Additive for transparent biodegradable polycarbonate

Biodegradable additive for polycarbonate applications requiring totally transparent materials has been developed by Bio-Tec Environmental. The company is known for its EcoPure™ additive that accelerattes the biodegradation of plastics.

For more details on Additive for transparent biodegradable polycarbonate click here

US economy growing faster than expected, oil prices rise to US$74

Supported by a robust growth in exports and business spending on equipment and software, the US economy grew at a healthy 5.7% annual growth rate in Q4-09, the fastest pace of growth since 2003. A staatement by the government that the US economy is growing faster than expected suggests a rise in energy consumption and has propped up crude oil prices.

For more details on US economy growing faster than expected, oil prices rise to US$74 click here

Italian PE buyers report yoy improved end demand

Several PE converters in Italy are doing definitely better than the same period of last year, despite the lackluster performance of their end product markets, as per Chemorbis. A buyer who has recentlly concluded his LDPE agreements with West and South European producers paying €100/ton increases stated that end product demand for compounds has improved with respect to 2009 while other converters from the packaging industry also said that their end product demand has been regular in January.

For more details on Italian PE buyers report yoy improved end demand click here

Short supply of prompt PE in Indonesia

In Indonesia, distributors and converters report that the market is facing a shortage of promptly-available PE cargoes, driving spot prices for prompt cargoes sharply higher when compared with the passt week, as per Chemorbis.

For more details on Short supply of prompt PE in Indonesia click here

Spot ethylene prices in Asia remain firm amid weakening crude oil, polyethylenes

In Asia, spot ethylene prices have risen by ten dollar in the past week to US$1365/ton CFR Northeast Asia, as per Chemorbis. Since the beginning of the month, spot ethylene prices have risen by US$2100/ton, with most of the increase occurring in the earlier part of the month.

For more details on Spot ethylene prices in Asia remain firm amid weakening crude oil, polyethylenes click here

New office bearers at IPF Indian Plastics Federation

A new team of office bearers has been elected at Indian Plastics Federation for the year 2009-2010

Mr. Sourabh Khemani - President
Mr. Rajesh Mohta - Vice President
Mr. R.A. Poddar - Hony. Seccretary
Mr.

For more details on New office bearers at IPF Indian Plastics Federation click here

World demand for ABS expanded by 4.5% in 2009

World demand for acrylonitrile-butadiene-styrene (ABS) expanded by 4,5% in 2009 although the demand was considerably affected by output reductions in the automotive industry, as per MarketPublishers.ccom.

For more details on World demand for ABS expanded by 4.5% in 2009 click here

Benzene supply and pricing in Europe to be manipulated by cracker and reformer operations

Benzene demand in Europe declined essentially in Q1-09 compared with Q1-08. Demand improved by the end of 2009, although it's still faced with difficulties as the recession affects the derivative perfformance as per a report by MarketPublishers.

For more details on Benzene supply and pricing in Europe to be manipulated by cracker and reformer operations click here

New armor system using aramid (Kevlar®) fibers

Naxcer Composites Group, specializing in new manufacturing technologies for composite materials has announced development of its new armor system. A novel manufacturing process has been developed usinng aramid (Kevlar®) fibers.

For more details on New armor system using aramid (Kevlar®) fibers click here

Kuwait and Dow Chemical Co resume talks?

Unconfirmed reports claim resumption of talks between Kuwait and Dow Chemical Co, possibly for settling a US$2.5 bln penalty which has been associated with a kaput US$17.4 bln petrochemical deal. Will

For more details on Kuwait and Dow Chemical Co resume talks? click here

DSM announces start up of wet polyester, specialty resins plant in Germany

Royal DSM N.V. has started up a new plant for the production of wet polyesters and other specialty resins at the existing site of DSM NeoResins in Meppen (Germany) at an investment outlay of €15 mln. Further expansion of capacity is possible in the future.

For more details on DSM announces start up of wet polyester, specialty resins plant in Germany click here

US propylene producers seek to hike prices for February contracts

US propylene producers have nominated increases of up to 14% for February contracts, due to tight supply amid low refinery operating rates. This will extend an uptrend that began in November, when conntracts started to climb on the back of tight supply of the main feedstock- refinery-grade propylene (RGP).

For more details on US propylene producers seek to hike prices for February contracts click here

Japanese mull departure from Thailand if Map Ta Phut issue remains unresolved

Japanese companies may consider departure from Thailand if the Map Ta Phut issue remains unresolved for an extended period. They mull to relocate their Thai operations if the controversy over the susppension of industrial projects drags on for over six months, as per the Japanese Chamber of Commerce.

For more details on Japanese mull departure from Thailand if Map Ta Phut issue remains unresolved click here

Asian naphtha prices at 6 week lows, cracks at 4 week lows, in anticipation of growing supplies

Concern over mounting supplies ahead have pulled down naphtha prices in Asia to 6 week lows, while cracks are at around 4 week lows, despite demand from Japan.

Idemitsu has bought a parcel for H1-MMarch arrival at premium of US$11/ton to Japan spot quotes, C&F.

For more details on Asian naphtha prices at 6 week lows, cracks at 4 week lows, in anticipation of growing supplies click here

South Korean PVC to China dips to unusually low levels in H2-08, replaced by American PVC

According to statistics from Chinese customs, imports of South Korean PVC have dipped to unusually low levels in H2-08 in view of the massive upsurge in overall polymer imports into China. As per Chemmorbis, other global markets report seeing an increasing number of offers for South Korean cargoes at or close to par with the offer levels seen in China.

For more details on South Korean PVC to China dips to unusually low levels in H2-08, replaced by American PVC click here

China’s plastics imports peaks to all time highs :45% growth in 2009

China imported approximately 1,495,000 tons of polymers in December, according to statistics revealed by China’s Customs. After the steep decrease of imports witnessed in October, there was a slight rrebound in November, traced by a larger increase in December, as per Chemorbis.

For more details on China’s plastics imports peaks to all time highs :45% growth in 2009 click here

Xpro India commences commercial production at third thermoforming line at Ranjangaon

Xpro India has commenced commercial production at the its third thermoforming line at Ranjangaon, Pune (Maharashtra) with effect from Jan. 27, 2010.
The product portfolio consists of bi-axially orieented polypropylene (BOPP) films, specialty co-extruded cast films, co-extruded sheets, synthetic resins, and thermoset molding machines.

For more details on Xpro India commences commercial production at third thermoforming line at Ranjangaon click here

PTT Chemical mulls capacity expansion in neighbouring countries

Leading Thai petrochemical maker PTT Chemicals, with most expansions in Thailand, is exploring future investment opportunities in nearby countries. The company wants to follow its strategy to look at opportunities to extend our business further along lines that fit our strategies and expertise.

For more details on PTT Chemical mulls capacity expansion in neighbouring countries click here

Suppliers from Middle East hike polymer offers for February by up to US$250/ton

Middle East suppliers have hiked regional polymer offers for February by US$130-250/ton vs January offers in line with high feedstock costs and tight supply, as per ICIS. These increased offers contraadict market expectations of a price decline.

For more details on Suppliers from Middle East hike polymer offers for February by up to US$250/ton click here

Oil prices continue their two week slide to dip to US$74

Benchmark crude for March delivery has settled at US$73.6 on the New York Mercantile Exchange, the lowest settlement price since Dec. 14. Crude oil prices continue on their two week downturn on weakerr demand.

For more details on Oil prices continue their two week slide to dip to US$74 click here

HPCL offers 20,000 tons of naphtha for February amid 3 week low cracks

India's Hindustan Petroleum Corp Ltd (HPCL) has offered 20,000 tons of naphtha for February lifting, amid three weak low naphtha crack levels on weakening market outlook of softer demand. Sellers are prepared for the low premiums as demand has started to wane ahead of multiple cracker maintenance shutdowns in the region.

For more details on HPCL offers 20,000 tons of naphtha for February amid 3 week low cracks click here

Mitsui and Nabaa mull US$20 bln petrochemical complex in Yanbu

Japan’s Mitsui & Co and Saudi Arabia’s Nabaa Industrial Development and Investment Co are mulling cooperation for a US$20 bln petrochemical complex in Yanbu, subject to results of a feasibility study to be concluded by June this year.

