Haldia keeps volume at 300000 tons for Dec 08-Nov 09 naphtha from KPC

19-Nov-08

India's Haldia Petrochemicals will lift 300,000 tons of naphtha for December 2008-November 2009, accepting KPC's US$2/ton premium to FOB Middle East quotes. With this, HPL becomes KPC's largest term lifter for the 12-month period, an interesting phenomenon at a time when Asia's top ethylene producer Formosa has cut volumes by 50% for the same period. Other petrochem makers who have renewed contract at the same premium include Maruzen Petrochemical, Mitsubishi Chemical Corp, Petro-Diamond and Formosa Petrochemical Corp.