tonne FOB Korea, down $10-12/tonne Prices fell in line with lower US benzene and crude prices. August offers were at $785-790/tonne FOB Korea, against bids at $770-780/tonne FOB Korea. September offers were at $778-785/tonne FOB Korea, against b

Westermost Rough offshore wind farm commissioned in the UK

Thu, 02 Jul 2015 00:00:00 GMT

Source: CTBR Clean Technology Business Review (2 Jul 2015 and Website: http://www.cleantechnology-business-review.com/ ) The 210 MW Westermost Rough offshore wind farm in the UK has been launched by Dong Energy and its partners. A 50% stake is being held by Dong Energy in the project while the remaining interest is equally held by Japan-based Marubeni and the UK Green Investment Bank. The wind farm is installed with 35 of Siemens' 6 MW turbines. Original Source: CTBR Clean Technology Business Review, http://www.cleantechnology-business-review.com/, Copyright CTBR 2015. Released to ICIS 9 Jul 2015 [This article was prepared by Chemical Business NewsBase (CBNB), a third party premium option available through ICIS news. For any queries about the content please contact: John Godfrey, godfreyj@elsevier.com, +44 (0) 1223 463167]

Perstorp acquires Koei's penta business and strengthens its presence in Asia

Thu, 02 Jul 2015 00:00:00 GMT

Source: Company press release, 2 Jul 2015 , 2 Jul 2015 , Website: http://www.specialchem4adhesives.com Perstorp has announced the acquisition of the Penta, Di-penta and sodium formate businesses, related technology and certain assets from Koei Chemical Company Ltd. As part of the business transfer, Koei Chemical Company Ltd will act as Perstorp's agent in Japan, which will secure continuous high service and reliable partnership with highly valued customers in the Japanese market. Original Source: Perstorp, 2015. Found on website: http://www.specialchem4adhesives.com. Released to ICIS 8 Jul 2015 [This article was prepared by Chemical Business NewsBase (CBNB), a third party premium option available through ICIS news. For any queries about the content please contact: John Godfrey, godfreyj@elsevier.com, +44 (0) 1223 463167]

Commission Implementing Decision (EU) 2015/1057 of 1 Jul 2015 amending Implementing Decision 2012/715/EU establishing a list of third countries with a regulatory framework applicable to active substances for medicinal products for human use and the respective control and enforcement activities ensuring a level of protection of public health equivalent to that in the Union

Thu, 02 Jul 2015 00:00:00 GMT

Source: Official Journal of the European Union L Legislation (2 Jul 2015 , Vol 58 , Iss No L171 , p 23-24 and Website: http://eur-lex.europa.eu/oj/direct-access.html ) The European Commission, having regard to the Treaty on the Functioning of the European Union, having regard to Directive 2001/83/EC of the European Parliament and of the Council of 6 Nov 2001 on the Community Code relating to medicinal products for human use, and in particular Article 111b(1) thereof, has adopted this decision. The Annex to Implementing Decision 2012/715/EU is replaced by the text set out in the Annex to this Decision, which includes the list of third countries (Australia, Brazil, Israel, Japan, Switzerland and the US) with a regulatory framework applicable to active substances for medicinal products for human use and the respective control and enforcement activities ensuring a level of protection of public health equivalent to that in the Union. This Decision shal

R-Japan secures autologous stem cell manufacturing licence

Thu, 02 Jul 2015 00:00:00 GMT

Source: PBR Pharmaceutical Business Review (2 Jul 2015 and Website: http://www.pharmaceutical-business-review.com/ ) On 29 Jun 2015, the Ministry of Health, Labour and Welfare Kinki Bureau of Health and Welfare granted licence of cell processing facility under the Act on the Safety of Regenerative Medicine to R-Japan, allowing the firm to provide stem cell production services to medical institutions. Currently, the firm cultures nearly 1000 cases/mo for Japan, Vietnam, Turkey, and Korea. R-Japan will submit another cell manufacturing licence application to provide Endothelial Progenitor Cells (EPC) in 1H 2016. The regenerative medicine therapies market in Japan is expected to increase to Yen 95 bn in 2020 and Yen 1 trillion in 2030, according to the Japanese Ministry of Economy, Trade and Industry. Original Source: PBR Pharmaceutical Business Review, http://www.pharmaceutical-business-review.com/, Copyright PBR 2015. Released to ICIS 8 Ju