For more details on Mitsui and Nabaa mull US$20 bln petrochemical complex in Yanbu click here

Offers for Chinese PP raffia resurface in Vietnam

Several distributors in Vietnam report that offers for Chinese PP raffia have reappeared in the market recently, with some sources speculating that this could be a sign of deficient sales in China by domestic producers, as per Chemorbis.

For more details on Offers for Chinese PP raffia resurface in Vietnam click here

Rising ethylene costs firm outlook for polyethylene in Europe for February

Persistent derivative demand amid limited supplies has been pushing up ethylene prices as spot prices have risen by about €80-85/ton this month in Europe. As per Chemorbis, despite recent losses in thhe energy markets, firmer ethylene prices were seen in Europe, supported by supply concerns due to cracker problems in the region.

For more details on Rising ethylene costs firm outlook for polyethylene in Europe for February click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 25, 2010

CRUDE OIL
Oil prices fell by almost 5% in the week of January 25, 2010. As Wall Street dropped for a third consecutive session, oil prices have fallen tto US$74.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 25, 2010 click here

Jurong Aromatics Corp to resume project in Singapore

Jurong Aromatics Corporation (JAC)’s US$2 bln petrochemical development projected, that had been deferred by two years is finally on its way to being constructed. Impacted by a dearth of project fundding durng the global economic meltdown, JAC had put the project on hold.

For more details on Jurong Aromatics Corp to resume project in Singapore click here

IRPC’s future plans on hold

As per Thai petrochemical giant IRPC’s plans, construction on 16 of 19 projects was to commence in 2010 at an investment outlay of US$1.2 bln spread over 5 years. However, the construction of these prrojects seems likely be delayed, as petrochem players await a solution to the Map Ta Phut mess.

For more details on IRPC’s future plans on hold click here

Haldia Petrochem completes Project Supermax; to reopen with higher capacity

Haldia Petrochemicals (HPL) has completed Project Supermax, augmenting ethylene capacity and is ready to reopen shortly, after a three month expansion shutdown. The naphtha cracker has been shut sincee November 2009 to commission the Rs 1230 crore Project Supermax, aimed at increasing ethylene capacity from 520,000 tpa to 670,000 tpa.

For more details on Haldia Petrochem completes Project Supermax; to reopen with higher capacity click here

Indorama confident of solving chemical leak problems in Map Ta Phut by given deadline

An acetic acid leak at Indorama Petrochem that occurred on December 24 and 25 at Map Ta Phut Industrial Estate, Rayong province, has caused a foul smell in the area. The company is certain that it cann resolve this issue by the deadline of February 15 set by the Industrial Estate Authority of Thailand.

For more details on Indorama confident of solving chemical leak problems in Map Ta Phut by given deadline click here

Recovery in housing to benefit cellular vinyl, not WPCs

Residential decking and railing demand is expected to improve in 2010 compared to 2009 as home construction and R&R recovery begins a development that will benefit cellular vinyl but not wood-plasticss composites (WPC), according to a new study by Principia Partners.

For more details on Recovery in housing to benefit cellular vinyl, not WPCs click here

Naphtha cracks in Asia ease, prices plunge to five week lows on increased supply

Naphtha prices in Asia Asian plunged to 5 week lows and naphtha cracks have eased in anticipation of increased supplies. Over 200,000 tons of Western naphtha has been put on
subjects for February liffting from Europe and the Mediterranean to Asia.

For more details on Naphtha cracks in Asia ease, prices plunge to five week lows on increased supply click here

World Terephthalates and Polyester Analysis

Population growth and increasing per capita consumption by a growing middle class in the emerging markets primarily drives fiber demand growth, as per CMAI. Among both natural and synthetic fibers, poolyester fiber, due to its ample availability, advantaged cost position and versatile performance characteristics relative to competing materials, is capturing the largest share of demand growth for fibers.

For more details on World Terephthalates and Polyester Analysis click here

Reduced naphtha exports from ADNOC adds to Asia’s supply woes

A surprise move by Abu Dhabi National Oil Co (ADNOC) to reduce splitter naphtha export volumes for January-February lifting by around 10% has added to Asia’s supply woes. This reduction is the result of lower condensate splitter runs at ADNOC; at a time of disruptions to supplies from other Middle Eastern producers.

For more details on Reduced naphtha exports from ADNOC adds to Asia’s supply woes click here

Maoming Petrochemical Corp to conclude naphtha cracker maintenance by end of month

Maoming Petrochemical Corp is expected to conclude a maintenance turnaround at its 640,000 tpa naphtha cracker by month end. The 1 mln tpa ethylene plant was shutdown for a period of 30 days since endd of December.

For more details on Maoming Petrochemical Corp to conclude naphtha cracker maintenance by end of month click here

South Korea’s reliance to enhance production on robust petrochemical demand from China to continue

South Korea will continue to rely on China’s consumption to enhance its petrochemical production, but the strong demand witnessed in 2009 may not be repeated this year, as per ICIS. Additional Chinesee demand for South Korean petrochemicals was witnessed as rivals in Taiwan could not meet demand on plant problems.

For more details on South Korea’s reliance to enhance production on robust petrochemical demand from China to continue click here

Indorama raises US$123 mln from IPO reduced by more than half

Thai based Indorama Ventures, a company focusing on polyester, will become the first company to go public in Thailand since April 2008 after pricing its initial public offering (IPO) at the bottom of the range.

For more details on Indorama raises US$123 mln from IPO reduced by more than half click here

Domestic PP, PE prices continue to rise in Indonesia

Domestic PP and PE prices continue to gain ground this week in Indonesia due to extremely limited avails domestically amid higher feedstock prices. As per Chemorbis, domestic PP producers announced ann increase of US$30/ton on their offers this week, their fourth increase of the month.

For more details on Domestic PP, PE prices continue to rise in Indonesia click here

Asian PVC offers rise, healthy buying interest from China for March

Offers for import PVC offers to Asia announced in mid-January were raised by US$70-90/ton vs January prices. Most producers have reported sales for the better part of their February allocations at or close to their initial offer levels, with additional price hikes announced by several sellers on their remaining February allocations, as per Chemorbis.

For more details on Asian PVC offers rise, healthy buying interest from China for March click here

Braskem’s acquisition of rival Quattor creates entity that will produce 100% of Brazil's PE, PP and PVC

Months of speculation have come to an end in Brazil with the acquisition of Quattor by Braskem. In a move that will further expand and consolidate Brazil’s petrochemical industry to face global compettition, the country’s petrochemical giant Braskem SA has agreed to acquire its rival Quattor Petroquimica SA (Quattor).

For more details on Braskem’s acquisition of rival Quattor creates entity that will produce 100% of Brazil's PE, PP and PVC click here

10% sales growth anticipated by SCG this year

As raw material prices rise and the economy shows signs of improvement, Thailand’s largest industrial conglomerate - Siam Cement Group, expects its sales to grow by 10% in 2010.
Prices of HDPE has iincrease by over 55% since Q1-09, paper prices have also increased and local cement consumption is expected to grow by 5-10% this year as the economy has shown clear signs of recovery in the past 10 months.

For more details on 10% sales growth anticipated by SCG this year click here

Crude oil dips to US$75 levels

A Wall Street dropped for a third consecutive session, oil prices have fallen to US$74.5 on the Nymex, and to US$72.83 on the ICE Futures exchange in London. Oil prices are weakening amid ongoing conccerns about weak energy demand and a third day of selloff in US stock markets.

For more details on Crude oil dips to US$75 levels click here

Borealis announces price hikes for all polyethylene and polypropylene grades

Following Ineos Nova and BASF, Borealis has announced plans to increase all polyethylene and polypropylene prices by €100/ton with effect from 25 January. With this price hike decision, the Austrian mmajor will become the third plastics manufacturer to raise prices since the beginning of 2010, as per packagingnews.

For more details on Borealis announces price hikes for all polyethylene and polypropylene grades click here

Sluggish market sentiments for PP in China

In China, PP sellers complain about the sluggish market sentiment as buyers are hesitant to make purchases amidst bearish crude oil prices and the price cuts from the domestic producers as per Chemorbbis.

For more details on Sluggish market sentiments for PP in China click here

Restricted avails in domestic market prompts greater PP, PE buying interest in Indonesia

In Indonesia, persistent supply tightness in the country’s local PP and PE markets has pushed converters in the local market to increase pace of their purchases out of fears that tightening supply couuld force sellers to seek further price hikes over the near term, as per Chemorbis.

