Asia top stories – weekly summary
ICIS Editorial
17-Feb-2025
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 14 February.
SE Asia PE plant shutdowns deemed necessary
for rebalancing
By Izham Ahmad 10-Feb-25 10:57 SINGAPORE
(ICIS)–A recent wave of plant shutdowns
among polyethylene (PE) producers across
southeast Asia has been seen by some as a
reflection of how dire the situation in the
market is.
Malaysia’s Lotte Chemical Titan incurs record
Q4 loss; ’25 outlook downbeat
By Nurluqman Suratman 10-Feb-25 14:44
SINGAPORE (ICIS)–Lotte Chemical Titan (LCT)
incurred its largest-ever quarterly loss,
with analysts expecting the Malaysian
producer to remain in the red in 2025 amid
weak economic conditions and an oversupply of
petrochemical products.
INSIGHT: Strong hydrogen push in China to
reshape global industry amid US
pullback
By Patricia Tao 10-Feb-25 18:23 SINGAPORE
(ICIS)–The US has suspended financial
support for its own hydrogen sector, while
China is ramping up efforts to expand its
hydrogen industry. The sharp policy
divergence between the two countries could
accelerate the global hydrogen market’s shift
and reshape the industry landscape over the
next three to five years.
Asia polyester tracks rising costs despite
weak post-holiday demand
By Judith Wang 11-Feb-25 12:57 SINGAPORE
(ICIS)–Asia’s polyester export discussions
edged up in line with the higher cost
pressure after the Lunar New Year holiday,
while buying activities were limited as
end-user demand remained weak.
SE Asia VAM market rallies on crimped supply,
demand surge
By Hwee Hwee Tan 12-Feb-25 12:43 SINGAPORE
(ICIS)–The southeast Asia vinyl acetate
monomer (VAM) import market is being buoyed
by resurgent restocking demand and supply
disruptions into February.
INSIGHT: US policy shift raises concerns on
future of CCS, blue ammonia value
chain
By Bee Lin Chow 12-Feb-25 13:04 SINGAPORE
(ICIS)–The unfolding political battle in the
US over national economic interest and energy
security has raised concerns about potential
implications for its emerging carbon capture
and storage (CCS) and blue ammonia sectors,
and the potential spillover impact on Asia.
PODCAST: US hydrogen subsidy halt vs China’s
expansion – what’s next for the global
market?
By Anita Yang 12-Feb-25 15:45 SINGAPORE
(ICIS)–The Trump administration swiftly
withdrew financial support for its hydrogen
sector, while China is accelerating hydrogen
expansion with strong policy backing.
INSIGHT: India may offer tariff concessions
to US as PM Modi meets Trump
By Priya Jestin 13-Feb-25 14:18 MUMBAI
(ICIS)–India may offer the US tariff cuts on
various products, including electronics and
automobiles – major downstream sectors of
petrochemicals – to avoid US President Donald
Trump’s “reciprocal duties”, which may deal a
big blow to the south Asian nation’s exports.
Vietnam to raise 2025 GDP growth target to 8%
to fuel socioeconomic growth
By Jonathan Yee 13-Feb-25 16:08 SINGAPORE
(ICIS)–Vietnam announced on 12 February it
would raise its GDP growth target for 2025 to
8.0% from 6.5-7.0%, with industrial
manufacturing and foreign investment expected
to drive growth.
Singapore 2024 petrochemical exports grow
4.6%; trade risks stay high
By Nurluqman Suratman 14-Feb-25 14:00
SINGAPORE (ICIS)–Singapore’s petrochemical
exports in 2024 rose by 4.6%, supporting the
overall growth in non-oil shipments abroad
which is being threatened by ongoing trade
frictions among major economies.
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