TPS Aromatics Trade Flow Report - August 10
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Post on 26-Jan-2015
DESCRIPTIONAromatics trade flow and pricing for the week of August 10. www.petchemstandard.com.
<ul><li> 1. BENZENE/PYGAS: Summary: US August spot benzene prices closed the week stronger, up nearly $34.50 at $1,468/mt DDP USG. Prices rose after the week started on a soft note with August heard traded at $1,433.70/mt DDP USG. August FOB values were largely on par with DDP prices with a trade for 10mb heard done Tuesday at $1,429/mt. September prices remained at a roughly $30 discount to August and were estimated Friday at near $1,438/mt DDP TXC. The spread between FOB Korea and USG M2 DDP prices gained on the week, estimated Friday at near $55/mt. European benzene values closed Friday on either side of $1,405 for August while September was closer to $1,370/mt. The TPS Asian benzene marker was at $1,323/mt FOB Korea Friday. Import volumes in July were down slightly on the month, estimated at just under 72,000 metric tons as volumes saw support during the last week of the month with material arriving on five different vessels. June imports were estimated at just under 86,000 metric tons. Pygas imports were pegged at just over 12,000 metric tons in July. For August, import volumes started the month with a near 6,300 mt parcel heard landing at Baton Rouge on August 3. ARRIVED: The vessel Celsius Mayfair arrived in the US Gulf early in the month and was last seen Sunday at the Enterprise terminal. The vessel, said to be fixed with 8,000 metric tons of benzene, departed from Aratu, Brazil on July 12. (Last update seen at 7:40 a.m. on August 10.) The vessel Intrepid Seahawk, said to be loaded with 12,000 metric tons of benzene, was said to have arrived at Plaquemine on August 3 and was seen Saturday moored at Texas City. The vessel cast off from the Port of Yanbu on June 30. (Last update seen at 7:44 a.m. on August 10.) EN ROUTE: The Siteam Explorer, was last seen entering the Gulf of Mexico just past the Yucatan Channel. The vessel, said to be loaded with 12,000 metric tons of benzene, was expected to arrive in Houston on August 12. (Last update seen 7:52 a.m on August 10.) AROMATICS TRADE FLOW REPORT August 10, 2014 Vol 1, Issue 12 Qty Load Discharge Laycan Tonnage Ship 12,000 Yanbu Houston End-Jun Intrepid Intrepid Seahawk 16,000 Rotterdam Houston End-Jun Eitzen Sichem Hawk 12,000 Ulsan USGC June 25-30 Siteam Explorer 5,000 Ternuezen Houston H2 Jun Nordic 6-10,000 Rotterdam Houston H1 Jun Odjfell Bow Chain 20,000 Nagoya LMR 1/10 july FPMC FPMC 28 8,000 BZ/6,000 Pygas Korea-Japan USGC H2 Jul Navig8 Tintomara 9,000 Brazil USGC H2 Jul Maersk MT Carla Maersk 8,000 Brazil USGC H2 Jul Odjfell Celsius Mayfair 9,000 Ulsan USGC H1 Aug FPMC FPMC 29 </li></ul> <p> 2. The vessel FPMC 28, which sources said was loaded with some 20,000 metric tons of benzene, was last seen in the North Pacific Ocean. The vessel cast off from Nagoya, Japan on July 31 according to VesselTracker, and was slated to arrive at the Guatemalan port of Quetzal on August 23. The ship was subsequently expected to move to the US Gulf Coast, ultimately discharging Lower Mississippi River, sources said. (Last update seen on August 10 at 7:56 a.m.) The vessel Tintomara was last seen moored at the Korean port of Ulsan. The vessel was slated be loaded with 8,000 metric tons of benzene and 6,000 metric tons of pygas at the end of July or in early August, sources said. Further details and confirmation were not available at time of publication. (Last update seen at 8:23 a.m. on August 10.) The vessel FPMC 29, heard to be loading 9,000 metric tons of benzene sometime in H1 Aug, was last seen anchored off the Korean port of Ulsan. Sources said the vessel was to be ultimately destined for the US Gulf Coasts. (Last update seen 9:36 