For more details on Restricted avails in domestic market prompts greater PP, PE buying interest in Indonesia click here

Firm propylene costs prop up PP prices in Europe

In Europe, the propylene market remains on a bullish note, in accordance with delivery disruptions from harsh weather conditions in the region, the ongoing tightness, good demand and squeezed cracker margins, as per Chemorbis.

For more details on Firm propylene costs prop up PP prices in Europe click here

PIC declares force majeure to customers of its aromatics plant

Kuwait's state-run Petrochemical Industries CoPetrochemical Industries Co. has declared force majeure to customers of its aromatics plant. This decision has been triggered after last week’s outage duee to a technical failure in a compressor that could extend restart to next week.

For more details on PIC declares force majeure to customers of its aromatics plant click here

US demand for extruded plastics projected to grow to 34 bln lbs in 2013

Demand for extruded plastics in the US is projected to grow 2.6% pa to 34 bln lbs in 2013, valued at US$23 bln (resin content only) as per Freedonia. Resins will account for 40% of the US$59 bln finall product cost.

For more details on US demand for extruded plastics projected to grow to 34 bln lbs in 2013 click here

Oil leak at Mitsui Chemicals’ 455,000 tpa Osaka naphtha cracker injures two

Japan's Mitsui Chemicals’ 455000 tpa naphtha cracker at Osaka has sprung an oil leak that has not had any major impact on the cracker's operations. Two workers suffered minor burns in the leak that diid not cause a fire.

For more details on Oil leak at Mitsui Chemicals’ 455,000 tpa Osaka naphtha cracker injures two click here

Oil falls as OPEC confirms inventories to meet winter demand, trims demand estimates

Continuing its recent downtrend, oil prices have dipped below the US$78 mark on OPEC confirmation of ample supply to meet winter demand and trimmed oil demand estimates to an average 28.59 mln bpd in 2010, 20,000 bpd less than expected last month.

For more details on Oil falls as OPEC confirms inventories to meet winter demand, trims demand estimates click here

SABIC reports surge in Q4-09 profits on improved demand and prices for its key products

SABIC has recorded an upsurge in Q4-09 net profit of SR 4.58 bln (US$1.22 bln) on recovering demand and prices for its key products. The Saudi major had posted just SR 311 mln (US$82.9 mln) a year agoo.

For more details on SABIC reports surge in Q4-09 profits on improved demand and prices for its key products click here

ONGC to lend to MRPL for expansion projects

State refiner Oil and Natural Gas Corporation (ONGC) will lend Rs.5000 crore to its subsidiary Mangalore Refinery and Petrochemicals (MRPL) for it's expansion projects. MRPL plans to expand refinery ccapacity to 15 mln tpa from the current 9.

For more details on ONGC to lend to MRPL for expansion projects click here

Innovative plastic breakable ampoule to replace conventional glass-based ampoules

An innovative plastic breakable ampoule technology that will replace conventional glass-based ampoules that are opened by snapping away the neck has been designed and patented by French plastic converrter Seriplast.

For more details on Innovative plastic breakable ampoule to replace conventional glass-based ampoules click here

Satorp awards contract for compressor trains for Jubail export refinery

The Saudi Aramco Total Refining & Petrochemical Co. (Satorp) has hired Elliott Co. to supply all 17 compressor trains required for the joint venture’s export refinery to be built in Jubail, Saudi Arabbia.

For more details on Satorp awards contract for compressor trains for Jubail export refinery click here

Bankruptcy judge gives Lyondell more time to exclusively file a plan of reorganization

A bankruptcy judge in USA has given the bankrupt chemicals company Lyondell Chemical Co. time until April 15 to exclusively file a plan of reorganization. Additionally he has denied a creditors' motioon to expand a probe into some of the company's restructuring methods and also denied a motion to stop so-called adequate protection payments of about US$40 mln per month to first-lien lenders, since such an act would cause the company to default on its bankruptcy financing agreement.

For more details on Bankruptcy judge gives Lyondell more time to exclusively file a plan of reorganization click here

Haldia Petrochem delays restart of revamped naphtha cracker

Haldia Petrochemicals Ltd’s recently revamped naphtha cracker has seen a delay in start up by over a week. In end-October, HPL had shut its plant for a 75-day maintenance and expansion schedule, augmeenting nameplate capacity by 30% to around 676,000 tpa.

For more details on Haldia Petrochem delays restart of revamped naphtha cracker click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 18, 2010

CRUDE OIL
As the dollar weakened, crude oil for February delivery rose to US$78.6 in electronic trading on the Nymex, rising for the first time in six dayys after falling by 5.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 18, 2010 click here

Domestic Polyethylene prices soften in China despite firm ethylene prices

Domestic producers have lowered their PE prices in China, especially in the LLDPE c4 film market at the beginning of the week, as per Chemorbis. Decreases of CNY200-300/ton (US$30-43/ton) can be attriibuted to the softening market sentiment along with lower energy and LLDPE futures prices.

For more details on Domestic Polyethylene prices soften in China despite firm ethylene prices click here

Rising PVC prices in Asia, USA, expected to firm up in the month ahead

Although January is generally a slow month for PVC demand in the Northern Hemisphere, PVC prices in Asia and the US have seen significant increases this month with sellers generally predicting that prrices will continue to firm up, as per Chemorbis.

For more details on Rising PVC prices in Asia, USA, expected to firm up in the month ahead click here

Petrobras to ready new plans for Comperj petrochemical refinery soon

Brazil’s state-run energy giant Petrobras’ new plans for the Comperj petrochemical refinery are slated to be ready this week, and will be forwarded to the board for approval at its next meeting. Petroobras plans to change the scope of the Comperj complex to include fuel processing, envisioning a module that will be devoted to producing diesel oil from heavy oil.

For more details on Petrobras to ready new plans for Comperj petrochemical refinery soon click here

Crude oil rises for the first time in six days

As the dollar weakened, crude oil for February delivery rose to US$78.6 in electronic trading on the Nymex, rising for the first time in six days after falling by 5.7% last week. This week’s dip is thhe first weekly decline in five weeks.

For more details on Crude oil rises for the first time in six days click here

Saudi mulls construction of petrochemical plant with planned Jizan oil refinery

Saudi Arabia is mulling to commission the construction of a petrochemical plant with the planned new Jizan oil refinery in the kingdom. The Jizan refinery, with capacity of 250,000-400,000 bpd of crudde, to be built at an investment of US$10 bln will be the first Saudi oil refinery to be 100% privately-owned.

For more details on Saudi mulls construction of petrochemical plant with planned Jizan oil refinery click here

PP prices rise in Europe amid concerns over outlook for the year

Though Polypropylene (PP) buyers in Europe are shelling out to pay price increases in January, buying is being done on a hand-to-mouth basis before February propylene settlement, amid concerns over thhe outlook for the year as per ICIS.

For more details on PP prices rise in Europe amid concerns over outlook for the year click here

Ethylene production in Japan up 30.3% in December 2009 vs December 2008

Ethylene production in Japan has risen 30.3% to 663,400 tons in December 2009 as compared to 509,000 tons in December 2008, as per the Ministry of Economy, Trade and Industry. These figures also indiccate a 4.

For more details on Ethylene production in Japan up 30.3% in December 2009 vs December 2008 click here

February ACN prices to rise to US$2000/ton in Asia

Acrylonitrile (ACN) prices in Asia are poised to rise to US$2000/ton in February triggered by a supply crunch, strong demand from China and rising feedstock propylene costs, as per ICIS. Spot offers ffor next month surged by almost US$200 since mid December to US$2000-2100/ton CFR, as supply was constrained by a flurry of plant turnarounds in Asia and outages in Europe.

For more details on February ACN prices to rise to US$2000/ton in Asia click here

PP based, high-clarity copolymer extrusion and injection blow molding applications

The first-of-its-kind polypropylene-based, high-clarity copolymer for potential use in extrusion and injection blow molding applications is the latest addition to LyondellBasell's innovative family off metallocene-based resins.

For more details on PP based, high-clarity copolymer extrusion and injection blow molding applications click here

Domestic PP, PE, PVC offers increased in India, PVC roll over in Egypt

distributor in India reported that domestic producers lifted their offers for a number of polymer products to the local market this week. According to the distributor, domestic offers were announced with increases of US$44/ton for HDPE, LLDPE, LDPE and PVC while domestic PP offers were announced with an increase of US$88/ton from the previous week, as per Chemorbis.

