Download pdf - The Petrochemical Standard's Aromatics Trade Flow report 7.24.14

BENZENE/PYGAS:

Summary: Benzene imports into the US continued to lull this week as styrene exports appeared to hold steady. The

spread between FOB Korea and USG M2 DDP prices widened on the week following a spike in spot benzene prices in the

US. July US DDP spot prices closed Wednesday at near $1,560.50/mt while August was slightly discounted to July by

roughly $8. European benzene values closed Wednesday on either side of $1,525/mt while the TPS Asian benzene

marker was at $1,367.50/mt FOB Korea Thursday.

ARRIVED

FSL New York – arrived at the Port of Baton Rouge on July 19 carrying roughly 7,100 metric tons of benzene. The vessel

cast off from the Terneuzen, Netherlands on June 26.

EN ROUTE:

The vessel Intrepid Seahawk, said to be loaded with 12,000 metric tons of benzene, was last seen headed west-

southwest-at 12.9 knots just west of the Florida coast. The vessel cast off from the Port of Yanbu on June 30 and was

destined for the SW Pass in the US Gulf with an ETA of July 28. (Last update seen at 1:17 a.m on July 24.)

The vessel Celsius Mayfair, reportedly fixed with 8,000 metric tons of benzene, was last seen moving north-northwest at

11.6 knots in the Caribbean Sea. The vessel , loaded in Aratu, was expected to make its way to the Houston with an ETA

of July 30. (Last update seen at 11:20 a.m. on July 24.)

BENZENE

Qty Load Discharge Laycan Tonnage Ship

9,000 Brazil USG H2 Jul Maersk MT Carla Maersk

8,000 Brazil USG H2 Jul Odjfell Celsius Mayfair

12,000 Yanbu Houston End-Jun Intrepid Intrepid Seahawk

16,000 Rotterdam Houston End-Jun Eitzen Sichem Hawk

5,000 Ternuezen Houston H2 Jun Nordic NA

6-10,000 Rotterdam Houston H1 Jun Odjfell Bow Chain

8,000 BZ/6,000 Pygas Korea-Japan USGC H2 Jul Whitefin Tintomara

9,000 mt Korea USGC H1 Aug AOT Formosa 29

AROMATICS TRADE FLOW REPORT July 24, 2014 Vol 1, Issue 10

Copyright © The Petrochemical Standard 2014 | [email protected] |

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 vessel Sichem Hawk, heard to be loaded with 16,000 metric tons of benzene, was last seen moving west-southwest

headed toward the Caribbean islands, traveling at 13.6 knots. The vessel was headed toward the Port of Houston with

an ETA of July 29. (Last update seen at 12:31 a.m. on July 23.)

The vessel MT Carla Maersk, expected to load 9,000 metric tons of benzene, was last seen moored at the Port of Santos.

The vessel was expected to load sometime in H2 July and then make its way to the US Gulf. (Last update seen at 11:32

a.m. on July 24.)




The vessel Tintomara, heard to be loaded with 8,000 metric tons of benzene and 6,000 metric tons of pygas, was

expected to load in H2 July from either Korea or Japan. The vessel, last seen headed north-northeast at 12.3 knots

toward Taiwan, was said to be destined for the US Gulf Coast. (Last update seen at 12:36 a.m. on July 23.)

The vessel FPMC 29, heard to be loading 9,000 metric tons of benzene sometime in H1 Aug, was last seen in the Korean

Strait moving north-northwest at 6.3 knots. The vessel was destined for Ulsan and was expected to then make its way to

the US Gulf, sources said. (Last updated seen 4:55 a.m. on July 24.)

STYRENE: Trade activity in the styrene markets picked up this week as sellers seemed keen to fix spot parcels. Activity

was somewhat hampered in recent week as US spot prices were too high to move material, sources said. Prices however

began to decline and US spot values were down nearly $40 to just under $1,600/mt FOB USG Wednesday. European SM

values for August were near $1,665/mt while August CFR China styrene prices were near $1,657/mt.

