SINGAPORE Oct 12 Taiwan's Formosa Petrochemical
Corp has bought two-three cargoes of naphtha
feedstock for its 2.93 million tonnes per year (tpy) cracking
complex, which is currently running at reduced rates, traders
said on Friday.
The cargoes are likely in medium-range vessel size and are
scheduled for November arrival at Mailiao. Price details were
not known but traders said several offers were given to Asia's
top naphtha buyer.
Formosa had previously deferred receiving at least 60,000
tonnes of naphtha in October to November after it had to cut
operational rates at its cracking complex in late September to
80 percent of its capacity following a fire at a monoethylene
glycol plant operated by its sister company Nan Ya Plastics.
Naphtha is cracked into ethylene, among other hydrocarbon
products. Formosa supplies some of its ethylene to Nan Ya
(Reporting by Seng Li Peng; Editing by Jijo Jacob)