For more details on Domestic PP, PE, PVC offers increased in India, PVC roll over in Egypt click here

Sinopec and SABIC inaugurated new petrochemical complex in Tianjin

Sinopec Corp and SABIC have inaugurated their new petrochemical complex, built at an outlay of US$2.7 bln in Tianjin yesterday. The 50:50 joint venture named Sinopec SABIC Tianjin Petrochemical Co Ltdd, has been formed to build and operate the .

For more details on Sinopec and SABIC inaugurated new petrochemical complex in Tianjin click here

Pequiven shuts two plants on electricity regulation in Venezuela

Electricity rationing has forced Venezuelan petrochemical company Pequiven to shut two of its three plants. The products for which production has been hit have not been specified. Evaluation is underwway to determine which lines of production can be operated alternatively.

For more details on Pequiven shuts two plants on electricity regulation in Venezuela click here

ONGC, MRPL realize lower premium on 130,000 tons of naphtha for February-May lifting

Mangalore Refinery and Petrochemicals Ltd (MRPL) and Oil & Natural Gas Corp (ONGC) have realized lower premiums on 130,000 tons of naphtha for February-May lifting. Spot premiums for next month have bbeen impacted by the expected arrival of naphtha from the West.

For more details on ONGC, MRPL realize lower premium on 130,000 tons of naphtha for February-May lifting click here

Petrochemical companies in South Korea plan to invest US$12.86 bln till 2012

South Korea's petrochemical companies plan to invest a combined 14.4 trillion won (US$12.86 biln) from 2010 to 2012. About 4.7 trillion won will be spent in 2010, 5.9 trillion won in 2011 and 3.8 trilllion won in 2012.

For more details on Petrochemical companies in South Korea plan to invest US$12.86 bln till 2012 click here

Crude oil falls for fifth consecutive day

Benchmark crude for February delivery has dropped to US$78 a barrel on the Nymex. Crude-oil prices have weakened for the fifth consecutive day on release of economic data from USA that failed to conviince that the speed of economic recovery would be fast enough to augment energy demand.

For more details on Crude oil falls for fifth consecutive day click here

Indonesia’s Tri Polyta mulls 30% capacity expansion

In a move to benefit form rising domestic demand and maintain its 40% market share, Indonesia’s Tri Polyta plans to increase production capacity by about 30% to 480,000 tpa. An investment outlay of Rpp 300 bln (US$32.

For more details on Indonesia’s Tri Polyta mulls 30% capacity expansion click here

HPCL mulls investment of over Rs 20,000 crore for greenfield refinery project in Maharashtra

To overcome the limitations of expanding its existing refinery in Mumbai, state-run Hindustan Petroleum Corporation (HPCL) plans to invest Rs 20,000 crore to set up a greenfield project in Raigad or RRatnagiri districts of Maharashtra, to refine 9-15 mln tpa of crude oil.

For more details on HPCL mulls investment of over Rs 20,000 crore for greenfield refinery project in Maharashtra click here

Lower naphtha imports from Europe likely to Asia on rising freight, stronger premiums on fresh bookings

Asia is likely to see a lower pool of naphtha imports from Europe, as freight costs increase and premiums get stronger, restricting fresh bookings, as per ICIS. The arbitrage window was effectively cllosed, as the economics of the East-West spread had narrowed to US$17-18/ton from around US$22/ton.

For more details on Lower naphtha imports from Europe likely to Asia on rising freight, stronger premiums on fresh bookings click here

The Future of the Light Olefins Markets to 2020

China will be the principal driver for global light olefins demand up to 2020 as per a report by Research and Markets. The rapid increase in downstream capacity additions of polyethylene and polyproppylene, two of the largest end use segments of light olefins, and the fast growth of exports were the main drivers of light olefins demand in China.

For more details on The Future of the Light Olefins Markets to 2020 click here

New PP for innovative stormwater management systems

Hostalen, a new polypropylene (PP) resin that meets customer requirements for innovative stormwater management systems has been launched by LyondellBasell Industries. The new, natural PP copolymer useed in injection-molded rainwater regulating devices for channel drainage and total sewer systems.

For more details on New PP for innovative stormwater management systems click here

Trader in SE Asia lift offers for Indian homo-PP by US$80 in line with suppliers hike

A trader in Southeast Asia reported that they lifted their offers for Indian homo-PP to the region this week by US$80/ton in accordance with their supplier’s price hikes, bringing the trader’s currentt offers for Indian homo-PP injection and raffia to US$1380/ton CIF SEA, cash, as per Chemorbis.

For more details on Trader in SE Asia lift offers for Indian homo-PP by US$80 in line with suppliers hike click here

Is the rally in Asian polyethylene markets fizzling out?

The rally in Asia’s PE markets has started to fizzle out after robust buying pushed up prices since the beginning of the year. This can be attributed to the decision by the Chinese Central Bank to raiise reserve requirements along with softening crude oil and naphtha feedstock costs, dampened buying interest in China, with some buyers expressing hopes that prices would retreat from their early week highs to more workable levels, as per Chemorbis.

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Thai PTT Plc aims to complete merger of its four petrochemical and refining units by 2012

PTT Plc aims to complete the merger of its four petrochemical and refining units by 2012. Thailand’s number one energy company expects to conclude the merger plan of three listed subsidiaries - PTT Arromatics and Refining Plc (PTTAR), PTT Chemical Plc (PTTCH) and IRPC Plc - within Q1-2010.

A judge clears path for resumption of merger talks between Braskem and Quattor

A Rio de Janeiro judge has removed an injunction prohibiting negotiations between two Brazilian petrochemicals majors Braskem and Quattor. A possible merger between the two will result in further conssolidation of the Brazilian petrochemicals industry, leading to virtual monopoly in Brazil, as Quattor is feared to disappear as a company in any merger with much larger Braskem.

West Bengal PCPIR facing resistance from environmental groups and political rivals

The West Bengal PCPIR to be located in Nayachar, is facing resistance from environmental groups and political rivals. Nayachar was chosen primarily for its proximity to Haldia. Indonesia’s Salim groupp is looking to develop the hub in coordination with the state-run refiner Indian Oil Corporation Ltd.

Asian naphtha cracks rebound to highest level in 25 days on firm sentiment despite weaker premiums

Asian naphtha cracks rebounded to their highest in 3 and a half weeks as market sentiments firmed up at a time of weaker premiums coupled with Taiwan having fulfilled its February needs.

Taiwan's Formosa bought up to 150,000 tons of naphtha for H2-February arrival at a premium of about US$12.

Idemitsu buys naphtha from BPCL by tender for the first time in over a year

Idemitsu Kosan Co. no longer holds a December-November term contract with Kuwait since last year. The Japanese petrochemical maker has bought a naphtha cargo from India’s Bharat Petroleum Corp Ltd (BPPCL) by tender for the first time in over a year at a premium of around US$35/ton to Middle East quotes, FOB basis.

Sudden outage shuts Kuwait Petroleum Corp’s newly commissioned aromatics plant

A sudden outage at Kuwait Petroleum Corp (KPC)’s newly commissioned aromatics plant- KARO, has shut the plant for 5 days.
As per market estimates, the plant was running at around 65% capacity, and aa small shutdown will lead to a small production loss.

Taiwan’s petrochem industry to grow over next five years, to be pressured by increased competition from China

The Taiwanese petrochemicals industry is set to witness significant growth in capacity over the next five years, but will come under pressure from increased competition in the Chinese market as regionnal output growths and naphtha prices increase, according to a report by BMI.

Taiwan’s petrochem industry to grow over next five years, to be pressured by increased competition from China

The Taiwanese petrochemicals industry is set to witness significant growth in capacity over the next five years, but will come under pressure from increased competition in the Chinese market as regionnal output growths and naphtha prices increase, according to a report by BMI.

New Functionalities added to technology to predict the mechanical behavior of filled polymers

Rhodia has announced that it is offering its customers three new functionalities which have been added to its technology for predicting the mechanical behavior of filled polymers, MMI Confident Designn™.

Domestic PVC offers rise amid slow moving activity in China

In China, domestic PVC k67-68 offers have increased for acetylene and ethylene based PVC vs last week, as overall market activities slowed today, especially for acetylene based PVC, as per Chemorbis.
This week, distributors ethylene based PVC offers indicate a CNY250/ton (US$36/ton) increase at the low end, while they remain stable at the high end at CNY7600-8000/ton on FD China, cash including VAT basis, US$951-1001/ton without VAT incl delivery.

