TPS Aromatics Trade Flow Report - July 31

Download TPS Aromatics Trade Flow Report - July 31

Post on 26-Jan-2015

107 views

Category:

Business

0 download

Embed Size (px)

DESCRIPTION

The Petrochemical Standard's Aromatics Trade Flow report for July 31.

TRANSCRIPT

<ul><li> 1. ``` BENZENE/PYGAS: Summary: US spot benzene prices fell sharply on the week with M2 DDP values down by $125/mt to near $1,435/mt Wednesday. Imports for the month were estimated at near 45,000 metric tons at time of publication but were expected to be higher with additional volumes expected to be reported in the coming days. The spread between FOB Korea and USG M2 DDP prices narrowed on the week as spot prices softened and was estimated at near $33/mt as of close of business Wednesday. August DDP prices were at $1,495/mt while September values were seen discounted by near $63 at $1,432/mt. European benzene values were talked Wednesday on either side of $1,425/mt for August while September was near $1,390/mt. The TPS Asian benzene marker was at $1,342.50/mt FOB Korea Thursday. EN ROUTE: The vessel Intrepid Seahawk, said to be loaded with 12,000 metric tons of benzene, was last seen waiting just outside of Carville, Louisiana. The vessel had arrived on July 30 after castinc off from the Port of Yanbu on June 30. (Last update seen at 12:02 p.m on July 31.) The vessel Celsius Mayfair, reportedly last seen anchored off of the coast of Houston. The vessel, heard fixed with 8,000 metric tons of benzene, arrived in the US Gulf Coast on July 31 after initially departing from Aratu, Brazil. (Last update seen at 3:33 p.m. on July 31.) 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 Korea USGC 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 Korea USGC H1 Aug FPMC FPMC 29 AROMATICS TRADE FLOW REPORT July 31, 2014 Vol 1, Issue 11 Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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. </li></ul> <p> 2. ``` The vessel Sichem Hawk, heard to be loaded with 16,000 metric tons of benzene, was last seen moored near Deer Park, Texas. The vessel, which sources said cast off from Rotterdam, arrived at Houston on July 30. (Last update seen at 3:53 p.m. on July 2 The vessel FPMC 29, heard to be loading 9,000 metric tons of benzene sometime in H1 Aug, was last seen moored at the Port of Kaohsiung, Taiwan. The vessel cast off from Ulsan on July 25 and was expected to make its way to the US Gulf, sources said. (Last updated seen 4:55 a.m. on July 24.) Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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. 3. ``` STYRENE: Few new styrene fixtures were seen this week as prices fluctuated. Spot prices had fallen, dipping below $1,605/mt before an August trade for 3kt was heard done at $1,620/mt FOB USG. With prices in Europe near $1,635 and Asian styrene values at near $1,610/mt FOB Korea and $1,635/mt CFR China, it was difficult for US sellers to find a home for material. Styrene prices however faced downward pressure as the August benzene contract settled 22 cents lower at 506 and supply lengthened with one major US producer in turnaround. The vessel Mid Nature, heard to be loaded with 3,000 metric tons of styrene, was last seen moving east at 14.2 knots, just past the Straight of Gibraltar. The vessel set off from Houston/Baton Rouge on July 17 and was slated to arrive in Barcelona on August 2. (Last update seen at 4:42 p.m. on July 31.) The vessel FPMC 30, loaded with 6,000 metric tons of styrene, was last seen in the middle of the North Pacific Ocean headed west-northwest at 12.4 knots. The vessel departed from Balboa, Panama on July 17 and was expected to arrive at Yeosu on August 17 before making its way to Taiwan, sources said. (Last update seen at 4:12 p.m. on July 31.) Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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 | kevin.allen@petchemstandard.com | CONTENT IS PROVIDED AS IS. TPS MAKES NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS TO BE OBTAINED FROM, Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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. 5,000 Houston FEAST 1/10 Aug 5,000 Lake Charles ARA 1h July Milestone TBN RNR 5,000 USG ARA 2h July Ace Tankers TBN RNR 5,000 USG ARA 1h July 5-10,000 USG ARA 1h July 9,000 USG Med 1h July Bum Shin $50 4,000 Houston Koper 1h July Chemical Marketer mid-high $70s 5,000 Houston Veracruz end June 3,000 Lake Charles Venezuela end June 4,000 Houston ARA end June JO Ilex $50s reported 3,400 Houston + Lk Chas Borburata end June 5,000 Houston Ulsan or China 2h June 5,000 Houston Korea - Yangtze River June 15-20 Chembulk Virgin Gorda High $50s 4. ``` The vessel Chemical Master, loaded with two 4,000 metric tons of styrene, was last seen moving east at 13.4 knots, headed toward the Strait of Gibraltar. The vessel cast off from Texas City on July 17 was slated to arrive in Algeciras on August 3 before moving on to Koper. (Last update seen at 4:15 p.m. on July 31.) TOLUENE AND XYLENES Summary: Toluene and xylene prices moved lower this week, with toluene values down near $98 on the week while MX fell $33/mt. US PX values gained ground shed near $40 to be talked at near $1,330/mt FOB USG on the week. US prices were the lowest globally with Asian PX values in H2 October near $1,335/mt FOB Korea and near $1,360/mt CFR China. US MX prices had come down in recent days as sources said some 5,000 metric tons was fixed from Rotterdam to the US Gulf during the second half of July. US MX prices were at $1,151.50/mt FOB USG, near $35 higher than Asia and near level to August European MX prices. PX prices in Asia faced continued downward pressure as participants failed to reach agreement on the August contract despite sellers revising nominations and PTA prices moved lower. The Chembulk Lindy Alice, expected to load 10,000 metric tons of PX, was last seen moving up the Mississippi River near New Orleans. The vessel was slated to load near the end of July and make its way from the US Gulf Coast to Far East/China, sources said. (Last signal seen 5:13 p.m. on July 31.) 