a.m. on August 10.) Copyright The Petrochemical Standard 2014 | email@example.com | CONTENT IS PROVIDED AS IS. TPS MAKES NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS TO BE OBTAINED FROM, ACCESSING AND USING TPS DATA. Copyright The Petrochemical Standard 2014 | firstname.lastname@example.org | CONTENT IS PROVIDED AS IS. TPS MAKES NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS TO BE OBTAINED FROM, ACCESSING AND USING TPS DATA. 3. STYRENE: Summary: Styrene monomer parcels out of the US ticked up in July with nearly 131,000 metric tons of material exported throughout the month. Most material was COA sent by producers and the preferred destinations were in Central and South America. Spot exports to Europe continued to lull, hampered by higher priced material stateside. US spot styrene values were pegged near $1,590/mt FOB USG to close the week while European prices were last seen on either side of $1,605/mt for September. To work from the US, European values would have to be at $1,635 and higher. Asian SM prices were roughly on par with US prices as the Asia TPS marker closed Friday at $1,591/mt FOB Korea. CFR China values were at a near $20 premium to FOB Korea material to finish the week. EN ROUTE: The vessel FPMC 30, loaded with 6,000 metric tons of styrene, was last seen in the North Pacific Ocean, west of Japan. The vessel was headed west at 12.2 knots and was slated to arrive at Yeosu on August 17 before making its way to Taiwan, sources said. The vessel cast off from Balboa, Panama on July 17. (Last update seen at 10:02 a.m. on August 10.) The vessel Chem Hydra, heard to have been fixed with between 10,000-13,000 metric tons of styrene, was last seen just off of the US Gulf Coast. The vessel, seen in the Turning Basin Area of Houston on July 29, was heard fixed for end of July loading and was destined for Northwest Europe. (Last update seen at 10:06 a.m. on August 10.) Copyright The Petrochemical Standard 2014 | email@example.com | CONTENT IS PROVIDED AS IS. TPS MAKES NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS TO BE OBTAINED FROM, ACCESSING AND USING TPS DATA. Quantity Load Discharge Laycan Ship 5,000-8,000 Houston ARA End July Chem Hydra 5,000 Houston ARA End July Chem Hydra 5,000 USGC Med End July Chem Leo 5,000 Lk Charles ARA 1h july Stolt Inspiration 11,000 Lk Charles ARA 7/15 july Trans Iberia 3,000 Houston Korea 1/10 aug 5,000 Houston Korea 1/10 aug 5,000 Houston Far East 1/10 aug 4. TOLUENE AND XYLENES Summary: Little activity was seen this week in the xylenes and toluene markets as mixed xylene prices reversed course, falling roughly $33/mt on the week to close Friday at $1,124/mt FOB USG. Meanwhile, PX prices were seen higher, up $15 week on week to close Friday at $1,330/mt FOB USG, supported by stronger Asian prices. PX prices on an FOB Korea basis gained roughly $36 on the week as the TPS marker closed Friday at $1,406/mt. On a CFR China basis, prices were also up $36 on the week, closing Friday at $1,426/mt. European PX prices were talked notionally in the high $1,200s/mt range on an FOB NWE basis. Toluene prices in the US crept higher Friday but were still down near $37/mt on the week, closing Fridays session at $1,133/mt FOB USG. The Chembulk Lindy Alice, loaded with 10,000 metric tons of PX, was last seen off Balboa, Panama. The vessel was heard loaded at the end of July and was slated for Far East/China, sources said. (Last signal seen 10:43 a.m. on August 10.) The vessel, Duzgit Integrity, said to be loaded with 6,000 metric tons of MX, was last seen in the North Atlantic Ocean headed west at 12.2 knots. The vessel, which cast off from Rotterdam, was destined for the US East Coast. The vessel was set to carry 4,000 tons of PX but failed subs, according to sources. (Last update seen August 10 at 11:46 a.m.) PX Qty Load Discharge Laycan