Tatneft in talks to refinance a US$2 bln to construct a refinery and petrochemical complex

Russian oil firm Tatneft is in talks to refinance a US$2 bln loan signed in April 2008 to construct a refinery and petrochemical complex. The project includes an aromatics complex with a capacity of 1151,000 tpa of paraxylene, a 1.

MRPL plans to speed fund flows into Phase III Refinery, PP unit, CDU/VDU revamp project

Mangalore Refinery and Petrochemicals Limited (MRPL) plans to speed up until 2011, fund flows into three major projects - the Phase III Refinery project, the Polypropylene unit and the CDU/VDU revamp project.

MRPL plans to speed fund flows into Phase III Refinery, PP unit, CDU/VDU revamp project

Mangalore Refinery and Petrochemicals Limited (MRPL) plans to speed up until 2011, fund flows into three major projects - the Phase III Refinery project, the Polypropylene unit and the CDU/VDU revamp project.

10% dip in ADNOC’s Jan-Feb naphtha supplies on reduced runs at condensate splitters

Aggravating naphtha supply problems in Asia is the abrupt decision by Abu Dhabi National Oil Co (ADNOC) to reduce splitter naphtha export volumes for January-February lifting by around 10% and also too defer few shipments to Asia to a later date in the same month; on lower condensate splitter runs.

China’s surprise monetary tightening could impact the buoyant mood in regional petrochem trading

China’s central bank; the People’s Bank of China (PBoC) has taken clear measures to curb aggressive lending. PBoC announced plans to raise its reserve requirement (a portion of deposit that banks mustt park with the central bank) by 50 basis points to 16% on 18 January and has raised interest rates for its one-year bills by eight basis points to 1.

Crude oil prices dip below US$80

Crude oil prices dipped below US$80/barrel on release of report by the Energy Information Administration that oil supply in USA grew by 3.7 mln barrels last week, well above the average for this time of year, while gasoline supplies grew by 3.

46 new petrochemical complexes planned by Iran in next calendar year to boost capacity by 50 mln tons

Iran’s 20-Year Outlook Plan envisions petrochemical output to reach 100 mln tons by 2015. In a bid to meet these targets, Iran plans construction of 46 new petrochemical complexes in next calendar yeaar (to begin March 21) to boost its production capacity by 50 million tons.

Ineos Phenol and Sinopec Yangzi Petrochemical plan JV for China’s largest phenol and acetone

Ineos Phenol and Sinopec Yangzi Petrochemical are in the process of planning a JV to build and operate China’s largest phenol and acetone manufacturing site at the Nanjing Chemical Industrial Park. Thhe new facility will produce 400,000 tpa of phenol, 250,000 tpa of acetone and 550,000 tpa of cumene.

Polymer grade with excellent friction properties

Compared to all previous versions in BASF’s high performance resin range, Ultrason KR 4113, a representative of the polyethersulfone product line (PESU), offers hitherto unique friction characteristiccs.

February PP deals concluded much higher than last month in China

According to market players in China, a couple of overseas producers have managed to conclude February deals for PP about US$100-150/ton higher from their January levels, as per Chemorbis; mainly due to higher propylene feedstock costs, and their restricted availability.

Jan PE offers from Middle East to Malaysia US$100 above December offer

A Middle Eastern producer announced a US$100-110/ton increase in January PE offers to Malaysia this week, vs their December offer levels, as per Chemorbis. This was in line with the market expectationns given the sharp increase in import prices recently recorded in regional import prices, resulting in new offers at US$1380/ton CIF Malaysia, cash for HDPE film and blow moulding; US$1450-1460/ton with the same terms for LLDPE film.

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Higher upstream costs lead to additional hikes in PS prices, globally making buyers nervous

Higher upstream costs and globally firm styrene markets have led to additional hikes in price of polystyrene (PS) over December levels, as per Chemorbis. December saw PS prices in Asia persistently laagging behind production costs when spot styrene prices rose by over US$150/ton since early December, and by more than US $250/ton in Europe.

Indorama to raise US$347 mln in Thailand's biggest IPO since 2006

Indorama Ventures, the parent of Indorama Polymers, plans to raise US$347 mln in an initial public offering (IPO) on Thailand's stock exchange in the country's biggest IPO since 2006. The IPO will be priced around Jan 23 after a management roadshow that ends on Jan 18, the term sheet said.

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Nama Chemicals receives US$56 mln loan to finance expansion of epoxy resins plant

Saudi Arabia’s Nama Chemicals Co. has received a SR210 mln (US$56 mln) loan from the Saudi Industrial Development Fund to finance the expansion of its epoxy resins plant is for 8 years.





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European polyethylene buyers face heavy pressure

Low inventory levels amid soaring upstream costs have pushed up polyethylene offers by almost 10% in Europe. PE buyers in Europe are facing heavy pressure to pay higher prices in January as per ICIS. Producers’ stocks were low as production had been cut back to avoid a repeat of the crash in prices in Q4-08.

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Higher import offers push up domestic PP prices in Indonesia

Domestic PP prices increased at the beginning of this week in Indonesia, with most sources attributing the rise in price to higher import offers, as per Chemorbis. Following the US$30/ton price increaase implemented last week, producers announced an additional price hike, bringing the total increase in the New Year to US$60/ton.

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Local LDPE and LLDPE film supplies tighten in Egypt

In Egypt, players reported that the overall LDPE and LLDPE c4 film availability in the local market has started to tighten leading to price increases as per Chemorbis. Locally held LLDPE c4 film pricees moved up by US$45-109/ton on the week to US$1391-1482/ton without VAT.

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Buyers in SE Asia anticipate competitive prices in February

2010 has brought significant polymer price increases in SE Asia amid robust demand and outlook in China and strong upstream costs. Several buyers in the region were disappointed by the rising trend ass they had hoped to see lower domestic prices for 2010 with the implementation of the ASEAN-6 free trade agreement with easing of trade barriers both within the region and with China.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 11, 2010

CRUDE OIL
Crude oil ended the week of January 11, 2010 at US$81.9 on the Nymex , falling from a 15-month peak of US$83.9 during the week. Crude has been rrising in the week on freezing weather in the northern hemisphere, a weaker dollar and a report from China that exports had grown.

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Disrupted chemical operations in US Gulf coast to end after weekend disruptions

USA’s Gulf region, particularly the area surrounding Houston, is the core of USA’s petrochemical industry. A cold front that swept through this area on this week dropped Houston's temperatures to 23° F (-5° C) and lesser for four consecutive nights, dipping on Friday to highs of 33° F – leaving many locations at freezing or below for at least 40 consecutive hours, as per ICIS.

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Technip awarded contract in Venezuela

Venezuelan company Polimerica has awarded to French engineering company Technip, a reimbursable contract to perform the front end engineering design (FEED) for a 1.3 mln tpa ethylene plant. This will be part of a new petrochemical complex to be built in Josè, Venezuela.

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Jilin awards contract to Lummus Technology for grassroots ethylbenzene and styrene monomer plant

Petrochina Jilin Petrochemical Company (Jilin) has awarded a contract to Lummus Technology for the license and process design of a grassroots ethylbenzene and styrene monomer (EB/SM) plant in Jilin, CChina.

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Planned maintenance at 22 Asian crackers in 2010, Middle East capacities to benefit

About 22 Asian crackers, with a combined capacity exceeding 13 mln tons are scheduled for routine maintenance shutdowns this year. Since a turnaround usually continues for 30-45 days, run rate is downn for that time period and reduced for approximately one month after the start up while production is augmenting.

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Naphtha exports from India to be high in February

India's February spot and term exports, as of this week, have exceeded 200,000 tons, including outstanding spot tenders from ONGC, Bharat Petroleum Corp and Reliance. Premiums are likely to dip from JJanuary levels, but prices will continue at a robust level on healthy demand in the region that includes demand for 1.

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Saudi Arabia, China talks on dumping charges fails

Talks between Saudi Arabia and China failed to resolve Chinese dumping charges on imports of 1.4-butanediol from Saudi Arabia. China announced anti-dumping tariffs of up to 13.6% on 1.4-butanediol froom Saudi Arabia and Taiwan on December 24.

