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Speciality Chemicals10-Sep-2024
BARCELONA (ICIS)–Europe’s beleaguered
petrochemical industry could see its fortunes
improve dramatically if Mario Draghi’s
industrial policy proposals are adopted, along
with a fair regulatory framework.
New
industrial strategy can rescue region
from structurally higher costs, low levels of
investment
Historic moment with momentum building for
new approach to Europe industry transformation
Green Deal objectives need to work
alongside measures to improve competitiveness
New requirements for environmental, social
and governance (ESG) reporting and extended
producer responsibility (EPR) will have big
impact on chemicals
Compliance teams face a “nasty cocktail”
because of lack of regulatory clarity
Shift from risk to hazard-based approach
Regulations create opportunities for
innovative chemical companies
In this Think Tank podcast, Will
Beacham interviews Georgie
Messent and Thomas
Delille from law firm Squire Patton
Boggs, Nigel Davis from the
ICIS market development team and Paul
Hodges, chairman of New Normal
Consulting.
Editor’s note: This podcast is an opinion
piece. The views expressed are those of the
presenter and interviewees, and do not
necessarily represent those of ICIS.
ICIS is organising regular updates to help
the industry understand current market trends.
Register here .
Read the latest issue of ICIS
Chemical Business.
Read Paul Hodges and John Richardson’s
ICIS
blogs.
Polyethylene10-Sep-2024
SINGAPORE (ICIS)–Indonesia has initiated an
investigation as to whether “safeguard
measures” would be needed in response to a
sharp increase in imports of linear low density
polyethylene (LLDPE), its trade ministry said.
The Trade Security Committee (KPPI) under the
Ministry of Trade started the probe on 9
September following a complaint from The
Indonesia Olefin, Aromatics and Plastics
Industry Association (INAPLAS), acting on
behalf of Chandra Asri Pacific and Lotte
Chemical Titan Nusantara Indonesia.
The committee noted initial findings suggested
there were possible losses to the domestic
industry over the years 2021-2023 arising from
the sharp increase in imports of LLDPE.
It also noted that the biggest sources of these
imports were Malaysia and Thailand, which
accounted for over 70% of LLDPE imports into
Indonesia.
Government data showed that in 2023,
Indonesia’s LLDPE imports increased by 33.3% to
280,385 tonnes, compared with a 3.3% decline
registered in 2022, the ministry said.
Some market participants ICIS spoke with said
they were not yet ready to respond to the
announcement as await more details from the
government.
(adds paragraphs 5-6)
Ammonia10-Sep-2024
LONDON (ICIS)–On 11 July, H2Global Holding and
Hintco announced it had accepted Fertiglobe’s
bid of €1000/tonne of renewable ammonia into
the Port of Rotterdam as the sole winner of the
H2Global pilot auction programme.
In this episode of the ICIS Hydrogen Insights
podcast, ICIS hydrogen editor Jake Stones sits
with the co-founder of the H2Global mechanism
and H2Global Holding and Hincto CEO Timo
Bollerhey to discuss the results of the
auction, the status of the contract between
Fertiglobe and H2Global and the role that the
H2Global mechanism plays in the evolution of
the hydrogen market. Finally, the pair discuss
in detail the conditions around the E-SAF lot
for the pilot auction, which received no
bidders.
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Polyethylene10-Sep-2024
SINGAPORE (ICIS)–Indonesia has initiated an
investigation as to whether “safeguard
measures” would be needed in response to a
sharp increase in imports of linear low density
polyethylene (LLDPE), its trade ministry said.
The Trade Security Committee (KPPI) under the
Ministry of Trade started the probe on 9
September following a complaint from The
Indonesia Olefin, Aromatics and Plastics
Industry Association (INAPLAS), acting on
behalf of Chandra Asri Pacific and Lotte
Chemical Titan Nusantara Indonesia.
The committee noted initial findings suggested
there were possible losses to the domestic
industry over the years 2021-2023 arising from
the sharp increase in imports of LLDPE.
It also noted that the biggest sources of these
imports were Malaysia and Thailand, which
accounted for over 70% of LLDPE imports into
Indonesia.
Ammonia09-Sep-2024
HOUSTON (ICIS)–The US corn crop is now 5%
harvested, according to the latest US
Department of Agriculture (USDA) weekly crop
progress report.
In the first update on the corn acreage being
harvested, the weekly update showed 5% of the
crop is now completed which is above the 4%
rate from last year and the five-year average
of 3%.
There is currently 95% of the corn crop in the
dough stage, which trails the 96% level from
2023 but is slightly higher than the five-year
average of 94%.
Corn at the dented stage is now 74% of the
reported acreage, which is behind the 78%
achieved last year but is ahead of the
five-year average of 73%.
29% of the crop is listed as mature, which is
equal to the 29% mark from last year and above
the five-year average of 24%.
For corn conditions, there is still 4% rated
very poor, with 8% as poor and 24% now as fair.
There is 48% listed as good and 16% as
excellent.
Soybeans setting pods has climbed to 97%, which
is equal to the 97% mark from last year and is
just above the five-year average of 96%.
The amount of soybeans dropping leaves is now
at 25%, which trails the 2023 level of 27% but
is higher than the five-year average of 21%.
Soybean conditions were unchanged with there
still being 3% listed as very poor, with 7% as
poor and 25% as fair. 52% is good with 13% as
excellent.
In other harvesting updates, there is 8% of the
cotton acreage completed with sorghum harvest
at 21%.
Ammonia09-Sep-2024
HOUSTON (ICIS)–After a quiet few weeks for
hurricane activity and with crop harvesting and
movement of nutrients for autumn applications
advancing, the US Gulf Coast and its
agricultural and fertilizer interests are again
facing a tropical weather threat.