Teijin Pharma to launch small 45 mg Mucosolvan L Expectorant Tablet in Japan

Thu, 02 Jul 2015 00:00:00 GMT

Source: Company press release, 2 Jul 2015 , 2 Jul 2015 , Teijin, website: http://www.teijin.co.jp/ On 2 Jul 2015, Teijin Pharma Limited, the core company of the Teijin Group's medical and pharmaceutical business, announced that it will launch Mucosolvan L tablet 45 mg (ambroxol hydrochloride), a reduced-size tablet version of Teijin Pharma's novel expectorant drug, on 2 Jul 2015. This sustained-release tablet measures just 7.5 mm x 6 mm, making it smaller and easier to swallow than conventional once-daily expectorant drugs. It contains the same active ingredient as Mucosolvan L capsule 45 mg, a once-daily product now on the market. It is also expected to have the same effect, especially when administered after dinner for the treatment of productive sputum the following morning. Original Source: Teijin, website: http://www.teijin.co.jp/, Copyright Teijin Limited 2015. Released to ICIS 7 Jul 2015 [This article was prepared by Chemical Bus

Japan's Showa Denko expands used-plastics gasification plant

Wed, 01 Jul 2015 15:50:00 GMT

LONDON (ICIS)--Showa Denko has completed an expansion of its used-plastics gasification facility in Kawasaki, the Japan-based chemicals firm said on Wednesday. The plant processes used plastics to obtain part of the hydrogen needed for Showa’s production of ammonia at Kawasaki. Showa said the processing of used plastics to produce hydrogen "entails [a] significantly lower environmental burden, compared to conventional methods to produce hydrogen from petroleum-derived raw materials." The Kawasaki project qualified for a subsidy from Japan’s Ministry of the Economy, Trade and Industry, the company added. With the expansion, the percentage of hydrogen from used plastics to produce Showa’s Ecoann-brand liquefied ammonia will increase to 65%, the company said without providing additional capacity details. Ecoann is used to remove nitrogen oxides contained in exhaust gas from the

Japan May LNG imports fall to five-year low

Wed, 01 Jul 2015 12:11:59 GMT

Japan’s LNG imports for May fell to 5.75m tonnes, the lowest for that month since 2010, according to the latest customs data. That level was almost...

EVENING SNAPSHOT Asia Markets Summary

Wed, 01 Jul 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Wednesday’s end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI $58.91/bbl, down 56 cents/bbl; Aug BRENT $63.29/bbl, down 30 cents/bbl Crude futures prices remained under downward pressure in afternoon trade, after Greece failed to pay a loan from the International Monetary Fund (IMF) on time. Further downward pressure was generated by news that US crude production in April hit its highest level since 1971. Meanwhile, industry data also revealed an unexpected 1.9m bbl/day rise in US crude inventories. NAPHTHA: $548.25-550.25/tonne CFR Japan, down $1.25-2.25/tonne Second-half August open-spec naphtha prices edged down in tandem with crude futures. BENZENE: $792-795/tonne FOB Korea, down $8-25/tonne Two August deals were concluded – one at $792/tonne FOB Korea and the

Asia naphtha closes at $549.25/tonne CFR Japan

Wed, 01 Jul 2015 10:40:00 GMT

Second-half August open-spec naphtha prices was assessed at $548.25-550.25/tonne CFR Japan amid lower crude futures.

