Barge strike triggers Ineos force majeure

(prw) -- Ineos has called force majeure on deliveries of all its general purpose polystyrene (GPPS) grades and for its EPS packaging grades from its plant in Wingles, France due to a strike of some barge owners, bringing the deliveries of styrene monomer to a complete halt.

MRCMRC Reference

Ineos is a petrochemical group.
In Russia Ineos's interests are represented by Ineos Polyolefins and IneosChlorVinyls.

The share in the Russian market in 2008:
PVC - 4.5%;

polyethylene - 1.9%
(HDPE - 2.8%, LDPE - 1.2%);
polypropylene - 1.4%
(PP-random - 22.1%, PP-impact - 2.0%);
polystyrene - 0.9%.

Imports by polymers processing technologies:
profile extrusion;
pipe extrusion;
film extrusion;
injection molding.

(plastemart) -- As per current status, Asia is expected to receive 200,000 tons of Western naphtha. This is less by 100,000 tons from May levels, and seems insufficient to meet healthy demand at a time when India is expected to lower its June exports.

Propped by robust demand from China, demand in Asia has been strong, as crackers are operating at high rates since 2009. Additional crackers that have recently come onstream in South Korea, Singapore and Thailand have also added to the supply shortfall. Demand for June is reported to be firm amid high operating rates at crackers.

Despite concerns of an ethylene glut after Thailand and Singapore added a nameplate capacity totalling 1.7 mln tpa in March, there are no signs of petrochemical margins falling into the red so far.

But traders remain wary over the sustained strength of the naphtha market.
ADNOC and Tasweeq will raise supplies due to additional gas output, and crackers may replace more of their naphtha feedstock with liquefied petroleum gas (LPG) from July.

Europe may also push out more naphtha to Asia after July as gasoline demand is not expected to hold up.

MRC

PARIS (Reuters) -- French specialty chemicals maker Arkema struck a more optimistic tone for its outlook this year as the first quarter showed a significant improvement against the year-ago when the recession fully struck.

Arkema said on Tuesday its core earnings or earnings before interest, tax, depreciation and amortisation were close to the level pre-crisis levels, partly thanks to fixed cost cuts and growth in Asia, but that volumes were still lower.

The more favourable market conditions seen in the first quarter carried on into the second quarter, Arkema said, leading it to forecast core earnings in the second quarter to be better than in the first quarter. At the earnings presentation in March, Arkema said it targeted a significant improvement but remained cautious on making any market assumptions after the credit crisis dented demand from clients such as the car and building industries.

Arkema swung to a first-quarter net profit of 40 million euros against a loss of 35 million. EBITDA surged to 137 million euros from 57 million euros on sales up nearly 20 percent at 1.308 billion. Volumes in the quarter increased more than a fifth, supported by strong demand in Asia, signs of a recovery in North America, and expanding new energy markets.

For growth, Arkema's focus remained on Asia, the development of high performance polymers and bolt-on acquisitions.

MRCMRC Reference

Arkema.

The share in the Russian market in 2008:

PVC - 0.2%;

EVA - 1.1%.

Annual sales growth in Russia, during the recent 5 years:

PVC - 69%;

PE - 121%.

Imports by polymers processing technologies:

coating;

cable extrusion.

(plastemart) -- The Koream ambassador met Friday with leadership of Azerkimya (within SOCAR). He has expressed an interest by Korean companies in different economic spheres of Azerbaijan, particularly investments in petrochemical industry.

He has expressed interest in prospects of a petrochemical complex of the country, Azerbaijan's demand in chemical production amid intention of the Korean companies to cooperate with Azerkimya.

MRC

(plastemart) -- Celanese Corporation's Advanced Engineered Materials business has completed a transaction to acquire two product lines, DuPont Zenite liquid crystal polymer (LCP) and Thermx polycyclohexylene-dimethylene terephthalate (PCT), from DuPont Performance Polymers. "This acquisition will continue to build upon Celanese's position as a global supplier of high performance materials and technology-driven applications as we continue to expand our innovative offerings in growth-oriented segments to support our customers," said David Weidman, chairman and CEO, Celanese. "These two products broaden the company's Ticona Engineering Polymers offerings, enabling Celanese to respond to a globalizing customer base, especially in the high growth electrical and electronics application segments." "As the leading supplier of high performance engineering resins, DuPont Performance Polymers is fully committed to growing and strengthening its broad product portfolio," said Diane Gulyas, president, DuPont Performance Polymers. "DuPont Performance Polymers has concluded that this opportunity to divest Zenite LCP and Thermx PCT is in the best long-term interests of our portfolio and customers. We will work closely with Celanese to make the transition period as effective as possible for our customers.

MRC