In a significant strategic shift, China’s Zhenhua Oil will double its crude oil offtake from Abu Dhabi National Oil Company (ADNOC) to 200,000 barrels per day by year-end, following its appointment as the asset leader for the UAE’s largest onshore oilfield, Bu Hasa. Zhenhua replaced TotalEnergies in January after a competitive bidding process, gaining full […]
In a rare strategic pivot, Reliance Industries has purchased high-sulphur fuel oil from Hindustan Petroleum Corporation Limited (HPCL), signaling a departure from its usual reliance on Russian supplies. According to several industry insiders, Reliance secured two cargoes, each around 33,000 metric tons, through HPCL tenders that closed in late July and early August, with loading […]
Xeneta warns that spot container rates are poised to slide further in the coming weeks as offered capacity continues to outpace demand across several major trade routes. According to Chief Analyst Peter Sand, the latest 90-day extension of U.S.–China tariff levels into early November isn’t likely to spark another surge in cargo shipments. Shippers largely […]
A Polymerduniya source in China has revealed that a domestic trader is offering Saudi-origin HDPE Film (PE) at USD 980/mt, FOB Qingdao port, for delivery in August 2025. This latest price indication underscores competitive regional trade dynamics, particularly as Middle Eastern suppliers continue targeting the Chinese market. In comparison, a Saudi Arabian producer was previously […]
This week, Polyethylene Terephthalate (PET) prices across Asia largely held steady, with no significant movement reported in key regional benchmarks. FOB North East Asia bottle-grade PET was assessed at USD 780–800/mt, remaining unchanged compared to the prior week. A cautious Asia-wide sentiment was underpinned by lingering demand weakness and softer crude and feedstock markets. An […]
Fuhaichuang Petroleum & Petrochemical is on track to resume operations at its Orthoxylene (OX) plant in Gulei by late August 2025, according to a Polymerduniya source. The plant, which has been offline since late June for maintenance, features an annual production capacity of approximately 240,000 mt. Meanwhile, at Zhejiang Petrochemical, the No. 1 polypropylene (PP) […]
On Tuesday, ethylene prices in the United States experienced a mild decline amid subdued market activity and softer deal levels. Spot ethylene delivered to the U.S. Gulf was assessed at 24.00–24.50¢/lb, marking a drop of 0.50¢/lb from Monday’s range. An industry insider observed that “ethylene prices were assessed down in the week amid deals concluded […]
On Tuesday, open-spec naphtha bids for the second half of August gained traction in the Asian market. Bid levels were pegged at USD 571/mt CFR Far East, with ask prices reaching USD 573/mt, both marked USD 3/mt higher than Monday’s assessments. According to a regional market source, maintenance activities across Asia are reshaping demand patterns. […]
As of August 13, the Dalian Commodity Exchange witnessed downward shifts across key polymer futures, signaling a broad-based cooling in domestic petrochemical sentiment. The LLDPE (2509 contract) declined 0.20%, or RMB 15 per ton, closing at RMB 7,313 (USD 846) after trading between RMB 7,305 and RMB 7,338. Polypropylene (PP 2509) saw a slightly steeper […]
Fuhaichuang Petroleum and Petrochemical is poised to resume production at its Orthoxylene (OX) plant in Gulei, after a maintenance-related shutdown. A Polymerduniya source in China confirmed that the facility, offline since late June, is scheduled to restart operations by the end of August 2025. The Gulei-based OX plant holds an annual production capacity of 240,000 […]
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