Mitsui Chemicals, SKC PU joint venture firm starts operations

Wed, 01 Jul 2015 10:19:27 GMT

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals Inc (MCI) and South Korea’s SKC Co Ltd started operations at their new joint venture polyurethanes company on Wednesday. The 50:50 venture called Mitsui Chemicals SKC Polyurethanes Inc (MCNS) will develop, manufacture and sell polyurethane materials such as toluene di-isocyanates (TDI), methyl di-p-phenylene isocyanates (MDI) and polypropylene glycol (PPG) or polyether polyols, the Japanese parent said in a statement. “In fiscal 2020, MCNS will strive to enhance and maximise its integrated synergies to achieve target sales of $2bn and earnings before tax of $150m,” Mitsui Chemicals said. MCNS has a capital of won (W) 70bn with global operations headquartered in Seoul, South Korea. MCI is more focused on isocyanates exports, while SKC’s strength is in polyols, in addition to being the only producer of propylene oxide (PO) in South Korea. “Our sales and marketing channels remain

NOON SNAPSHOT Asia Markets Summary

Wed, 01 Jul 2015 05:00:00 GMT

SINGAPORE (ICIS)--Here is Wednesday’s midday Asia oil and chemical markets summary. CRUDE: Aug WTI $58.77/bbl, down 70 cents/bbl; Aug BRENT $63.05/bbl, down 54 cents/bbl Crude futures weakened after Greece missed the 30 June deadline for its debt repayment to the International Monetary Fund (IMF). News that US crude production in April hit its highest level since 1971 further weighed on the market. Industry data also revealed an unexpected 1.9m bbl/day rise in US crude inventories. NAPHTHA: $549.50-552.50/tonne CFR Japan, up $1.50-2.50/tonne Second-half August open-spec naphtha prices rose amid lower crude futures. BENZENE: $800-820/tonne FOB Korea, up $25-35/tonne Prices rose in tandem with overnight gains in crude and in the US benzene market. August offers were at $820/tonne FOB Korea, against bids a

Japan's JX Nippon Oil concludes July benzene ACP at $825/tonne

Wed, 01 Jul 2015 04:43:59 GMT

SINGAPORE (ICIS)--Japan’s JX Nippon Oil Energy Corp concluded its July benzene Asia Contract Price (ACP) at $825/tonne late on 30 June, according to buyers and sellers in the market. The July settlement was at an $85/tonne increase compared with $740/tonne CFR (cost and freight) Asia in June. The increase was fuelled by a rise in spot Asia benzene prices following a steady rise in US benzene prices, but gains were capped with declines in crude in the last few days of the month. Spot prices averaged $798/tonne FOB (free on board) Korea in the last three trading days of June, with the average for the month at $807/tonne FOB Korea, according to ICIS. JX Nippon Oil had nominated $870/tonne CFR Asia for July ACP on 26 June.

India seeks international developers to build its 100-GW solar market

Wed, 01 Jul 2015 00:00:00 GMT

Source: Renewable Energy News (1 Jul 2015 and Website: http://www.renewableenergyworld.com ) India is planning to attract bidders for its first dollar-linked solar power contracts, as the country's government seeks to reduce costs and invite investments. India's state-run NTPC Ltd will award tenders for 500-1000 MW of electricity in Jul 2015. The contracts will pay the rupee equivalent of the dollar tariff set by the bidding, and NTPC will establish a fund to manage the currency risk it takes on. India's government targets to set up 100 GW of solar power by 2022, an increase from 4.1 GW in 2015. Approximately $94 bn of investment is needed to meet this target. Japan-based SoftBank Corp is the latest investor in the Indian solar sector, as the company revealed a $20 bn solar venture with Bharti Enterprises Pvt and Foxconn Technology Group. Original Source: Renewable Energy News, http://www.renewableenergyworld.com/, Copyright RenewableEnergyWorld