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Bright future for composite materials in European automotive industry market

Composites are becoming the material of choice for replacing traditional materials such as steel, aluminum and engineering plastics in European automotive industry. Compared to traditional materials,, composites have higher strength-to-weight ratios, chemical and heat impact resistance, offer greater design flexibility.

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IRPC to invest US$1.2 bln in next 5 years to improve and expand refining and petrochemical projects

Thailand’s IRPC, operator of Southeast Asia's biggest integrated petrochemical complex, plans to invest US$1.2 bln over the next five years. Out of this, about US$135 mln will be invested this year. TThe investment will be towards improvement in refining and petrochemical projects and capacity expansion at a styrene monomer plant in Rayong.

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Reliance Industries realizes lower premium for February naphtha

Reliance Industries has realized a lower premium on February naphtha because of higher arbitrage volumes expected to arrive in Asia. A naphtha cargo for February lifting was sold by RIL at a premium aabout ten dollars lower than last month.

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Domestic PVC markets in China close on a firm note, PE and PP cool off

In China, the domestic PVC market closed on a firm note this week, maintaining momentum seen earlier in the week, despite cooling off in the domestic PE and PP markets that started the week with largee increases, as per Chemorbis.

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Five missing and six injured after explosion at CNPC’s petrochemical plant

Five people are missing and six are injured after an explosion at China National Petroleum Corporation’s petrochemical plant at an oil tank 19 miles from Lanzhou in northern Gansu Province. The blast hit a chemical storage tank in the chemical part of the complex and did not affect operations at the 200,000 bpd Lanzhou refinery.

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RIL increases bid for LyondellBasell to US$13.5 bln from US$12 bln

Reliance Industries Ltd has increased its bid to acquire LyondellBasell to US$13.5 bln from the earlier offer of US$12 bln. In the proposed offer, RIL will acquire US$2.2 bln in new stock and support a separate US$2.

For more details on RIL increases bid for LyondellBasell to US$13.5 bln from US$12 bln click here

Feb naphtha exports from India at 800,000 tons as refiners stretch exports to gain from strong prices

As refiners stretch their exports to maximum levels this month, to gain from strong prices in Asia, February lifting naphtha exports from India have totaled to 800,000 tons, about 10% lower than Januaary's total of 850,000-900,000 tons.

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ONGC's complex to be anchor tenant at Dahej PCPIR

Oil and Natural Gas Corp's complex will be the anchor tenant at the Dahej PCPIR that may attract a total investment of Rs 50,000 crore. The PCPIR at Dahej will be spread over the blocks of Vagra and Bharuch in the district of Bharuch, South Gujarat covering an area of 453 sq kms, and a processing area of 186 sq kms.

For more details on ONGC's complex to be anchor tenant at Dahej PCPIR click here

PTT, Siam Cement Group file pleas seeking permission to proceed with 12 suspended projects

PTT Group and Siam Cement Group have filed pleas to the Central Administrative Court, seeking permission to go ahead with six suspended projects each. SCG's six projects worth over Bt30 billion, incluude the expansion phase of IRL Industrial Park, the catalyst unit for polyethylene production and the production of propylene oxide and propylene glycol.

For more details on PTT, Siam Cement Group file pleas seeking permission to proceed with 12 suspended projects click here

PE and PP prices in Asia may rise on supply constraints

Polyethylene (PE) and polypropylene (PP) prices in Asia may rise on supply constraints caused by Saudi Basic Industries Corp (SABIC) cutting its product allocations to the region, possibly pulling etthylene (C2) prices along, as per ICIS.

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SABIC to halve PE supplies to long-term Asian contract customers in January and February

Polyethylene prices in Asia have risen at the end of last week on aggravated shortage in the region. World number one PE supplier Saudi Basic Industries Corp. (SABIC) has suspended operations at its pplants, halving its polyethylene supplies to long term Asian contract customers for the first two months of the year.

For more details on SABIC to halve PE supplies to long-term Asian contract customers in January and February click here

Formosa mulls run rate cuts due to shortage of the feedstock naphtha in Asia

Faced with a shortage of feedstock naphtha in the region, Taiwan’s Formosa Petrochemical Corp. is considering to lower run rate. Supply constraints have been caused due to failure in timely delivery aand also short supplies by few naphtha suppliers.

For more details on Formosa mulls run rate cuts due to shortage of the feedstock naphtha in Asia click here

Storage tank with liquid caustic overflows at Shell Deer Park facility

Shell’s Deer Park facility is facing a situation due to the extreme cold temperatures, though there is no danger to the surrounding community or the employees who were working at that particular site..

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Revised bids received by Saudi Kayan from 4 international firms

Saudi Kayan Petrochemical Co., a unit of Sabic, has received revised bids from four international firms to build a 210,000 tpa amines plant. Bids were revised by US-based Fluor Corp., South Korea’s Hyyundai Engineering and Construction, Daelim Industrial Co and Taiwan’s CTCI for the contract to be awarded in February.

For more details on Revised bids received by Saudi Kayan from 4 international firms click here

IPIC increases stake in OMV to 20%UAE

With effect from 30 December 2009, the number of OMV shares owned by Abu Dhabi's International Petroleum Investment Company (IPIC), has increased from 19.6% to 20% of. OMV Aktiengesellschaft has receiived a notification pursuant to Article 91 of the Austrian Stock Exchange Act that IPIC now owns 60,050,273 shares of the registered capital.

For more details on IPIC increases stake in OMV to 20%UAE click here

Large hike requests for polystyrene in Italy as Jan styrene contract settles €172/ton higher

Post New Year Holidays, buyers are facing large hike requests for polystyrene in Italy as the January styrene contract settled €172/ton higher as per Chemorbis.
A West European producer is seeking €€180/ton increases for January gentlemen's agreements at €1130-1180/ton for GPPS and at €1180-1230/ton for HIPS FD North Italy, 60 days deferred payment.

For more details on Large hike requests for polystyrene in Italy as Jan styrene contract settles €172/ton higher click here

Qatofin quotes introductory LLDPE film offers in global markets

Players in major global markets are beginning to receive introductory offers for LLDPE film from Qatofin's new 450,000 tpa LLDPE plant in Qatar that commenced production in November 2009, as per Chemoorbis.

For more details on Qatofin quotes introductory LLDPE film offers in global markets click here

Improved buying interest, rising feedstock pushes up ethylene prices in USA

Sharp upward movements in prices was seen in the first week of 2010, globally. Propped by rising ethane prices and better buying interest, ethylene prices have improved by about 90 dollars in 2010 in USA.

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Two fatalities in explosion at CNPC's petrochemical plant in Gansu province

Two deaths were reported in an explosion at CNPC's petrochemical plant. The blast occurred at an oil tank farm 30 km from Lanzhou in Gansu province. Residential areas in the region were unaffected as the centre of the explosion was more than 500 metres from residential areas.

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Successful trial-run of the first UNIPOL™ PP gas phase technology unit in China

The Dow Chemical Company and China Datang Inner Mongolia Duolun Coal Chemical Company, Ltd. have successfully completed the trial-run of the first UNIPOL™ Polypropylene (PP) Gas Phase Technology unit in China.

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Borouge completes incorporation of Borouge Sales and Marketing (Guangzhou) Co., Ltd

Borouge has announced incorporation of Borouge Sales and Marketing (Guangzhou) Co., Ltd. Supported by a Guangzhou based logistics hub capable of supplying approximately 246,000 tpa of value-added polyyethylene and polypropylene to its customers in the region, the new company will optimise the service that Borouge provides and further develop the company's growth in the region.

For more details on Borouge completes incorporation of Borouge Sales and Marketing (Guangzhou) Co., Ltd click here

DSM invests in US renewable feedstock maker Segetis

Royal DSM N.V. has invested an undisclosed sum in US manufacturer of renewable feedstock for chemicals. Segetis produces a new class of chemicals called levalunic ketals that can be used as replacemennts for petrochemicals such as plasticisers, solvents and polyols for polyurethane.

For more details on DSM invests in US renewable feedstock maker Segetis click here

Rise in price of thermoplastics likely in Europe in January

A hike in thermoplastic prices in likely in January on tight avails. In the month of December, the planned increases by West European producers of standard thermoplastics were hardly managed as per Pllastics Information Europe.

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Crude oil dips after rising 10 consecutive days

A 10 day rise in crude oil has been arrested on concerns that the rally is unsustainable and on speculation that China’s move to slow bank lending may reduce commodity demand. Crude oil for February ddelivery dipped to US$82.

