Single-use plastics ban approved by European Parliament

MOSCOW (MRC) -- The European Parliament has voted for a complete ban on a range of single-use plastics across the union in a bid to stop pollution of the oceans, said BBC.

MEPs backed a ban on plastic cutlery and plates, cotton buds, straws, drink-stirrers and balloon sticks. The proposal also calls for a reduction in single-use plastic for food and drink containers like plastic cups. One MEP said, if no action was taken, "by 2050 there will be more plastic than fish in the oceans".

The European Commission proposed a ban in May, following a surge in public support attributed to documentaries such as David Attenborough's BBC Blue Planet series. The measure still has to clear some procedural hurdles, but is expected to go through. The EU hopes it will go into effect across the bloc by 2021.

The UK will also have to incorporate the rules into national law if the ban becomes a fully-fledged directive before the end of a Brexit transition period. After the Parliament vote was backed by 571-53, the MEP responsible for the bill, Frederique Ries, said it was "a victory for our oceans, for the environment and for future generations."

Several countries are already considering proposals to target disposable plastic products - including the UK. The directive targets some of the most common ocean-polluting plastics. The list of banned items such as cutlery and cotton buds was chosen because there are readily available alternatives, such as paper straws and cardboard containers. Other items, "where no alternative exists" will still have to be reduced by 25% in each country by 2025. Examples given include burger boxes and sandwich wrappers.

MEPs also tacked on amendments to the plans for cigarette filters, a plastic pollutant that is common litter on beaches. Cigarette makers will have to reduce the plastic by 50% by 2025 and 80% by 2030. Another ambitious target is to ensure 90% of all plastic drinks bottles are collected for recycling by 2025. Currently, bottles and their lids account for about 20% of all the sea plastic, the European Parliament report said. Manufacturers will also have to take more responsibility for what happens to their plastic products and packaging.

The EU's research on the topic says about 150,000 tonnes of plastic are tossed into European waters every year.
That is only a small contributor to the global problem, with an estimated eight million tonnes of plastic entering the world's oceans annually. And once there, plastic can travel great distances on ocean currents. Those plastics have a huge effect on marine life.

Fish and large aquatic mammals can be killed by the pollution. Whales can eat plastic bags, making it impossible for them to eat real food which can eventually lead to death. When plastic debris breaks down from wear and tear, it does not decompose the way other products like wood do - but instead breaks down into smaller and smaller pieces, becoming "microplastic".

These tiny fragments often end up in fish and can then be passed on to humans. Large volumes of plastic waste wash up on beaches, where they can be eaten by sea birds and other animals and kill them.
MRC

MOSCOW (MRC) - U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday, as per Hydrocarbonprocessing.

Crude inventories rose by 6.3 million barrels in the week to Oct. 19, compared with analyst expectations for an increase of 3.7 million barrels. In the last five weeks, overall U.S. stocks have risen to 422 million barrels, not including the country's strategic reserve, which holds about 656 million barrels.

Gasoline stocks fell by 4.8 million barrels, exceeding expectations for a 1.9 million-barrel drop. Distillate stockpiles, which include diesel and heating oil, were also lower, dropping by 2.3 million barrels.

"The report is mixed due to the dueling large build in crude oil inventories and steep decline in gasoline and distillate fuels," said John Kilduff, a partner at Again Capital Management in New York.

Oil prices were higher, recovering from Tuesday's sharp selloff after Saudi Arabia said it would keep the market well supplied. Crude futures have also been falling in tandem with weakness in worldwide equity markets.

Refinery crude runs fell by 48,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.4 percentage points, but overall utilization remains at a reduced level of 89.2 percent of capacity, with much of the reduction in capacity use coming from the Midwest and East Coast, where maintenance is ongoing.

"The uptick in refinery runs means that the refinery maintenance season is starting to slowly come to a close and we’re starting to turn the corner," said Phil Flynn, analyst at Price Futures Group.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.4 million barrels, EIA said.
MRC

MOSCOW (MRC) -- Kolon BASF innoPOM Inc., the 50:50 joint venture between Kolon Plastics and BASF started operations at its 70,000 metric tons per year capacity new polyoxymethylene (POM) production plant in Gimcheon, Korea, said Plasticsinsight.

The installation of the new plant with a capacity of 70,000 metric tons per year, combined with Kolon Plastics’ existing annual POM production capacity of 80,000 metric tons, resulted in the world’s largest POM production facility, with a total annual capacity of 150,000 metric tons. Construction of the plant took 27 months from the start in April, 2016. The plant with an investment of KRW 260 billion (approximately USD 220 million) was built without any safety or environmental incidents.