Japan's Showa Denko expands use of recycled plastic as feedstock

Wed, 01 Jul 2015 00:00:00 GMT

Source: Plastics News (1 Jul 2015 and Website: http://www.plasticsnews.com ) An expanded facility that recycles waste plastic into feedstock for ammonia has been opened by Showa Denko KK at its site in Kawasaki, Japan. Waste plastic is used by the company to produce hydrogen, which is being utilized in the production of ammonia. Used plastics now account for 65% of the hydrogen used at the plant. Original Source: Plastics News, http://plasticsnews.com/, Copyright Crain Communications Inc 2015. Released to ICIS 8 Jul 2015 [This article was prepared by Chemical Business NewsBase (CBNB), a third party premium option available through ICIS news. For any queries about the content please contact: John Godfrey, godfreyj@elsevier.com, +44 (0) 1223 463167]

Taisho to develop and commercialize Ablynx's rheumatoid arthritis drug ozoralizumab in Japan

Wed, 01 Jul 2015 00:00:00 GMT

Source: PBR Pharmaceutical Business Review (1 Jul 2015 and Website: http://www.pharmaceutical-business-review.com/ ) A licence contract has been signed by Belgium-based biopharmaceutical company Ablynx with Japan-based Taisho Pharmaceutical to develop and commercialize ozoralizumab, Ablynx's anti-TNFa for treating rheumatoid arthritis (RA) patients, in Japan. Currently, ozoralizumab, which contains two TNFa that targets nanobodies, is under a Phase II clinical trial for RA. Under the deal, Taisho will manage the development, registration and commercialization of the drug in Japan. The company will provide an upfront payment of $3 M, development and commercialization milestone payments, and royalties based on annual net sales of anti-TNFa nanobody therapeutics to Ablynx. Original Source: PBR Pharmaceutical Business Review, http://www.pharmaceutical-business-review.com/, Copyright PBR 2015. Released to ICIS 8 Jul 2015 [This article wa

Pellet News: US pellet exports reach new high

Wed, 01 Jul 2015 00:00:00 GMT

Source: Biomass Magazine (Jul 2015 , Vol 9 , Iss No 7 , p 20 and Website: http://biomassmagazine.com ) According to Wood Resources International LLC, North American pellet exports to Asia and Europe was a record high, up 22% from 2013 levels. Canadian loads were down 6%, whereas US shipments increased by 40%. Exports from the US to Europe was over 1.1 M tonnes in 4Q 2014, an increase for the 12th successive quarter. Exports from the West Coast to Asia declined with producers focusing on seasonal domestic demand. Loads intended for the UK accounted for 73% of US exports, an increase from 31% in 2012 and 55% in 2013. Exports from British Columbia in 4Q 2014 dropped by 15% versus 3Q 2014. Shipments to Asia declined, in contrast to the rise in exports to Europe. Trading to South Korea and Japan has the potential to expand. Original Source: Biomass Magazine, http://biomassmagazine.com/, Copyright BBI International 2015. Released to ICIS 7 Jul

Showa Denko expands utilization of used plastic to produce ammonia

Wed, 01 Jul 2015 00:00:00 GMT

Source: Company press release, 1 Jul 2015 , 1 Jul 2015 , Showa-Denko KK, website: http://www.sdk.co.jp/ Showa Denko (SDK) has completed the expansion of used-plastic gasification facility at the Kawasaki plant and held a ceremony for its completion. As part of its basic chemicals business, SDK is producing ammonia at Kawasaki. SDK processes used plastic to obtain part of hydrogen necessary for the synthesis of ammonia. As an industrial material, ammonia is used in the production of synthetic fibres and metal surface treatment for automotive and construction machinery parts. The demand for ammonia used for removing nitrogen oxides contained in exhaust gas from thermal electric power plants and other facilities has been increasing in recent years. Furthermore, SDK's Ecoann liquefied ammonia has been approved and rated high as 'eco-friendly goods for procurement' by major electric power companies because the product is partly based on used plastic.

