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Indonesia TPPI restarts aromatics plant after 15-month shutdown [ 24 Jun, 2009]
Indonesia's Trans-Pacific Petrochemical Indotama has restarted its aromatics complex at Tuban, East Java, an industry source said Wednesday, ending a prolonged shutdown of about 15 months.
Although current production rates were not disclosed, TPPI expects to start shipping paraxylene and benzene cargoes in July, the source said, adding that the restart began over June 16-17.
The country's largest aromatics producer by capacity, declared force majeure on February 25 last year, and shut its complex over March 1-2. Both actions took place after strong waves destroyed a breakwater that surrounded the East Java port in February, crippling the company's ability to load petrochemical products for sale and receive condensate feedstock.
The breakwater has been repaired and TPPI received its first condensate feedstock in May. Platts reported that the company's first straight run kerosene and diesel will be supplied to Pertamina in late June or early July.
Source: Platts Petrochemical Alert.
July PX ACP nomination held back by impasse over June settlement [ 18 Jun, 2009]
Nominations for the July Asia Contract Price for paraxylene have been
delayed because the June contract price is still not settled, participants in
the process said Thursday.
The ACP nominations for July should have been announced around mid-June
and the settlement for June should have been concluded by the end of May.
"We are ready to nominate, but still need to find a good time to send the
message to the market," a source from Japan's Idemitsu Kosan said. "If our
customers can accept $1,010/mt as the June ACP, then we can announce our July
proposal very soon. But, we are still negotiating the June price with our
buyers."
Nippon Oil, another paraxylene seller, said its nomination will only be
announced next week. ExxonMobil is also keeping to the sidelines as yet.
Source: Platts
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