Indorama lifted force majeure on ethylene and MEG production

MOSCOW (MRC) - In H1 012, Ukrainian producers of PET preforms increased their processing volumes by 16% year on year, according to MRC analysts.

Ukraine’s import of PET granulate in H1 2012 made about 89,500 tonnes, up 12,500 tonnes from H1 2011(77,000 tonnes).

Structure of the imports has changed. Ukrainian companies are increasingly shifting to the Middle Eastern and African material on the shorter logistics arm and attractive price policy from local producers. Thus, the share of Pakistan’s material Gatronova this year significantly increased. The imports of Pakistani PET increased by 11,200 tonnes year on year and amounted to 17,200 tonnes.

Thus, the Pakistani PET grade A-80 was the most popular among domestic producers of PET preforms (in 2011 it was Chinese grade CR-8816, produced by China Resources Chemicals).

The main share in the total consumption of imported PET fell on Chinese grades (CR-8816/China Resources Chemicals, Jade CZ-302/Jiangsu Sanfangxiang, TLE-101/Dragon Special Resin, wk-801/Zhejiang Wankai, Skypet BL 8050/SK Chemicals and others). In January-June 2012, Ukrainian companies purchased in China 41,400 tonnes of bottle PET.

This season, the domestic converters noted the stability of bottlers’ demand for their products, which leads to a steady demand for imported PET. It is also worth noting that if the current growth rate remains (16% in the first six months), the year-end total consumption of PET granulate in Ukraine can rise to 160,000 tonnes, from 138,000 tonnes in 2011.

MRC

MOSCOW (MRC) -- The following several major global polymer producers have reported reduced profits or even losses on their second quarter results:BASF, Dow Chemical, Ineos, SABIC, PetroRabigh, Sipchem.

As it was mentioned earlier by MRC, in the chemical and plastics segments BASF reported a significant decline in earnings in Q2 for some basic products on lower margins and the scheduled maintenance shutdown of several plants.

Producers cited disappointing global demand, higher feedstock costs and reduced production as some of the main reasons for their weaker results.

BASF is the world’s leading chemical company. BASF offers a comprehensive product line and market expertise ranging from commodities to engineering and high-performance materials in thermoplastics, foams and urethanes.

The Dow Chemical Company, commonly referred to as Dow, is an American multinational chemical corporation. Dow Chemical is a provider of plastics, chemicals, and agricultural products. Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.

INEOS Group Limited is a privately owned multinational chemicals company headquartered in Rolle, Switzerland. Ineos manufactures and distributes a wide range of petrochemicals, specialty chemicals and oil products, including ethylene, polyethylene, polyisobutylene, polypropylene and other aromatics, polystyrene, polyvinyl chloride, propene, propylene glycol, propylene oxide, PVC compounds, styrene-acrylonitrile resin, sulphur chemicals, VCM biodiesel and vinyls.

SABIC is a major producer of the key polyolefins PE (Polyethylene) and PP (Polypropylene). It also produces PVC, polyester and polysterene.

Rabigh Refining & Petrochemical Company (Petro Rabigh) is a Saudi Arabia-based company which produces and markets refined hydrocarbon and petrochemicals.

Saudi International Petrochemical Company (Sipchem) manufactures and markets methanol, butanediol, tetrahydrofuran, acetic acid, acetic anhydride, vinyl acetate monomer, as well as carbon monoxide through its various affiliates.
MRC

(Recycling Today) -- MRC Polymers, a Chicago-based plastics recycling company, has launched a new division known as Recycling Solutions. The new division seeks to help companies derive the highest value possible from their scrap.

The company will seek rigid plastics generated at industrial manufacturing plants, particularly those within the automotive industry.

Paul Binks, MRC Polymers CEO, says the company recovers post-consumer bumpers, which it grinds, washes and compounds into pellets using a proprietary process. The pellets are then used to manufacture new bumpers, he adds.

MRC's polymer compounds are high quality, engineering grade, cost-competitive alternatives to virgin resins.
MRC Polymers reclaims various grade thermoplastics from post-consumer plastic scrap (like car bumpers, large water bottles, advertisement sheets, etc.) and post-industrial plastic waste (such as CDs, DVD covers, etc.) and manufactures engineering-grade and commodity thermoplastic compounds.

MRC Polymers offers a full range of custom compound products and engineering plastic, among which are: PC/ABS (polycarbonate acrylonitrile butadiene styrene), PC/PBT (polycarbonate polybutylene terephthalate), PC/PET (polycarbonate polyethylene terephthalate),PET (polyethylene terephthalate).
MRC

(hydrocarbonprocessing) -- CB&I has agreed to acquire Shaw Group, a US-based engineering company primarily focused on serving clients in the power generation and government services sector, officials with both firms said Monday.

The acquisition is expected to close in early 2013. Reports valued the overall deal at approximately USD3 billion.

CB&I said that combining the two companies will create “one of the most complete energy focused technology, engineering, procurement, fabrication, construction, maintenance, and associated services companies in the world”.

With a global workforce of nearly 50,000 employees, backlog of over USD28 billion, and engineering and fabrication facilities strategically located on all continents, the company will have the capacity to execute large energy infrastructure projects now and in the future, according to company officials.

“This is a highly compelling transaction that we believe will create significant value for our shareholders,” said Philip K. Asherman, president and CEO of CB&I.

CB&I plans to operate Shaw as a business sector under the brand name CB&I Shaw, the company said, enabling the new company to retain Shaw’s brand equity, particularly in the power industry.
MRC