nPharmakon announces positive data from double-blind clinical study of first-in-class agent for skin hyperpigmentation

Wed, 01 Jul 2015 00:00:00 GMT

Source: Company press release, 1 Jul 2015 , 1 Jul 2015 , Website: http://www.marketwired.com On 1 Jul 2015, nPharmakon LLC, a life sciences company focused on retargeting the identification of previously unrecognized molecular targets of clinically tested therapeutic agents and their subsequent development for new uses, announced the results from a clinical study of NPH29, the company's development candidate for skin hyperpigmentation. In a double-blind, within-subject, nurse-administered 30 day study involving 21 study participants, NPH29 1% cream has demonstrated statistically significant superiority to vehicle cream and the commercial comparator, a best-selling product in Japan with tranexamic acid as the active ingredient, in both visual scoring and instrumentally measured LabL values; no adverse events attributable to the NPH29 cream were observed. Original Source: Panther Biotechnology Inc, 2015. Found on website: http://www.marketwired.

INSIGHT: Chemical producers must understand climate change implications

Tue, 30 Jun 2015 17:36:00 GMT

By John Richardson PERTH (ICIS)--It doesn’t really matter whether or not the vast majority of scientific opinion proves to be ultimately right on climate change being a man-made phenomenon. What instead matters is if a critical mass of people continue to think that carbon dioxide and other greenhouse gas emissions are responsible for global warming. And right now, the number and type of people who are convinced that we are on the brink of a humanitarian, political, economic and ecological disaster of our own making has reached the point of critical mass. Take just one very important recent example: The publication earlier this month of an encyclical by Pope Francis, in which we called on citizens, politicians, business leaders and organisations (under organisations, we can include chemicals companies) t

US Cheniere finalises financing for Sabine Pass LNG train 5

Tue, 30 Jun 2015 16:52:30 GMT

US-based LNG export developer Cheniere is in the advanced stage of financing for its proposed train 5 for its Sabine Pass expansion, the company announced....

Europe toluene arbitrage to US a point of contention in the market

Tue, 30 Jun 2015 12:39:00 GMT

LONDON (ICIS)--European toluene producers have said the gap between US and domestic prices is widening, but other players feel this arbitrage (arb) only exists on paper and should not have an impact on European prices, sources said on Tuesday. US toluene prices moved higher over the last month, leading European producers to point to a widening arb that has placed upward pressure on European prices. “The arb to the US is widely open. Where should this product come from?” said a producer. However, other players see the arb as being strictly theoretical. “There is interest but the prices don’t match, with freight and costs etc. It will not happen with 1,000 or 2,000 tonnes, it needs bigger,” said a trader. A second trader said: “People are looking at the published number, which is FOB (free on board) prompt. If you look at

Japan’s Mitsui Chemicals ramps up output at restarted TDI units

Tue, 30 Jun 2015 11:54:00 GMT

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals is ramping up production at its toluene di-isocyanate (TDI) units in Omuta and Kashima after restarting the plants in the week of 22 June, a company source said on Tuesday. Each of the two plants has a 120,000 tonne/year capacity. The Omuta plant was taken off line on 6 May, while the Kashima plant was shut on 10/11 May for regular maintenance, the source said. Mitsui Chemicals plans to gradually raise the units' run rates to 100%, the source said.

Japan’s Mitsui Chem ramping up production at Omuta MDI unit

Tue, 30 Jun 2015 11:41:00 GMT

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals is currently ramping up production at its 60,000 tonne/year methyl di-p-phenylene isocyanate (MDI) unit in Omuta that was restarted in the week of 22 June after a turnaround, a company source said on Tuesday. The unit was shut on 6 May for regular maintenance, the source said. The company plans to gradually raise the plant’s run rate to 100%, the source said without disclosing the current run rate of the unit.

