Over saturation of naphtha storage tanks is hauling over Taiwan's Formosa Petrochemicals due to weak demand for ethylene in the region and a recent maintenance shutdown of its No.3 cracker. As a resullt, Formosa is deciding to postpone its November term cargoes by a month in order to tackle the full tank situation.
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Monday, September 08, 2008
Low ethylene demand, cracker shut down induce Formosa to postpone Nov cargoes by a month
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