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DSM acquires 100% stake in Nylon Polymer Company’s PA6 unit from Shaw industries

Royal DSM N.V. has acquired 100% stake and full control of the PA6 polymerization facility of Nylon Polymer Company LLC (NPC) in Augusta (Georgia, United States) from Shaw Industries. This concluded ttransaction make NPC fully integrated into DSM Engineering Plastics' activities with effect from 1 January 2010.

For more details on DSM acquires 100% stake in Nylon Polymer Company’s PA6 unit from Shaw industries click here

Bullish outlooks for PVC in Asia contrary to outlook for Europe

Players await new offers for February shipment from mainstream Asian suppliers after deal conclusion of January imports with $50-60/ton increases in China, as per Chemorbis. Bullish sentiments and buooyant market outlook in the Chinese market has players expecting to see new offers pass the US$1000/ton threshold on CFR basis.

For more details on Bullish outlooks for PVC in Asia contrary to outlook for Europe click here

Asian producers hike February shipment PE offers to China

February shipment offers for PE to China have been hiked by Asian producers, indicating a US$80-90/ton increase for LDPE film, a US$70-80/ton increase for HDPE film and US$20-65/ton increase for LLDPEE c4 film as per Chemorbis.

For more details on Asian producers hike February shipment PE offers to China click here

TCI Sanmar delays start up of new PVC plant in Egypt

A new VCM and PVC plant complex originally slated to start up in February, 2010 has been delayed by TCI Sanmar, possibly to September-October, 2010. Both plants will start up at the same time as per CChemorbis.

For more details on TCI Sanmar delays start up of new PVC plant in Egypt click here

Cereplast extends distribution agreement with A. Schulman to include all of Europe

Leading manufacturer of proprietary bio-based, sustainable plastics-Cereplast Inc. has extended its distribution agreement with A. Schulman, Inc. to include all of Europe. A. Schulman, Inc. is a leadiing international supplier of high-performance plastic compounds and resins, and the alliance will enable A.

For more details on Cereplast extends distribution agreement with A. Schulman to include all of Europe click here

Lobby trying to prevent conclusion of FTA between GCC and EU in Europe

GCC has been discussing the Free Trade Agreement (FTA) with the EU for the last 15 years. However, though hopes are pinned for positive outcome, conclusion of the agreement seems to be a far cry. Thiss could be attributed to play by a possible lobby that is working to try and prevent the conclusion.

For more details on Lobby trying to prevent conclusion of FTA between GCC and EU in Europ click here

Outage at Shuaiba refinery to delay naphtha exports by 4-5 days

An outage at Kuwait Petroleum Corp’s (KPC) 200,000 bpd Shuaiba refinery had disrupted production in the last week of December 2009. KPC has limited production to barely 70% capacity after restart thiss week, leading to a possible delay in some naphtha exports to Asian customers by 4-5 days.

For more details on Outage at Shuaiba refinery to delay naphtha exports by 4-5 days click here

Shell's ethylene demand will sustain strong feedstock markets through Q1-10

At a time when Asian petrochemical makers rush to replenish naphtha inventories, Royal Dutch Shell's ethylene demand will sustain the strong feedstock naphtha and ethylene market through January-Marchh, and will continue until its cracking facility comes online.

For more details on Shell's ethylene demand will sustain strong feedstock markets through Q1-10 click here

Oil crosses US$83 for the first time since fall of 2008

Benchmark crude rose to US$83.18 on the Nymex, while Brent crude for February delivery in London rose to US$81.47 a barrel on the ICE Futures exchange. A barrel of crude oil has crosses US$83 for the first time since fall of 2008 on a cold snap in the Northern Hemisphere.

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Geyer, stake holder in Quattor, plans to outbid offer by Braskem SA

Alberto Geyer, a shareholder in Quattor Petroquimica SA, plans to outbid any offer made by Braskem SA for an indirect controlling stake in the Brazilian petrochem maker. The son of Unipar founder; Geyyer seems set to raise his 240 mln real (US$139 mln) offer for 76% of Vila Velha Participacoes, in which he currently owns 24% stake.

For more details on Geyer, stake holder in Quattor, plans to outbid offer by Braskem SA click here

New US$7.5 bln petrochemical plant expected onstream in Tatarstan by 2010

A new petrochemical facility is planned to be built and in Nizhnekamsk, Russia, with the first stage expected to come onstream in 2010. To be built at an outlay of US$7.5 bln, the facility will consisst of three plants designed in compliance with the most advanced technologies.

For more details on New US$7.5 bln petrochemical plant expected onstream in Tatarstan by 2010 click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 4, 2010

CRUDE OIL
Crude Oil prices have risen to US$80/barrel in New York in the week of January 4, 2009 on predictions of a colder than normal winter that liftedd expectations of stronger oil and natural gas demand in USA.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended January 4, 2010 click here

Asian PP markets jump higher on rising costs

The PP market started the first week of 2010 in China and SE Asia with considerable price hikes from suppliers, which has led to a larger disparity between the prevailing import offers in the Mediterrranean markets and the new spot prices in Asia as per Chemorbis.

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PP homo offers to SEA from India rise vs most recent offer levels

Recent offers for PP homopolymer grade received by a trader in Indonesia from India T US$1270-1300/ton CIF SEA cash equivalent basis, were higher than the same producers’ most recent offer levels, as per Chemorbis.

For more details on PP homo offers to SEA from India rise vs most recent offer levels click here

INEOS and Sinopec ink LOI for a phenol/acetone JV at Nanjing Chemical Industrial Park

INEOS Phenol and Sinopec Yangzi Petrochemical Company have signed a Letter of Intent to study and negotiate a joint venture to build and operate a phenol/acetone manufacturing site at the Nanjing Chemmical Industrial Park in Jiangsu Province.

For more details on INEOS and Sinopec ink LOI for a phenol/acetone JV at Nanjing Chemical Industrial Park click here

Exxon Mobil to ink agreement with Qatar Petroleum for new petrochemical project

Exxon Mobil Corp. plans to sign an agreement with state-run Qatar Petroleum for a new petrochemical project to be built in Qatar. Exxon Mobil currently holds stakes in 12 liquefied natural gas producttion units in Qatar as well as a condensate refinery.

For more details on Exxon Mobil to ink agreement with Qatar Petroleum for new petrochemical project click here

Strong performance by PTA strengthens spot paraxylene prices in Asia

After two weeks of stagnancy, spot paraxylene (PX) values for February delivery spiked by about fifteen dollars to US$1125-1135/MT CFR China Main Port (CMP) as per ICIS. News from China, Taiwan and Soouth Korea point to strong performance by key downstream purified terephthalic acid (PTA) that has boosted regional PX prices.

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RIL raises Rs 2675 crore by selling 25.85 mln treasury stocks to LIC

Reliance Industries has raised Rs 2,675 crore by selling 25.85 mln treasury stocks to state-owned Life Insurance Corporation, which is the largest institutional shareholder in the company with a 6% sttake.

For more details on RIL raises Rs 2675 crore by selling 25.85 mln treasury stocks to LIC click here

LG Chem's deployment of aspenONE Advanced Process Control leads to US$4 mln annual operational savings

LG Chem's deployment of aspenONE Advanced Process Control has resulted in US$4 mln of annual operational savings, while also helping the chemical company achieve its operational excellence goals.
Att the Daesan ethylene facility, the AspenTech Services team's implementation of aspenONE APC delivered a 2% increase in ethylene and propylene production, and reduced total NCC energy consumption 1.

For more details on LG Chem's deployment of aspenONE Advanced Process Control leads to US$4 mln annual operational savings click here

Naphtha and petrochemical feedstock markets open on a high note in 2010

Naphtha prices in Asia have opened on a high note in 2010. Strengthened by robust petrochemical demand from China, prices are expected to climb higher this week. Additionally, Asia is also faced with low arbitrage supply as frigid temperatures in Europe hamper shipments to the East.

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Polimerica awards reimbursable FEED contract for ethylene plant to Technip

Technip SA has been awarded by Polimerica, a reimbursable contract to perform the front end engineering design (FEED) for a new ethylene plant, planned with a capacity of 1.3 mln tpa. The ethylene uniit will be part of a new petrochemical complex to be built in Jose, Venezuela, at an investment of US$3.