EVENING SNAPSHOT Asia Markets Summary

Tue, 30 Jun 2015 11:00:00 GMT

SINGAPORE (ICIS)--Here is Tuesday’s end-of-day Asia oil and chemical markets summary. CRUDE: Aug WTI $58.71/bbl, up 38 cents/bbl; Aug BRENT $62.73/bbl, up 72 cents/bbl Crude futures strengthened in late afternoon trade, regaining some ground lost in the previous session. Prices rose despite worries over a possible debt default by Greece, which is scheduled to make a repayment to the IMF on Tuesday. Meanwhile, talks between Iran and world powers over Tehran’s nuclear programme are expected to be extended. NAPHTHA: $548-550/tonne CFR Japan, up $$3-4/tonne First-half August open-spec naphtha prices rebounded, following a trade at $548/tonne for delivery in the second half of August. BENZENE: $775-785/tonne FOB Korea, up $25/tonne at the low end, down $5/tonne at the high end August of

Asia naphtha rises to $549/tonne CFR Japan

Tue, 30 Jun 2015 10:59:00 GMT

First-half August open-spec naphtha prices rebounded to $548-550/tonne CFR Japan, following a trade at $548/tonne for second-half August delivery.

Mitsui Phenols Singapore raises H1 July phenol price by $10/tonne

Tue, 30 Jun 2015 08:32:00 GMT

MELBOURNE (ICIS)--Mitsui Phenols Singapore has announced its first-half July phenol price at $1,200/tonne ex-tank, a $10/tonne increase from the second half of June, a company source said on Tuesday. Meanwhile, the producer has reduced its first-half July price for by-product acetone to $750/tonne ex-tank, down by $20/tonne from the second half of June, the source said. Mitsui Phenols Singapore’s plant, which can produce 300,000 tonnes/year of phenol and 180,000 tonnes/year of acetone, is being operated at 100% capacity. The plant is scheduled to undergo a month-long turnaround starting in February 2016.

Slow summer for Northeast Asia LNG demand

Tue, 30 Jun 2015 07:21:14 GMT

LNG demand in northeast Asia is expected to remain moribund through the summer as mild temperatures stay in place for the next few months. The Japan...

NOON SNAPSHOT Asia Markets Summary

Tue, 30 Jun 2015 05:00:00 GMT

SINGAPORE (ICIS)--Here is Tuesday’s midday Asia oil and chemical markets summary. CRUDE: Aug WTI $58.21/bbl, down 12 cents/bbl; Aug BRENT $61.94/bbl, down 7 cents/bbl Crude futures edged lower in Asian morning trade amid continued concerns over Greek debt and its position in the eurozone. Meanwhile, talks between Iran and world powers over Tehran’s nuclear programme are expected to be extended. NAPHTHA: $544.00-547.00/tonne CFR Japan, down 50 cents/tonne at the low end, up 50 cents/tonne at the high end First-half August open-spec naphtha traded at a wider range on weak crude prices. BENZENE: $750-790/tonne FOB Korea, down $35/tonne at the low end The market was quiet amid sharp declines in US prices overnight and softer crude futures. A single September bid was quoted at $750/tonne FOB K

Japan’s Mitsubishi Chem attains on-spec C2, C3 at expanded cracker

Tue, 30 Jun 2015 04:53:00 GMT

SINGAPORE (ICIS)--Japan’s Mitsubishi Chemical has attained on-spec ethylene (C2) and propylene (C3) production at its newly-expanded 570,000 tonne/year naphtha cracker in Mizushima, a company source said late on Monday. Operations at the plant, which restarted on 26 June after a turnaround, were being ramped up, the source said without providing details on the unit’s current run rates. The company has completed expansion works to raise the ethylene capacity of the plant by 70,000 tonnes/year from 500,000 tonnes/year during the turnaround. The unit was shut on 20 May. The cracker’s increased ethylene capacity is part of the plan to merge the company’s cracker operations with Asahi Kasei Chemicals, which will permanently shut its 500,000 tonne/year cracker at the site by April 2016.