Earthquake Turkey PET 13-02-2023 - Arhive
Earthquake Turkey PET
-Koksan and Indorama announce force majeure for the supply of PET after the earthquake in Turkey
Koksan and Indorama Ventures, which own polyethylene terephthalate (PET) plants in Turkey, have declared force majeure due to logistics disruptions following the Feb. 6 earthquake in the country, ICIS reported.
It is not yet clear whether the factories of PET companies are operating at the moment.
Koksan has two PET production lines with a capacity of 216 thousand tons per year in Gaziantep, and Indorama Ventures has a line with a capacity of 270 thousand tons per year in Chorlu. Earthquake Turkey PET
The powerful earthquakes that shook southeastern Turkey earlier this week caused severe fuel shortages in the Middle East and disrupted ports.
In addition, there are disruptions in customs procedures, while financial banking institutions will also face problems, market sources said.
Earlier it was reported that Koksan PET Packaging Industry Co postponed the launch of its plant for the production of polyethylene terephthalate (PET) with a capacity of 230 thousand tons per year in Gaziantep, Turkey. For the second time, plans are shifting from spring to summer 2022, and now to winter. On the first line, repairs can be carried out depending on weather conditions, but in the winter the overhaul did not take place. On the same site there is already a line for the production of primary PET with a capacity of 230 thousand tons per year. Earthquake Turkey PET
According to the ScanPlast survey, the estimated consumption of PET in December 2022 increased by 24% compared to last year. In the reporting month, the estimated consumption of PET amounted to 86.15 thousand tons. In total, by the end of 2022, the total estimated consumption in Russia increased by 2% and amounted to 844.84 thousand tons of PET (830.43 thousand tons in 2021).
Earthquake Turkey PET