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Domestic Chinese PVC makers hike offers for acetylene and ethylene based PVC in New Year

Post New Year holidays, domestic Chinese PVC producers have increased offer levels for both acetylene and ethylene based PVC in China, as per Chemorbis. These producers point to the better market senttiment, tight supply situation, their lack of inventory pressure and higher production costs have been the reasons cited for the increase amid severe weather conditions that caused by a heavy snowfall.

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First trading day of 2010 brings price hikes to Asia’s local PE markets

In line with market expectations, domestic price increases were witnessed in markets of China and Southeast Asia on the first trading day of 2009, as per Chemorbis. In addition to bullish market sentiiments, factors such as persistently firming upstream costs, expectations of supply constraints and reports of better end product demand from the packaging sector have all contributed to the recent price hike.

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BASF restarts ethylene cracker at Antwerp, Ludwigshafen cracker due onstream shortly

Germany's BASF has restarted operations at its 1 mln tpa ethylene cracker located at Antwerp, Belgium. Shut since December 20th on account of a fire, the cracker has commenced at the start of the neww year.

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UAE's total polyolefin capacity to rise to 4.5 mln tpa by end-2013

Abu Dhabi Polymers Company (Borouge) is pressing ahead with its plans of a third phase of development that should boost the emirate's total polyolefin production capacity to 4.5 mln tpa by end-2013, mmaking it one of the world's top 10 polyolefins producers.

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Crude oil futures start the New Year above US$80

Light, sweet crude futures for delivery in February traded at US$80.09 a barrel on the Nymex. Weather forecasters predict that the winter of 2010 may be especially cold. Crude oil futures rose above $$80 on the first trading day of 2010 as an anticipation of a colder-than-expected winter lifted expectations of stronger oil and natural gas demand in USA.

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Lack of adequate feedstock, poor business atmosphere weaken recovery in Indonesian polymer output

Lack of adequate feedstock and a poor business environment are undermining the recovery in Indonesian polymer output, according to a report by Business Monitor International (BMI).
In 2009, the Indoonesian petrochemicals industry had olefins production capacities of 620,000 tpa ethylene and 655,000 mln tpa propylene.

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LDPE from West Europe offered at almost €1000/ton in Turkey

West European producers have spiked January LDPE offers to Turkey as compared with the last reported price levels to €970-1000/ton CFR Turkey, cash as per Chemorbis.
A source at one West European prroducer reported a hike in prices to €1000/ton, that was met with resistance from Turkish buyers for now.

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Domestic PE producers increase prices in China on last day of 2009

Following price hikes implemented earlier this week triggered by rising crude oil futures, further increases were reported inside China from domestic producers, as per Chemorbis. In the south, Sinopecc raised LDPE film by CNY550-700/ton (US$81-103/ton) and LLDPE by CNY200/ton (US$29/ton).

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January offers for South European LDPE film into Egypt higher

January offers by a trader for South European LDPE film into Egypt are being heard at US$1450-1470/ton CIF Alexandria as per Chemorbis. This is a much higher offer as compared with the same material tthat was offered for the same port last month at US$1350-1380/ton, 90 days deferred payment basis for December.

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Tight supplies in Asia for LLDPE film grade

Over the past few weeks, Polyethylene prices have been on the rise in Asia amid tight supplies and higher upstream costs as per Chemorbis. Restricted avails, particularly for LLDPE film have been wittnessed, as several major Asian producers claim to have no LLDPE to offer currently, as several buyers are raising complaints of a lack of availability.

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New bypass grafts from nano polymers mimic pulsing of blood vessels, deliver nutrients to tissues

London's Royal Free Hospital researchers have developed a strong, flexible, and resistant to blood clotting artificial artery that pulses rhythmically to match the beat of the heart. The new bypass grrafts, made from nano polymers can imitate the natural pulsing of human blood vessels, thus delivering nutrients to body tissues.

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South Korea's reliance on naphtha could cause problems over the medium term

South Korea's reliance on naphtha could cause further problems over the medium term as lower cost ethane-fed crackers come online in the Middle East, the Chinese economy moderates over the forecast peeriod and petrochemicals prices stabilise, as per a report by BMI.

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First stage of Russia’s biggest petrochem facility to be commissioned in Nizhnekamsk in 2010

The first stage of Russia’s biggest petrochemical facility will be commissioned in Nizhnekamsk in 2010. Installation and setting-up of the technological equipment will be completed by October 2010, too prepare the facility for commissioning.

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Massive increase in capacities in Singapore over next two years

The Singaporean petrochemicals industry is set to witness a massive increase in capacities in 2010 and 2011, but over-supply in the Chinese market may put pressure on margins and sales in the near terrm, according to a report by Business Monitor International (BMI).

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A 25 month, US$200 mln loan secured by Oman Refineries

In a move to refinance its working capital needs, state-run Oman Refineries & Petrochemicals Co. (ORPC) has secured a US$200 mln loan from Oman's Bank Muscat. The maturity of the loan will be in 25 yeears.

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Chinese self-sufficiency to impact France Petrochemicals market

France is shedding petrochemicals capacity as the recession bites deep into revenue, forcing plant closures. As a result, BMI's report forecasts a 15-20% drop in petrochemicals output, which is more tthan twice the 7% decline forecast by France's chemical industry association, Union des Industries Chimiques (UIC).

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China could become dependent on petrochemicals import in the long run

China may become dependent on petrochemicals import in the long run as it plans short term measures to curb over-capacity, as per Business Monitor International (BMI).
In H1-09, ethylene output was down 6.

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Effort to close parts of key Midwest waterway could hurt the US economy

A multi state effort to close a Midwest waterway prevent the invasive species Asian carp from reaching Lake Michigan, could hurt the US Economy, as per a business-lobby group. Michigan's attorney geneeral, backed by Ohio and Wisconsin, has filed a suit calling for the closure of two locks in a system that links the lake to the Mississippi River on rising concerns that if the Asian carp reach the lakes, the annual US$7.

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GSCSF switches to polypropylene bags for packing sugar as jute mill workers strike continues

At an annual general body meeting, Gujarat State Federation of Cooperative Sugar Factories (GSCSF) has decided to use polypropylene bags for packing sugar. This decision was prompted by a prolonged sttrike by jute mill workers since December 14, in West Bengal that has led to a shortage in the supply of jute bags in Gujarat.

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African polymer producers keen to return to margins of early 2008

African polymer producers are keen to return to early-2008 margin levels in 2010, and most are resolute that price rise is necessary to recoup losses. They continue to face several major hurdles in 20010 as they try to recover “unsustainable” margins in an uncertain market as per ICIS.

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India-S Korea trade agreement to eliminate tariffs on 7,044 goods including naphtha, polycarbonate

A trade agreement between Asia's third- and fourth-largest economies- India and South Korea will eliminate tariffs on 7,044 goods traded between the two countries with effect from Jan 1, 2010. Under tthe pact, India is to eliminate or phase out duties on 71.

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Cracker maintenance shutdown delayed by PTT Chemical by two months to February

PTT Chemical PCL has delayed by two months, plans to shut for maintenance, its 461,000 tpa ethane cracker to February. Currently, the company is focused on trial runs at its new 1 mln tpa cracker scheeduled to start up in early 2010.

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Crude oil rises by 79% in 2009 – the biggest annual gain since a decade

Crude oil for February delivery rose to US$79.85 a barrel on the Nymex. Rising for the seventh consecutive day, crude oil prices have increased to just below US$80/barrel, and seems set for the largesst annual price gain since a decade.

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Braskem and Petroleo Brasileiro could be close to acquisition of Quattor

Brazilian petrochemicals producer Braskem SA and Petroleo Brasileiro SA (Petrobas) could be close to the acquisition of Quattor Petroquimica SA. Braskem is likely to acquire 51% stake with the balancee being taken by Petrobras.

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Despite lull, PVC prices likely to remain firm at the start of 2010 on high feedstock costs

Asian polyvinyl chloride (PVC) prices are likely to remain firm at the start of next year due to high feedstock costs despite a seasonal lull in demand as per ICIS. Asian PVC prices have increased by around 7.

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EMMBI Polyarns to launch IPO in January 2010

Flexible packaging maker EMMBI Polyarns plans to raise Rs 45-crore through an initial share sale next month, the proceeds of which will be used to augment its production capacity. The company plans too utilise the proceeds from the proposed issue to set up a new polymer processing plant in Silvassa besides to scale up the production capacity of the two existing plants.

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