Ethylene cargo to arrive in Europe from USA

A cargo of 9,000 ton is to arrive in Europe from USA by end of the month as per ICIS. Freight has been fixed at US$190/ton on the Isabella Kosan, but details of the CFR price in Europe is not immediately available. Spot ethylene in USA was traded at 23.50-23.75 cents/lb FD (free delivered) (US$518-524/ton), higher than US$474/ton in July. Ethylene prices in Europe were assessed in the low-to-mid US$900/ton CIF (cost, insurance, freight) NWE (northwest Europe). Asian ethylene was assessed at $970-1,000/tonne CFR NE ASIA on Monday. US ethylene is priced below Asia and Europe due to ample supply and production cost advantages of ethane over naphtha. Ethylene produced from naphtha is estimated to cost 16 cents/lb (US$353/ton) more than monomer produced from US ethane.
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