TPS Aromatics Trade Flow Report

BENZENE:
Summary: Movement from Asia into the US waned this week as buy interest faded in the face of declining spot prices. US
spot prices posted consistent losses until the Asia-US spread flipped into negative territory on May 21. Prices have
remained muted however liquidity has increased in recent days with prices posting gains of 2.5 cents/day for three
consecutive sessions. Some participants suggested that the increased by interest was highly correlated to the pending
settlement of the June benzene contract, which was expected to settled in the mid to upper-440’s cents/gal.
ARRIVED/ARRIVING:
Siteam Adventurer - arrived at the Port of Houston on May 14 with just under 36,000 metric tons of benzene.
Siteam Jupiter – carrying at least 12,000 metric tons of benzene, the vessel arrived at LBC Baton Rouge on May 21. The
vessel was last seen in the US Gulf near Corpus Christi, Texas awaiting orders.
Atlantic Sirius – was seen berthed at LBC Baton Rouge on May 24 and heard to be carrying at least 14,000 metric tons of
benzene. The vessel last cast off from the Port of New Orleans on May 27.
Maritime North – carrying at least 6,000 metric tons of benzene and possibly more, was last seen moored at the Port of
Houston, where it arrived on May 28.
FPMC 30 - said to be carrying at least 6,000 metric tons of benzene arrived at the Plaquemine Parish Port on May 27.
The vessel has since been seen in anchorage outside of the Port of Houston.
EN ROUTE:
The vessel Formosa Thirteen, said to be carrying a total of 18,000 metric tons of benzene, was last seen of far off the
coast of Northern California, moving east at 13 knots. Sources said that the vessel was carrying 3 parcels of 6kt apiece
for various parties though confirmation was not immediately available. The ship was slated to arrive in Balboa, Panama
on June 9. (Last update seen at 7:19 p.m. on May 28.)
The vessel Cavatina, heard to be carrying between 15,000-21,000 metric tons of benzene, cast off from the Port of
Nagoya, Japan on May 28. The vessel was last seen moving south-southeast at 10 knots, destined for the Panama Canal.
The vessel was slated to arrive in Balboa, Panama on June 20, according to VesselTracker. (Last signal on May 29 at
12:28 a.m.) **Unconfirmed**
AROMATICS TRADE FLOW REPORT May 29, 2014
Vol 1, Issue 2
Copyright © The Petrochemical Standard 2014 | asiaeds@petchemstandard.com |
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.

TOLUENE AND XYLENES:
Summary: Toluene and xylene prices in the US continued to make the market an attractive destination for imports. MX
prices touched as high as 360 cents/gal ($1,091/mt) on an FOB USG basis while toluene also touched the upper end of
the 350’s cents/gal range. Prices scaled back as the month neared its end. PX prices continued to climb as the US-Asia
arb re-opened. Still imports were destined for the east coast with some 12,000 mt expected to load in June from
Northwest Europe.
ARRIVED/ARRIVING:
Bow Sirius – the vessel was heard to be carrying roughly 8,000 metric tons of toluene, arrived at the Port of Houston on
May 22. The fixture was heard to be a contract parcel from Aratu, Brazil but confirmation was not immediately available.
Harbour Cloud - the vessel was last seen May 29 at 12:39 a.m. moored at the Pot of Houston, near Galena Park. The
ship, which cast off from Barranquila, Colombia.
PRICING AND MARKET DYNAMICS
 The spread between FOB Korea and DDP M2 US flipped into negative territory on May 20, stifling buy interest. Prices
posted rebounds this week however and June closed midweek at $1,339.50/mt DDP USG. With FOB Korea values
closing at $1,270/mt FOB Korea and freight pegged at $63/mt, the Korea-USG spread moved back into positive
territory at $6.50/mt.
 June Spot benzene prices on a DDP USG basis were 6.50 and 1.81 cents above the 5 and 20-day moving averages
Wednesday, which were at 441.58 and 446.19 respectively.

 Benzene prices on a DDP USG basis
averaged 442.40 last week, down
4.50 cents/gal from the previous
week’s average.
 Benzene imports into the USGC
breached the April number of 97,400
mt and were estimated at 100,600
mts as of May 28.
 Margins for operators of HDA and
TDP units moved lower on stronger
feedstock toluene and weaker
benzene, estimated at $31.76/mt
and $70.24/mt, respectively.
 Spot styrene prices in the gained on
stronger feedstock benzene and
were near 69.90 cents/lb FOB USG
midweek as styrene makers saw
margins near $74.10/mt.
 The styrene to benzene spread
reversed course Tuesday, estimated
narrowed this week and was
estimated at $201/mt.
 Spot benzene averaged 469.90 in
April while the MTD average for May
was at 444.89 on May 28.
 The US PX-MX spread stood at $83
this week as stronger demand for
paraxylene bolstered pricing.
 The toluene and xylene blend values
was estimated Wednesday at 345
and 361 cents/gal.
 China’s April benzene imports were
reported at 40,958/mt, down 49%
from March levels.
410
420
430
440
450
460
470
480
490
500
3-Mar-14
6-Mar-14
11-Mar-14
14-Mar-14
19-Mar-14
24-Mar-14
27-Mar-14
1-Apr-14
4-Apr-14
9-Apr-14
14-Apr-14
17-Apr-14
23-Apr-14
28-Apr-14
2-May-14
7-May-14
12-May-…
15-May-…
20-May-…
23-May-…
SPOT BZ M1 DDP USG 5-DAY MOVING AVERAGE 20-DAY MOVING AVERAGE
0
20,000
40,000
60,000
80,000
100,000
120,000
BZ IMPORTS INTO THE US
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
$140.00
3-Mar-14
6-Mar-14
11-Mar-14
14-Mar-14
19-Mar-14
24-Mar-14
27-Mar-14
1-Apr-14
4-Apr-14
9-Apr-14
14-Apr-14
17-Apr-14
23-Apr-14
28-Apr-14
2-May-14
7-May-14
12-May-14
15-May-14
20-May-14
23-May-14
TDP Margins $/mt HDA Margins $/mt
$50
$100
$150
$200
$250
$300
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
11-Mar
14-Mar
19-Mar
24-Mar
27-Mar
1-Apr
4-Apr
9-Apr
14-Apr
17-Apr
23-Apr
28-Apr
2-May
7-May
12-May
15-May
20-May
23-May
Spot M1 BZ Spot M1 SM Spread

FREIGHT RATES
US DDP SPOT BENZENE AVERAGES
H2 March Spot Benzene Average 482.458
H1 April Spot Benzene Average 475.000
H2 April Spot Benzene Average 451.700
H1 May Spot Benzene Average 446.050
H2 May Spot Benzene Average 442.938
 US Gulf to East Asia main ports: $60-64/mt.
 US Gulf to China main ports: $63-67/mt.
 US Gulf to Mumbai: $79-83mt
 Ulsan to US Gulf: $61-65/mt

TPS Aromatics Trade Flow Report

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