Shell Chemicals assesses online benzene trading
Shell Chemicals’ aromatics business has embarked on a pilot test to assess the use of online auctions for selling benzene supply contracts. Contracts for benzene from Shell’s benzene plant at Berre for the year 2002 were auctioned on 24 September.
Customers, current and past, were invited to participate in the auction, which lasted approximately one and a half hours. Contracts are being awarded to the successful bidders.
Rein Willems, Shell Chemicals Limited executive vice president for base chemicals said: "This is the first time that Shell Chemicals has used online trading room technology to sell products for annual contracts. We will be evaluating the auction to assess the added value that this new selling tool can offer all our businesses and customers."
The online auction was enabled by ChemConnect with consultancy from International eChem.
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