Britain's Coryton refinery to run after Petroplus collapse

(Reuters) - A tanker carrying crude oil is heading for Britain's Coryton refinery, trade sources and ship tracking data showed on Tuesday, just as a deal to keep the plant running after the collapse of its owner Petroplus expires.

It was not clear whether the shipment, due to reach the refinery on Tuesday afternoon, was under the expiring three-month deal to supply the plant, or part of a new arrangement to keep the refinery operating.

"We are working on a number of options and in the interest of not destabilising anything we are not commenting at all," said Steven Pearson, a PwC administrator looking after the refinery.

Last month, Coryton's administrator said the fate of the refinery would be decided by mid-May when the current oil supply deal expired.
MRC

(plasteurope) -- Nova Chemicals (Calgary, Alberta/Canada) spokesperson said the group's PS production line in Monaca, Pennsylvania / USA would not be part of PFB Corporation's (Calgary, Alberta / Canada) planned takeover of Nova's Performance Styrenics business.

The deal will only include Nova's EPS activities at Monaca, as well as its EPS plant in Painesville, Ohio / USA. Nova's "Upes" polystyrene line in Pennsylvania will become part of the group's PE business unit, the spokesperson added.

MRC

(chemmonitor) -- Lanxess with headquarters in Germany managed to finalize the first quarter of the current year with positive and even strong financial results despite existing macroeconomic concerns and instability.

For instance, company's net profit through the quarter is estimated at EUR 193 million.

The figure is over 15.8 percent higher than the one in the same period of 2011. First quarter sales total EUR 2.4 million, showing a rise by 15.2 percent year on year.

MRC

(chemmonitor) -- The Brussels-headquartered Belgium company Solvay S.A. unveiled its financial results of January-March 2012.

The company's REBITDA dropped by about 9% year on year, in Q1 2012, and demonstrated a 47% hike, if compared to October-December 2011.

Solvay?s net sales from January through March reached about EUR 3.2 million. The figure rose by 8.1% year on year and by around 3%, as opposed to Q1 of the last year.

The Belgium chemical company showed a snug increase in its business through Q1, 2012.

MRC

СИНГАПУР (ICIS) -- В Китае импорт полиэтилена (ПЭ) и полипропилена (ПП) в апреле, по оценкам участников рынка, снизился на 173,300 тонн или на 16,8% по сравнению с показателями марта. В апреле импорт ПЭ и ПП в Китай составил 520,000т и 340,000 тонн соответственно, добавил источник.

По данным китайской таможни, в марте было импортировано 626,100 тонн полиэтилена и 407,200 тонн полипропилена. Китайская таможня не сообщила объемы импорта в апреле, так как данные за каждый месяц обычно доступны лишь после 20-го числа следующего месяца.


Участники рынка рассказали, что покупательский интерес был невысоким, так как цены большинства импортного материала превышали внутренние цены в Китае. Местные трейдеры отмечают, что участники рынка сохраняют пессимистичные прогнозы. Трейдеры, в основном, продают запасы и придерживаются арбитражных сделок.

Перевод и редакция новости: Маркет Репорт.

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