The Petrochemical Standard's Aromatics Trade Flow report for the week of August 17

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TPS Aromatics Trade Flow report for the week of August 17. The latest data on BTX and styrene imports and exports into and from the US.

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  • 1. BENZENE/PYGAS: Summary: US August spot benzene prices extended gains on the week, rising near $35/mt week on week to close Friday at roughly $1,504/mt DDP USG. August was assessed as high as $1,519/mt DDP amid talk of short covering due to potential vessel delays though no confirmed delays were reported. September values also gained ground, rising $15/mt to finish the week at $1,453/mt DDP USG. European benzene values were also higher, talked notionally Friday on either side of $1,395/mt while the TPS FOB Korea marker closed Friday at $1,332/mt. Benzene imports (landed) into the US totaled near 29,000 metric tons MTD possibly as much as 40,000 metric tons already on the water and some 12,000 yet to be loaded. ARRIVED: The vessel Bow Jubail, loaded with nearly 6,000 metric tons of benzene, arrived at the Port of Houston on August 10. The vessel cast off from Aratu Brazil, on July 26 and was last seen in the Turning Basin Area at the Houston Port on August 15. (Last update seen 8:14 on August 16.) The vessel Sichem Edinburg, loaded with roughly 6,200 metric tons of benzene, arrived at the Port of Baton Rouge on August 4. The vessel cast off from the Port of Montreal on July 21 and was last seen in the North Atlantic Ocean headed east-northeast at 11.3 knots. (Last update seen at 8:16 a.m. on August 16.) The Siteam Explorer was last seen moored near North Beach at the Port of Corpus Christi. The vessel was said to be loaded with 12,000 metric tons of benzene. (Last update seen 8:18 a.m on August 16.) EN ROUTE: The vessel FPMC 29, heard to be loading 9,000 metric tons of benzene sometime in H1 Aug, was last seen in the North Pacific Ocean headed north-northeast at 15.7 knots. The vessel was slated to arrive on the US West Coast and then move on to the US Gulf Coast, sources said. (Last update seen 8:26 a.m. on August 16.) AROMATICS TRADE FLOW REPORT August 17, 2014 Vol 1, Issue 13 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 5,000 Pajaritos USGC H1 Aug Olmeca 12,000 Montreal USGC mid-Aug Elevit 20-25,000 - USGC H1 Sep FPMC Formosa 30 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.
  • 2. The vessel Olmeca was last seen in waiting anchorage near Deer Park, Texas. The vessel, heard loaded with 5,000 metric tons of benzene, cast off from the Port of Coatzacoalcos on August 10. (Last update seen 3:14 p.m. on August 16.) The vessel Elevit, slated to load with approximately 12,000 metric tons of benzene, was last seen Saturday moored at Montreal Harbor. The vessel was expected to make its way to the US Gulf. Last update seen 3:18 p.m. on August 16.) STYRENE: Summary: Styrene monomer parcels were limited on the week as high prices continued to hamper spot trade. Spot values in the US were talked at near $1,593/mt FOB USG but all talk was notional as prices were well below production costs and far from workable levels to out Europe and Asia. Participants remained sidelined, waiting to see if an outage at Huntmans PO/MTBE unit at Port Neches would adversely affect styrene prices. The company was heard to have faced a hard shutdown at the unit though confirmation was not immediately available. European styrene values for September were last seen largely on par with US prices while the TPS CFR China price stood at a $1.50/mt premium to USGC values. 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. 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 7,000 Houston ARA 1-Aug Bow Saga 15,000 Houston Brazil 2-Aug Sloman Herakles
  • 3. EN ROUTE: The vessel Sloman Herakes, loaded with 15,000 metric tons of styrene according to PEIRS data, was last in Canal del Norte, moving south-southwest at 8.6 knots. The vessel cast off from Houston on August 1 and was slated to arrive at the Port of Manaus on August 19. (Last update seen at 4:09 p.m. on August 16.) The vessel Chem Hydra, heard to have been fixed with between 10,000-13,000 metric tons of styrene, was last seen in the Straits of Florida headed east-northeast at 14.4 knots. The vessel cast off from Houston on August 13 and was slated to arrive in the Port of Antwerp on September 1. (Last update seen at 4:16 p.m. on August 16.) TOLUENE AND XYLENES: 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. 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 NWE 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 NWE USGC H2 Jul Duzgit Integrity 7-8,000 Corpus Christi Korea/China End July/Early Aug Formosa 27
  • 4. Summary: US xylene prices were under pressure from multiple fronts this week following a fire at BPs Cooper River PTA facility. The fire shut one of two lines at the 1.27 million metric tons/year facility and curbed demand for PX and MX sources said. Additional pressure was seen from falling xylenes prices in Asia, where PX values fell $49/mt to $1,377/mt CFR China. Declines were more significant in the Asian MX markets with prices down $57/mt on the week to close Friday at $1,146.50/mt CFR China. US MX prices fell below the $1,100/mt mark this week, down $27, while PX values were down roughly $40 to close the week at $1,290/mt FOB USG. Toluene prices in the US were on the decline, closing Friday at $1,112 as imports volumes were at roughly 21,000 metric tons thus far in August. EN ROUTE: The Chembulk Lindy Alice, loaded with 10,000 metric tons of PX, was last seen west of Guadalajara, Mexico headed north-northwest at 14.7 knots. The vessel was heard loaded at the end of July and was slated for Far East/China, sources said. (Last signal seen 4:22 p.m. on August 16.) The vessel FPMC 27, expected to load with 7-8,000 metric tons of mixed xylenes, was last seen anchored off of Galveston and destined for Texas City. Sources said the vessel was ultimately destined for Korean/China. (Last update seen at 4:31 p.m. on August 16.) The vessel Duzgit Integrity, which sources said was loaded with 6,000 metric tons of MX and possibly 4,000 metric tons of PX, was last seen in the North Atlantic Ocean headed west at 12.2 knots. The vessel, which cast off from Rotterdam, landed at Charleston and was slated to arrive in Houston on August 19. (Last update seen August 16 at 4:42 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.