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 MX 5,000 Houston H1 June Maritime Vanessa 5,000 Houston H1 July Ivy Galaxy 300 Houston Rio Haina H1 Aug 6,000 Skikda USGC H2 Jul Duzgit Integrity 5. ``` The vessel, Duzgit Integrity, said to be loaded with 6,000 metric tons of MX, was last seen near the Strait of Gibraltar headed west-southwest at 12.5 knots. The vessel, which cast off from Rotterdam, was destined for the US East Coast. The vessel was also heard to have been fixed with 4,000 tons of PX however some sources said that the fixture failed subs. Confirmation was not immediately available. (Last update seen July 31 at 5:12 p.m.) The vessel, Stolt Basuto, loaded with 10,000 metric tons of paraxylene, was last seen traveling south-southeast at 14.5 knots just off the coast of Brazil. The vessel departed from Port Arthur on July 20 and was slated to arrive in Suape on August 2. (Last update seen at 5:14 p.m. on July 31.) The vessel, Ivy Galaxy, heard to be loaded with 5,000 metric tons of MX, was last seen moored off of Balboa, Panama. The vessel, which cast off from New Orleans on July 24, was slated to arrive at the Port of Ulsan on September 1, according to Vesseltracker. (Last update seen on July 31 at 5:22 p.m.) Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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. 6. ``` PRICING AND MARKET DYNAMICS August spot DDP benzene prices were lower on the week, closing Thursday at $1,432/mt DDP USG as FOB Korea values fell to $1,323/mt. The Korea-US spread shrank to $50.50/mt. August European benzene values were last seen near $1,420/mt. July spot benzene prices stood roughly $25.50 below the 5-day moving average of $1,517.50 and nearly $22.50 below the 20-day moving average at $1,514.50/mt. US spot toluene values fell sharply on the week, closing at $1,182.50/mt FOB USG Thursday, a weekly decline of nearly $70. Spot mixed xylene also fell $33 on the week, closing Thursday at $1,151/mt. US MX values held a discount of $37 to Asian prices and US toluene was nearly $75 higher than Asian prices. US spot paraxylene values gave back gains seen last week, falling to $1,325/mt FOB USG however prices were too lofty to move material to other regions. China was the most likely destination with the TPS FE China marker at $1,390/mt. Still H2 Sep CFR FE China was at $1,375/mt. September European PX values were estimated at $1,370/mt. Margins for TDP operators were up near $30 on the week on declines in toluene and were estimated Thursday at $72.50/mt. US styrene prices were slightly higher on the week, up $11/mt to close Thursday at $1,615/mt. August US spot values were $11 above FOB Korea values but $29 above CFR East China prices. US prices were at a $25 discount to European spot prices. The styrene-benzene spread widened on the week, near$122 to close Thursday. Margins for styrene producers on a spot basis remained in negative territory, but gained on a lower BZ contract, estimated at just under -$7/mt Thursday. -$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 US BZ DDP M2 BZ FOB KOREA SPREAD 300.00 350.00 400.00 450.00 500.00 550.00 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 14-May-14 21-May-14 29-May-14 5-Jun-14 12-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 SPOT BZ M1 DDP USG 5-DAY Ma 20-DAY MA -$40.00 -$20.00 $0.00 $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 3-Mar-14 10-Mar-14 17-Mar-14 24-Mar-14 31-Mar-15 7-Apr-14 14-Apr-14 22-Apr-14 29-Apr-14 7-May-14 14-May-14 21-May-14 29-May-14 5-Jun-14 12-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14 11-Jul-14 18-Jul-14 25-Jul-14 US TDP Margins $/mt 0.00 50.00 100.00 150.00 200.00 250.00 300.00 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 11-Mar-14 18-Mar-14 25-Mar-14 1-Apr-14 8-Apr-14 15-Apr-14 23-Apr-14 30-Apr-14 8-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 Spot M1 BZ Spot M1 SM Spread 7. ``` NOTES: ** Benzene pricing courtesy of the Petrochemical Wire Copyright The Petrochemical Standard 2014 | asiaeds@petchemstandard.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 | asiaeds@petchemstandard.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 | kevin.allen@petchemstandard.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 | kevin.allen@petchemstandard.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 | kevin.allen@petchemstandard.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. 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: kevin.allen@petchemstandard.com Phone: 713.344.3690 Yahoo: tpsusaros Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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. 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 MTD - $1,511.45 US DDP SPOT BENZENE AVERAGES Copyright The Petrochemical Standard 2014 | kevin.allen@petchemstandard.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. </p>

Recommended

View more >