STYRENE

Qty Load Discharge Laycan Vessel

5,000 USG ARA end-Jul Chem Hydra

5,000 USG ARA H1-Jul SNR

5,000 USG Med end-Jul Chem Leo

11,000 Houston ARA end-Jul Trans Iberia

4,000 Houston Koper H1-Jul Chemical Master

3,000 Houston Barcelona mid-Jul Mid Nature

5,000 Lake Charles ARA H1-Jul Stolt Inspiration




The vessel Mid Nature, heard to be loaded with 3,000 metric tons of styrene, was last seen moving east-northeast in the

North Atlantic Ocean, traveling at 14.6 knots. 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 11:30 a.m. on July 24.)

The vessel Stolt Inspiration, said to be loaded with 5,000 metric tons of styrene, was last seen in the Gulf of Mexico

moving south at 7.9 knots. The vessel was destined for Europe/ARA, sources said. Further details were unavailable. (Last

update seen at 11:39 p.m. on July 23.)

The vessel Bum Shin, loaded with 9,000 metric tons of styrene, was last seen east of the coast of Portugal, moving east-

southeast at 1 knot. After casting off from Point Comfort, the vessel was expected to make its way to the Mediterranean

and arriving at Gebze. (Last update seen 10:46 a.m. on July 24.)




The vessel FPMC 30, loaded with 6,000 metric tons of styrene, was last seen off the coast of Mexico moving north-

northwest at 12.1 knots. The vessel was slated to arrive at Yeosu on August 17 and then make its way to Taiwan, sources

said. (Last update seen at 1:14 p.m. on July 24.)

The vessel, Chembulk New York, carrying roughly 8,200 metric tons of styrene for two different parties, was

last seen moored at Antwerp. The vessel left Houston on July 2 and stopped at Le Havre prior to moving on to

Antwerp, where it arrived on July 22.

The vessel Chemical Master, loaded with two 4,000 metric tons, was last seen in the North Atlantic Ocean traveling east

at 13.5 knots. The vessel was slated to arrive in Algeciras on August 4 before moving on to Koper. (Last update seen at

12:04 p.m. on July 24.)




TOLUENE AND XYLENES

Summary: Toluene and xylene prices moved lower this week, with spot mixed xylenes falling near $20 week on week.

PX values gained ground on tightness in Asia and touched as high as $1,370/mt FOB USG before scaling back to

$1,345/mt Thursday. Spot toluene prices also fell as buyers and sellers were at odds on pricing. July toluene was down

near $20/mt as well on the week.

The Chembulk Lindy Alice, expected to load 10,000 metric tons of PX, was last seen moored at Houston. The vessel was

slated to load in mid-July and make its way from Houston to China. (Last signal seen 2:04 p.m. on July 24.)

The vessel, Stolt Basuto, loaded with 10,000 metric tons of paraxylene, was last seen in the Caribbean Sea moving east-

southeast at 13.7 knots. The vessel departed from Port Arthur and was slated to arrive in Suape on August 2. (Last

update seen at 2:07 p.m. on July 24.)

PX

Qty Load Discharge Laycan Ship

10,000 Baytown China H1 June Siteam Adventurer

10,000 Houston Mai Liao mid-Jul Chembulk Lindy Alice

10-15,000 USG FE Asia H1 June UACC Marah

10,000 Houston Suape mid-Jul Basuto

MX

5,000 Houston FE Asia H1 July Ivy Galaxy

5,000 Houston Mai Liao H1 June Maritime Vanessa




August spot DDP benzene prices were higher

on the week but declined on the day Thursday,

closing at near $1,522/mt. FOB Korea spot

values fell $13 Thursday at $1,367.50 /mt. The

Korea-US spread stood at $96.50/mt. August

European benzene values were estimated at

near $1,480/mt.