  • 5. PRICING SUMMARY: US August spot DDP values closed the week stronger, up $35 week on week to close Fridays session at $1,503/mt. September US benzene rose $15/mt to close the week at $1,453/mt DDP. The TPS FOB Korea marker closed $10 lower Friday to be assessed at $1,332/mt while September European benzene values were at just on either side of $1,395/mt. The FOB Korea-US DDP M2 spread was slightly higher week on week, closing at $65/mt. The US spot benzene price $7.50 above the 5- day moving average, which closed Friday at $1,496.50/mt, and was just over $6 higher than the 20-day moving average of $1,497.80/mt. US styrene prices were talked notionally at $1,593/mt FOB USG Friday, well below production costs and yet too high to work to other regions. European SM values were talked at near $1,585/mt while the TPS Asian SM markers closed $1,572.50/mt FOB Korea and $1,594.50 CFR China. Participants kept close eye on the market following an unplanned outage at Huntsmans PO/MTBE plant at Port Neches, Texas as the event could impact both benzene and styrene. US spot toluene prices fell $20.50/mt on the week, closing at $1,112.50/mt FOB USG. The US price held a roughly $45/mt discount to FOB Korea prices. The benzene-toluene spread breached the $400/mt mark before retreating to close the week at $390.50/mt. US xylenes prices also moved lower on the week, pressured downward by falling Asian prices and a fire at BPs Cooper River PTA facility. Spot August closed the week $27/mt lower at $1097/mt MX while PX prices weakened to $1,290/mt. 97/mt as of close of busi pectively. The US MX-PX spread widened to $206/mt on the week up $42.50/mt. 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. -$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 11-Aug-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 7-Aug-14 14-Aug-14 SPOT BZ M1 DDP USG 5-DAY Ma 20-DAY MA -$50.00 $0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 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 13-Aug-14 BZ-Tol spread Tol-MX spread PX-Tol Spread 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 4-Aug-14 11-Aug-14 Spot M1 BZ Spot M1 SM Spread
  • 6. FREIGHT RATES 10,000 MT ULSAN HOUSTON: $52-56/MT HOUSTON MAIN PORT FE: $44-48/MT HOUSTON CHINA: $52-56/MT EDITORS CONTACT DETAILS Kevin Allen Email: kevin.allen@petchemstandard.com Phone: 713.344.3690 Yahoo: tpsusaros H2 June - $1,527.59 H1 July - $1,520.86 H2 July - $1,511.45 H1 Aug - $1,475.56 US DDP SPOT BZ 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. The US toluene-Mx spread gained this week as MX prices fell. The spread on a spot basis closed at $15.50/mt while the toluene-PX spread was down near $20 at $177.50/mt. Asian MX values fell $57 on the week as the TPS marker closed Friday at $1,126.50/mt FOB Korea. Asian PX prices fell in concert with MX, down nearly $50/mt on the week to $1,357/mt FOB Korea and $1,377/mt CFR China. -$50.00 $0.00 $50.00 $100.00 $150.00 $200.00 $250.00 14-Mar-14 21-Mar-14 28-Mar-14 4-Apr-14 11-Apr-14 21-Apr-14 28-Apr-14 6-May-14 13-May-14 20-May-14 28-May-14 4-Jun-14 11-Jun-14 18-Jun-14 25-Jun-14 2-Jul-14 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 7-Aug-14 14-Aug-14 US Spot PX-MX Spread US SPOT FOB SM AVERAGES H2-Jun $1,633.82 H1 Jul - $1652.13 H2 July - $1584.00 H1 Aug - $1,591.94 US SPOT FOB TOL AVERAGES H2 June - $1280.14 H1 July - $1283.49 H2 July - $1,261.51 H1 Aug - $1,133.92 US SPOT FOB MX AVERAGES H2 June - $1,257.75 H1 July - $1,226.24 H2 July - $1,192.06 H1 Aug - $1,129.10 US SPOT FOB PX AVERAGES H2 June - $1,293.00 H1 July - $1,310.00 H2 July - $1,344.00 H1 Aug - $1,306.00 FREIGHT RATES 5,000 MT ULSAN HOUSTON: $54-58/MT HOUSTON MAIN PORT FE: $48-52/MT HOUSTON CHINA: $52-56/MT HALF MONTH AVERAGE SPOT PRICES: