Trinseo reduced November PS prices in Europe

MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex binders and synthetic rubber, and its affiliate companies in Europe have announced price decrease for all polystyrene (PS) grades in Europe, as per the company's press release.

Effective November 1, 2018, or as existing contract terms allow, the contract and spot prices for the products listed below were reduced as follows:

- STYRON general purpose polystyrene grades (GPPS) - by EUR80 per metric ton;
- STYRON and STYRON A-Tech high impact polystyrene grades (HIPS) - by EUR80 per metric ton.

As MRC informed before, Trinseo last adjusted its prices for all PS, acrylonitrile-butadiene-styrene (ABS) and acrylonitrile styrene copolymer (SAN) grades on 1 September 2018. Thus, September prices for the said products rose, as stated below:

- STYRON GPPS grades - by EUR85 per metric ton;
- STYRON and STYRON A-Tech HIPS grades - by EUR85 per metric ton;
- MAGNUM ABS resins - by EUR60 per metric ton;
- TYRIL SAN resins - by EUR60 per metric ton.

Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD4.4 billion in net sales in 2017, with 16 manufacturing sites around the world, and approximately 2,200 employees.
MRC

MOSCOW (MRC) -- CPC Corp. of Taiwan and Indonesia's PT Pertamina have signed a memorandum of understanding (MoU) to set up a new naphtha cracker in Indonesia, reported Apic-online with reference to the Taipei Times, citing CPC Chairman Tai Chein.

The project, expected to cost USD6.47-billion, would in-volve the production of almost 1-million t/y of ethylene, meeting local demand. Investment plans are expected to begin to "take shape" in the middle of 2019, Tai noted.

CPC has begun feasibility studies and is considering one of five sites proposed by the Indonesian govern-ment. In addition, the government is offering an incentive package for petrochemical projects, which waives all corporate income taxes for the first 20 years and then provides a 50% tax cut for the following two years.

The partners would each have a 45% interest in the plant, with the remaining 10% to be held by Taiwanese and foreign petrochemical investors.

As MRC wrote before, in early December 2017, CPC Corporation resumed operations at its residue fluid catalytic cracker (RFCC) unit in Dalin following a turnaround. The unit was shut for maintenance in mid-September 2017. Located at Dalin in Kaohsiung, Taiwan, the RFCC has a production capacity of 400,000 mt/year.

CPC Corporation, Taiwan, is engaged in the exploration, production, refining, procurement, transportation, storage, and marketing of oil and gas. The company provides fuel oil, including automotive unleaded gasoline and diesel fuel, low-sulfur fuel oil, marine distillate fuels, marine residual fuels, and aviation fuel; petrochemicals, such as ethylene, propylene, butadiene, benzene, para-xylene, and ortho-xylene; liquefied petroleum gas products comprising liquefied petroleum gas, propane, butane, and a propane/butane mixture; lubricants, motor oil, industrial oil, grease, and marilube oil; SNC products, including petroleum ether, naphtha, toluene, xylene, crude octene, methyl alcohol, normal paraffin, viscosity-graded asphalt cement, and sulfur; and natural gas.
MRC

MOSCOW (MRC) - Italian refiner Saras is constructing a ship-refueling terminal at its Sardinia plant and will market a new, cleaner marine fuel ahead of a major regulatory change in 2020, its chief executive told Reuters.

From January 2020, the International Maritime Organization (IMO) will ban ships from using fuels with a sulfur content above 0.5 percent, compared with 3.5 percent now, in one of the biggest changes in the oil market in decades.

Refineries around the world have been gearing up for the switch by reducing output of high-sulfur fuel and upgrading plants to maximize production of the cleaner, more expensive fuel, which is similar to diesel.

Saras is investing in infrastructure that will allow ships to dock outside its 300,000-barrels-per-day Sarroch refinery in Sardinia to directly load ultra-low-sulfur marine fuel oil (ULSFO), in what is known as bunkering, CEO Dario Scaffardi said.

"Today, bunkering is based mainly on blending. In the Mediterranean you have Malta, where people bring different fuels and blend it. With the new specs, this (blending) will be very difficult to achieve for technical reasons so people like us, who will be able to produce directly the new fuel, will have the competitive advantage," Scaffardi said. "With a small investment, we will have bunkering infrastructure and a lightering vessel and start selling locally fuels to expand the market."

The company did not disclose the size of the investment. Saras, one of Europe's most modern refineries which also has a trading desk in Geneva, is developing its own ULSFO that the company will start marketing directly to shippers. The plant will initially produce 500,000 to 600,000 tons of ULSFO per year, he said.
MRC

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, has announced it is implementing sales control measures in the European, Americas and Asia regions for its polyoxymethylene (POM) engineered materials product, including all grades and specifications, as per the company's press release.

Factors impacting the company's ability to meet POM product demand include: Rhine river levels are at the lowest on record, restricting the supply of key raw materials into the company's Industriepark Hochst (IPH) facility in Frankfurt, Germany, the largest POM unit in the world; a series of required turnarounds at Celanese-owned and co-supplier POM units.

While any existing placed order is acknowledged, future POM orders could be subject to adjustment or denial.

As MRC informed previously, Celanese Corporation has increase October list and off-list selling prices for Vinyl Acetate Monomer (VAM) sold in Europe, Middle East, Africa and the Americas. The price increases below were effective for orders shipped on or after October 1, 2018, or as contracts otherwise allow, and were incremental to any previously announced increases.

Thus, VAM prices rose, as follows:

- by EUR50/mt - for Europe, Middle East & Africa;
- by USD0.03/lb - for the USA and Canada:
- by USD65/mt - for Mexico & South America.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,600 employees worldwide and had 2017 net sales of USD6.1 billion.
MRC

MOSCOW (MRC) -- Pucheng Clean Energy has undertaken a planned shutdown at its linear low density polyethylene (LLDPE) plant, as per Apic-online.

A Polymerupdate source in China informed the plant was taken off-line for a maintenance turnaround on October 21, 2018. It is slated to remain off-line for around two weeks.

Located at Shaanxi province in China, the plant has a LLDPE production capacity of 300,000 mt/year.

As MRC reported earlier, on May 28, 2018, Pucheng Clean Energy restarted its polypropylene (PP) plant following an unplanned shutdown. The plant remaind off-line for around one week owing to technical issues. Located at Shaanxi province in China, the plant has a PP production capacity of 400,000 mt/year.
MRC