Tropical Storm Francine has developed in the
Gulf of Mexico with the system moving rapidly
at 60 miles/h with the edge closing in near
Brownsville, Texas, along the US-Mexico border
late on Monday.
It is now being forecasted to bring heavy rain
which could result in flooding and there is the
possibility of storm surge. There are
expectations that tropical storm force winds
may extend up to 160 miles from the center.
As Francine begins the trek northward, US
farmers and fertilizer industry participants
are watching the developments as the conditions
will certainly deliver impacts to growers, with
wind and rainfall possibly resulting in crop
damage and delayed post-harvest fertilizing.
Parts of south Texas are already beginning to
experience these conditions with the rest of
the Texas coast in the path as well, but the
forecast has it eventually turning towards
Louisiana.
Given the duration until it strikes, it is
likely the storm will intensify and gain enough
in the coming days to become a moderate
hurricane with impacts stretching far from the
initial site of landfall.
This will halt field work as well as stop
harvesting progress across many states and in
the aftermath will leave acreage soaked across
many areas.
For the fertilizer segment, there is awareness
of the threat as the potential path takes it
near the key location of New Orleans and across
the locations of production facilities within
the state, including those of CF Industries.
The producer did not respond to an enquiry on
its upcoming storm preparation, but no activity
so far has been heard from any manufacturers in
the region.
As an industry source said “nobody is talking
about this yet”, but that likely changes in the
next 48 hours especially if the tropical system
ends up displaying potential to be larger than
currently anticipated.
Ammonia09-Sep-2024
HOUSTON (ICIS)–Industrial gas firm Messer
announced it has entered into a long-term
renewal of a carbon dioxide (CO2) purchase and
sale agreement with US fertilizer producer LSB
Industries.
As part of the agreement, Messer said it will
subsequently commit more than $9 million into
the liquid CO2 plant at LSB’s Cherokee,
Alabama, facility with a focus of this
investment on the continued safe and reliable
operations at the site.
The plant manufactures fertilizers including
ammonia, urea and urea ammonium nitrate (UAN)
and it also makes industrial and mining
offerings including ammonium nitrate (AN)
solutions and diesel exhaust fluid (DEF).
Messer said this deal will help increase
security of its CO2 supply and provide
continuity to customers for decades to come.
“The efficiency upgrades for the plant
modernization effort will add more molecules to
our network and reduce CO2 emissions at
the site in-line with our sustainability
goals,” said Chris Ebeling, Messer executive
vice president, sales & marketing, North
America.
Potassium Chloride (MOP)09-Sep-2024
HOUSTON (ICIS)–Canadian potash developer Sage
Potash Corporation announced it has entered
into an agreement with a subsidiary of
International Process Plants (IPP) for the
purchase of processing equipment for Canadian
dollars (C$) 12.6 million ($9.29 million).
The company, which is advancing the Sage Plain
Potash project located in Utah’s Paradox Basin,
said this equipment is capable of processing up
to 300,000 tonnes per year of potash.
The majority of the equipment, which has not
been assembled or used and is in storage in
Europe, was fabricated in 2012 at a then cost
of approximately €36 million.
Sage Potash said the rest of the equipment will
come from IPP’s inventory of second-hand
machinery.
Under the terms the company will satisfy the
purchase price by paying C$6.3 million in cash
and issuing 12,600,000 common shares to IPP at
a price of C$0.20 per share.
It will also issue IPP a secured convertible
debenture with a principal of C$3.78 million,
with the purchase and transactions subject to
acceptance by the TSX Venture Exchange.
Sage Potash said it is getting an exceptional
opportunity considering stainless steel and
titanium costs have more than doubled since
2012. In addition to the cost benefits the
company estimates it is going to save between
four to five years’ worth of fabrication time.
“By buying this existing equipment now, Sage is
mitigating project risk and cost, as well as
providing added clarity to the project’s
timeline, which is what project funders
require. We believe this ultimately enhances
shareholder value as we seek to reduce the
United States’ nearly 100% reliance on imports
for potash supply,” said Peter Hogendoorn, Sage
Potash CEO.
$1 = C$1.36
Ethylene09-Sep-2024
HOUSTON (ICIS)–Here are the top stories from
ICIS News from the week ended 6 September.
Brazil’s
manufacturing sharply slows in August on higher
costs, lower demand
Brazil’s manufacturing PMI index for August
sharply slowed down from July on the back of
output falling for the first time in several
months due to subdued sales, and elevated cost
pressures, analysts at S&P Global said on
Monday.
INSIGHT: Brazil’s
natgas overhaul to benefit chems but crude
players push indispensable
The Brazilian government’s decree changing
natural gas regulations could potentially
overhaul the market and, along the way, benefit
the chemicals industry by providing it with
cheaper energy and eventually with ethane-based
feedstocks.
INSIGHT: LatAm
chemicals needs to be as plural as society to
reach full sales potential
For years, Latin American petrochemicals
companies have been trying to increase
diversity within to better represent the
consumers they want to sell their products to –
without much success.
Canada government
wobbles amid fallout from rail labor
dispute
Canada’s Liberal-led minority government under
Prime Minister Justin Trudeau is paying a heavy
price for its decision last month to
end the labor dispute at freight railroads
Canadian National (CN) and Canadian Pacific
Kansas City (CPKC) through binding arbitration.
SHIPPING: Union,
USWC ports at impasse as strike deadline looms;
container rates keep falling
A strike by union dock workers at East Coast
and US Gulf ports seems more likely after
International Longshoremen’s Association (ILA)
Wage Scale Delegates voted unanimously at the
end of their two-day meeting to support
leadership’s intentions to walk off the job if
a new labor deal is not agreed to when the
contract expires on 30 September.
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