Americas top stories: weekly summary
ICIS Editorial
08-Jul-2024
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 5 July.
Hurricane Beryl
strengthens and shifts path, expected to hit
Texas’ Corpus Christi
Hurricane Beryl is expected to post a “slow
re-intensification” as it heads towards the
north and could potentially hit Texas’
industrial hub of Corpus Christi by Monday.
Mexico’s Altamira
petrochemicals players breathe sigh of relief
as Beryl weakens
Fears that Hurricane Beryl could cause
widespread disruption to petrochemicals
production in the Altamira hub, in the Mexican
state of Tamaulipas, have now subsided as the
hurricane weakens on its path through the
Caribbean.
Hurricane Beryl
expected to weaken after hitting Mexico’s
Yucatan peninsula
Hurricane Beryl, which until 3 July was a
powerful Category 5 hurricane, weakened to
Category 3 by Thursday morning as it headed
towards the Mexican peninsula of Yucatan.
INSIGHT: Chem
shipping to get break from Panama Canal, tariff
front-loading
The Panama Canal Authority (PCA) is allowing
more traffic to pass through the waterway,
while the rush to ship goods before the start
of tariffs should end soon – all of which
should give chemical shippers some relief from
elevated freight costs.
US June auto
sales fall from May on high prices, interest
rates, cyber-attack, but could grow in
H2
US June sales of new light vehicles fell from
May, but total sales in the second quarter
showed a modest improvement over Q1, according
to data from the US Bureau of Economic Analysis
(BEA).
Rethinking
business models for resilience in a fragile
world to drive M&A – DC
Advisory
Chemical companies are in many ways rethinking
their business models to become more resilient
in a fragile and volatile operating
environment, potentially leading to more
mergers and acquisitions (M&A) activity, an
investment banker said.
US manufacturing
remains in contraction but chemicals
healthy
US manufacturing activity remained in
contraction territory in June but output in the
chemicals sector was healthy on the back of
healthy new orders, the Institute of Supply
Management’s (ISM’s) purchasing managers’ index
(PMI) survey showed on Monday.
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