Borouge sets up logistics hub in Singapore

ABU DHABI (Khaleej Times) -- Abu Dhabi Polymers, or Borouge, has set up a mega logistics hub in Singapore to boost its plastics export business in the South-East Asia region.

The logistics hub would be the third such facility in Asia established by the Abu Dhabi-based polymer maker, after it successfully launched warehouses in Shanghai and Guangzhou in China, its main export market.

Set up in association with CWT, one of the largest logistics company in South East Asia, the warehousewill handle up to 10 per cent of Borouge's total production capacity, an official told Khaleej Times from Singapore.

MRC

MRC Reference

Borealis. The share in the Russian market in 2008:

polyethylene - 4.1% (including HDPE - 4.7%, LLDPE - 8.7%);
polypropylene - 3.2% (PP-impact - 7.5%).

Annual sales growth in Russia over the last 5 years:
polyethylene - 11%;
polypropylene - 6%.

Leader in polymers processing technologies:
extrusion coating;
cable extrusion;
injection molding.

(prw) -- Saudi Basic Industries Corporation, one of the world's largest chemical makers, says commercial production has begun it the joint-venture petrochemical complex it operates with China's SINOPEC.

SABIC said in a statement Tuesday that preproduction operations at the plant in Tianjin, China, began in January. The complex, which has a capacity of 3 million tons per year, was set up as a 50-50 venture with SINOPEC in November 2009.

In January, SABIC said it had secured almost $2.7 billion in financing agreements from Chinese banks and institutions for the project. The project is one of several between China and the oil-rich Gulf Arab nations. The Asian giant has been increasingly turning to the region for oil to fuel its growth.

MRC

(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.