July spot benzene prices stood roughly $30

above the 5-day moving average of $1,525 and

nearly $28.50 above the 20-day moving

average at $1,526.25/mt.

Spot toluene values fell sharply on the week,

closing at $1,255.50/mt FOB USG, a week on

week decline of $24.50. Spot mixed xylene

also fell on the week, closing Thursday at

$1,185/mt. US MX values held a discount

$31.50 to Asian MX while US toluene was

nearly $76.50 higher than Asian toluene.

US spot paraxylene values moved higher on

gains in Asia but scaled back Thursday, closing

at near $1,350/mt. After a series of gains

driven by tight supply, Asian prices fell $45

Thursday, closing at $1,407.50/mt. US PX

values were nearly $57/mt below Asia but

were nearly $60 above August PX values in

Europe.

Margins for TDP operators flipped back into

positive territory and were estimated at

$43.90/mt Thursday, up over $42 on the week.

Styrene prices moved lower on the week,

down $34/mt to close Thursday at $1,604/mt.

US spot values were nearly $37 below FOB

Korea prices and $53/mt below CFR China

values. US prices were at a $61 discount to

European spot prices.

The styrene-benzene spread narrowed sharply

on the week, falling $106 to close Thursday at

near $49/mt. Margins for styrene producers

on a spot basis remained in negative territory,

estimated at just under -$52/mt Thursday.

PRICING AND MARKET DYNAMICS

-$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-M

ar-1

4

10

-Mar

-14

17

-Mar

-14

24

-Mar

-14

31

-Mar

-14

7-A

pr-

14

14

-Ap

r-1

4

22

-Ap

r-1

4

29

-Ap

r-1

4

7-M

ay-1

4

15

-May

-14

22

-May

-14

30

-May

-14

6-J

un

-14

13

-Ju

n-1

4

20

-Ju

n-1

4

27

-Ju

n-1

4

7-J

ul-

14

14

-Ju

l-1

4

21

-Ju

l-1

4

US BZ DDP M2 BZ FOB KOREA SPREAD

300.00

350.00

400.00

450.00

500.00

550.00

3-M

ar-1

4

7-M

ar-1

4

13

-Mar

-14

19

-Mar

-14

25

-Mar

-14

31

-Mar

-14

4-A

pr-

14

10

-Ap

r-1

4

16

-Ap

r-1

4

23

-Ap

r-1

4

29

-Ap

r-1

4

6-M

ay-1

4

12

-May

-14

16

-May

-14

22

-May

-14

29

-May

-14

4-J

un

-14

10

-Ju

n-1

4

16

-Ju

n-1

4

20

-Ju

n-1

4

26

-Ju

n-1

4

2-J

ul-

14

8-J

ul-

14

14

-Ju

l-1

4

18

-Ju

l-1

4

24

-Ju

l-1

4

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-M

ar-1

4

7-M

ar-1

4

13

-Mar

-14

19

-Mar

-14

25

-Mar

-14

31

-Mar

-15

4-A

pr-

14

10

-Ap

r-1

4

16

-Ap

r-1

4

23

-Ap

r-1

4

29

-Ap

r-1

4

6-M

ay-1

4

12

-May

-14

16

-May

-14

22

-May

-14

29

-May

-14

4-J

un

-14

10

-Ju

n-1

4

16

-Ju

n-1

4

20

-Ju

n-1

4

26

-Ju

n-1

4

2-J

ul-

14

9-J

ul-

14

15

-Ju

l-1

4

21

-Ju

l-1

4

US TDP Margins $/mt

-$100.00

$0.00

$100.00

$200.00

$300.00

$400.00

$500.00

Tol-MX Spread BZ-Tol Spread

NOTES:

** Benzene pricing courtesy of the Petrochemical Wire
















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 protected]

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 MTD - $1,512.07

US DDP SPOT BENZENE AVERAGES




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