Asia Naphtha-Malaysia-based Titan restores full runs at crackers
SINGAPORE Aug 22 (Reuters) - Malaysia-based Lotte Chemical Titan has fully restored operations at its 720,000 tonnes per year (tpy) naphtha cracking complex in Pasir Gudang following an outage in early August, traders said on Thursday.
The petrochemical maker had restarted its 440,000 tpy cracker around mid-August while the smaller 280,000 tpy unit resumed operations earlier this week.
Titan is owned by South Korea's top ethylene maker Lotte Chemical, which operates two crackers totalling 2 million tpy.
Japanese JX Nippon Oil's 404,000 tpy cracker located at Kawasaki however remained shut following an outage around Aug. 18. Traders said they do no expect the Japanese unit to resume operations anytime before end August.
The naphtha feedstock market has been under pressure recently as North Asian buyers now have the option of purchasing cheaper alternative liquefied petroleum feedstock to replace a small portion of the light fuel.
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