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RE: Oxbow acquires Chicago Carbon Lemont Assets

Home Forums Coking News: DCU, Upgrader 1.Coker (registered users only) Oxbow acquires Chicago Carbon Lemont Assets RE: Oxbow acquires Chicago Carbon Lemont Assets

#6688

Charles Randall
Participant

Here is an update on the purchase chain of the original Unocal-Citgo JV Stand alone coker/calciner assets.
 
When Unocal sold-off Chicago Carbon calcing plant to Chevron Mining in 2005, it also spun off its Texas Seadrift LLC stand alone needle coker/calciner assets to become Seadrift Coke Ltd. (Recently 18% of which was recently purchased 2008 by GrafTech).  The original Needle coker company ~became defunct at that point because Citgo had purchased back the 2 Lemont needle coke drums and tied them into the fuel coker system and once Seadrift was sold Chicago Carbon it no longer had access to green needle coke. 
 
About month ago Oxbow picked up Chicago Carbon  (rumor one drivers was that Oxbow was losing more of Salt Lake Anode green coke supply to Chicago Carbon & earnings at Chicago Carbon were picking up.  But Chicago also has had good presence in TiO2 industry petcoke that Oxbow competes with via GLC addition and that is also strategic fit.
 
As background – either Seadrift calciner or Lemont Needle Coke calciner have been down in alternating which one is out of service or shutdown since ~2002 and the loss of the equivalent 175kmtpy calcined needle coke put the market demand somewhere between barley balanced to a short position (even before China / India growth ramped up the global Graphite Electrode market demands).
 
Regards

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