By Malini Hariharan With start-up delays, commissioning issues and operating troubles becoming increasingly common across the Middle East and many parts of Asia, I have been asking industry players on what they think are the major issues that companies are facing. At the top of the list is the shortage of skilled manpower. We have […]
Asian Chemical Connections
Benzene: What Lies Beneath
A Ring of Truth? Source of picture: http://web.pdx.edu/~nathanh/benzene/benzene2.gif By John Richardson TUMBLING Asian benzene prices are being blamed on weaker crude, itself a reflection of macro-economic worries over higher-than-expected US jobless figures, government debt problems in the Euro zone and tighter credit in China. “It’s not a question of whether, but when the secon dip […]
The Dangers Of A Three-Year-Old’s Attention Span
“Hello everybody – welcome to the island of Sodor. Time to flip your positions’ Source of picture: www.dragoart.com By John Richardson MY three-year-old son has, quite rightly, an incredibly short attention span. A child of that age should be overwhelmed with the excitement of lots of wonderful experiences and possibilities. But I would argue that […]
Refinery Profit Squeeze Threat To Petchems
“Any Old Iron?” Source of picture: http://www.investorfsbo.com/refinery.html By John Richardson A LONG-TERM shift in refinery economics is posing a major threat to petrochemical margins – along with the delayed supply crisis that’s likely to hit the industry at some point over the next year. “Refiners, when the global economy was booming and particularly after […]
China Latest Growth, Inflation Raise Rate Rise Fears
By John Richardson CHINA’S soaring fourth-quarter GDP (gross domestic product) growth – and the release of the latest inflation statistic – has heightened fears among economists that interest-rate rises will be necessary, risking collapse in house prices if it’s not managed skilfully. Inflation rose to 1.9% in December last year from 0.6% in November, according to […]
China Latest Credit Tightening Blow To Chemicals
By John Richardson CHINA’S decision to temporarily halt lending by some banks – which was announced yesterday – as it attempts to further cool the economy will likely have a significant effect on chemicals demand and pricing. This follows last week’s decision to raise bank reserve requirements and two increases in the inter-bank lending rate […]
Is it time for price corrections?
By Malini Hariharan After experiencing steep price hikes over the last few weeks should seller start preparing for a fall? Signs of resistance and a slowdown in buying are being seen across a few products suggesting that price corrections may be imminent. ICIS news reports today that the price rally in PE and PP in […]
Thai Start-up Delays On Court Ruling: The Details
The Thai Supreme Court’s decision to uphold a September injunction halting development of $12bn of petrochemical and power projects could affect the on-schedule start-up of capacities of a large amount of petrochemicals capacity. Note the word could because, despite the court ruling supporting claims by environmentalists about the impact of pollution at the site, PTT […]
“Middle East To Control Basic Chems In 3-5 Years”
Abu Dhabi ahead in the race? Source of picture: www.gulftrackservices.com By John Richardson The global basic chemicals industry is likely to end up under the dominant control of the Middle East, and possibly Asia, within the next 3-5 years, a senior chemicals industry source told this blog. “We have known for a long time that […]
The more the merrier
By Malini Hariharan (Malini is now joint blogger for Asian Chemical Connections) Sumitomo Chemical and Saudi Aramco appear to be in a generous mood. After successfully launching the first phase of their joint venture and starting work on the second phase the two are willing to welcome others to the Rabigh party. Pic source: Saudi […]
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