Ship 10,000 Houston Suape Mid-Jul Stolt Basuto 10,000 USGC Far East End Jul Chembulk Lindy Alice 4,000 Aliaga US Atlantic Coast H2 Jul Duzgit Integrity 6,000 PX/OX Gonfreville US East Coast/USG H1 Jul MX 5,000 Houston H1 July Ivy Galaxy 300 Houston Rio Haina H1 Aug 6,000 Skikda USGC H2 Jul Duzgit Integrity 5. PRICING SUMMARY: After a steep drop to open the week, August DDP values clawed back losses, mitigating declines to close at $1,468/mt, down $9 week on week. September prices strengthened but remained at a discount to August, closing Friday at $1,438/mt DDP USG. The Korea-US spread widened to $57/mt. The spot benzene 20-day moving average was at $1,491/mt, nearly $37 above the 5-day moving average of $1,454/mt and $23 above the spot price at close of business Friday. US spot toluene prices closed Friday at $1,133/mt, down $37 on the week. MX prices were also lower, down roughly $33 to close at $1,124/mt FOB USG. Blend values for toluene and xylenes strengthened but remained well below spot prices, estimate in the low to mid 320 cents/gal range (near $980/mt) on Friday. The benzene-toluene spread gained $29 on the week to close at $335/mt while the PX- toluene spread was at $197/mt as of close of business Friday, up $52.50/m on the week. US spot paraxylene values gained on stronger Asian pricing. August spot prices rose $35/mt on the week, closing Friday at $1,330/mt FOB USG. Asian PX prices were up $36 on the week, closing Friday at $1,406 and $1,426 on an FOB Korea and CFR basis, respectively. The US MX- PX spread widened to $206/mt on the week up $42.50/mt. US styrene prices fell on the week amid limited arb opportunities. August FOB spot prices closed the week at $1,591/mt, level with Asian spot prices and near $15 below European spot prices. US prices were at a near $20 discount to CFR China values. The styrene-benzene spread widened to $123/mt on the week, as margins for SM makers on a spot basis remained in negative territory, estimated at just under -50 cents/mt. -$40.00 -$20.00 $0.00 $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00 $600.00 $800.00 $1,000.00 $1,200.00 $1,400.00 $1,600.00 $1,800.00 3-Mar-14 10-Mar-14 17-Mar-14 24-Mar-14 31-Mar-14 7-Apr-14 14-Apr-14 22-Apr-14 29-Apr-14 7-May-14 15-May-14 22-May-14 30-May-14 6-Jun-14 13-Jun-14 20-Jun-14 27-Jun-14 7-Jul-14 14-Jul-14 21-Jul-14 28-Jul-14 4-Aug-14 US BZ DDP M2 BZ FOB KOREA SPREAD 40,000 60,000 80,000 100,000 120,000 140,000 160,000 April May June July US benzene imports (metric tons) -$200.00 -$100.00 $0.00 $100.00 $200.00 $300.00 $400.00 $500.00 14-Mar-14 20-Mar-14 26-Mar-14 1-Apr-14 7-Apr-14 11-Apr-14 17-Apr-14 24-Apr-14 30-Apr-14 7-May-14 13-May-14 19-May-14 23-May-14 30-May-14 5-Jun-14 11-Jun-14 17-Jun-14 23-Jun-14 27-Jun-14 3-Jul-14 10-Jul-14 16-Jul-14 22-Jul-14 28-Jul-14 1-Aug-14 7-Aug-14 BZ-Tol spread MX-Tol Spread PX-Tol Spread $0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 14-Mar-14 14-Apr-14 14-May-14 14-Jun-14 14-Jul-14 SM-BZ Spread Copyright The Petrochemical Standard 2014 | firstname.lastname@example.org | CONTENT IS PROVIDED AS IS. TPS MAKES NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS TO BE OBTAINED FROM, ACCESSING AND USING TPS DATA. 6. FREIGHT RATES 10,000 MT ULSAN HOUSTON: $56-60/MT HOUSTON MAIN PORT FE: $50-54/MT HOUSTON CHINA: $51-55/MT EDITORS CONTACT DETAILS Kevin Allen Email: email@example.com Phone: 713.344.3690 Yahoo: tpsusaros H1 May - $1,333.50 H2 May - $1,336.38 H1 June - $1,369.42 H2 June - $1,527.59 H1 July - $1,520.86 H2 July - $1,511.45 H1 Aug MTD - $1,453 US DDP SPOT BENZENE AVERAGES Copyright The Petrochemical Standard 2014 | firstname.lastname@example.org | CONTENT IS PROVIDED AS IS. TPS MAKES NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS TO BE OBTAINED FROM, ACCESSING AND USING TPS DATA. </p>
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