Home / Knowledge / News / Textiles / Big time naphtha trader decides to curb operations
Big time naphtha trader decides to curb operations
16
Jan '09
Since the second half of last year, the once vibrant business of petrochemicals has been passing through a difficult phase. Company after company had announced part closures or full closures during the third quarter of 2008, due to the slowdown in the down stream market of the key raw material used particularly in the textile industry.

Now it is the turn of the one of the biggest traders of the raw material; Sojitz Corporation which has announced that it is reducing its exposure to naphtha, by scaling down trading in the petrochemical. The company has put on hold contracts for deliveries in the next eleven months from suppliers of naphtha.

fibre2fashion.com spoke to Mr. Yoshikazu Ichikawa, spokesperson of the company who confirmed the decision of Sojitz and replied by saying, “In line with the company's continuous efforts to regenerate and strengthen its business models, our energy trading department has decided to prioritize and commit further personnel/assets to bio-fuels business going forward into fiscal 2009.”

He added by saying that, “As a result, we will be gradually scaling down our exposure in naphtha trading where we perceive a market price risk. On the other hand, we will continue to maintain our presence in the physical market through both the marketing of mainly our equity sourced barrels of feedstock and trading in all other petroleum products.”

Fibre2fashion News Desk - India


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search