BASF’s stringent quality control system and energy-saving technology with Kolon Plastics’ highly efficient and stable production capabilities and has provided a plant that is capable to produce best-in-class POM products. Kolon BASF innoPOM will support Kolon Plastics and BASF with a stable supply of POM.

Raimar Jahn, President, Performance Materials, BASF, said, "The new plant we have built together with Kolon Plastics sets an industry benchmark for the production of POM. It employs innovative environmental management standards that improve production efficiency, resulting in less energy use. With BASF’s first POM production in Asia, we will be able to provide a stable supply of high-quality POM to the Asia Pacific region, as well as to the rest of the world."

Yeong-Bom Kim, joint-representative of Kolon BASF innoPOM and Representative Director of Kolon Plastics, commented, "The joint venture leverages the strengths of each company and is a great example of how partners can work together to generate significant synergies and strengthen our global market position. We hope to continue this partnership in other areas of business as well."
MRC

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, has decided to create the world’s largest POM manufacturing plant at the Industriepark Hochst (IPH) facility in Frankfurt, Germany to support the continued growth of its global engineered materials business, as per Plasticsinsight.

The addition of the capacity is expected to complete in the next 18-24 months. The debottlenecking of the IPH POM unit shows the ability to respond to global customer demand along with the knowledge and expertise of its engineering talent that enables these world-class projects and expansions.

Scott Sutton, Chief Operating Officer, said, "Celanese continues to exhibit its leadership position in the manufacture and compounding of highly engineered materials, such as POM, by adding this capacity to support growth in sophisticated, functionalized polymers. We will continue to partner with our customers to deliver innovative solutions to meet ever-increasing customer needs and respond to the changing complexity in high-performance polymers."

Celanese has planned to add 20-kilo tonnes of the production capacity of the IPH unit to take it as the world’s largest and most efficient POM plant.

Jon Mortimer, Vice President, Global Manufacturing for Celanese, commented, "As we expand our polyacetal capacity and manufacturing capability globally – with production facilities in every region of the world – Celanese continues to demonstrate the expertise needed to efficiently run the world’s largest polymer and chemical facilities. The debottlenecking of our IPH POM unit further demonstrates not only our ability to respond to global customer demand, but also the knowledge and expertise of our engineering talent that enables these world-class projects and expansions."

Celanese Corporation builds a partnership with its customers to solve their most critical business needs and make a positive impact on its communities and the world.
MRC

MOSCOW (MRC) -- A fleet of half a dozen tankers carrying unsold liquefied natural gas (LNG) has been floating in Singapore and Malaysian waters for up to two weeks as winter demand in Asia looks weaker than initially expected, traders said on Thursday, as per Hydrocarbonprocessing.

The ships together carry around a million cubic metres of LNG, worth more than $200 million at current spot market prices. One of them, Adam LNG, is carrying 164,000 cubic metres of LNG that originated from the Arctic Yamal project in Russia, with Refinitiv Eikon ship tracking data showing the cargo to be open "for orders".

The LNG cargoes were purchased ahead of the northern hemisphere winter season, said several traders with knowledge of the matter, declining to be named as they were not allowed to speak publicly about commercial operations. "Everyone floated cargoes last month, with a steep contango over October to November, and they now can't find homes for these floating cargoes," an LNG broker said.

Contango means prices for future delivery are higher than those for immediate dispatch, making it attractive for traders to hold on to cargoes for later sale. Many traders were also hoping for a repeat of last winter, when LNG spiked to 2014 highs of USD11.50 per million British thermal units (mmBtu) as the top three importers, Japan, China and South Korea, scrambled to meet demand amid China's gasification programme, unusually cold weather and widespread nuclear power outages.

"Some merchants were hoping for another price bull-run this year, and hoped importers would stock up more to prevent being caught short," said one trader in Singapore. "That's not happened - at least yet - as weather outlooks suggest a relatively mild winter, and because a lot of nuclear reactors, especially in Japan, have returned to service," he said.

Japan is expected to experience warmer-than-average weather between November and January, the country's official forecaster said this week, implying low demand for heating. The Japan Meteorological Agency as well as Australia's Bureau of Meteorology both said this month there was a 70 percent chance an El Nino weather pattern could emerge this year, causing unusually warm winters in the northern hemisphere.

Japan is the world's top LNG importer, but its purchases could also fall as it restarts nuclear power plants that were shut down after the reactor meltdown at Fukushima in 2011. Nine reactors have received regulatory approval to restart, with seven of them already in operation, more than most analysts had expected.

Storing unsold LNG tankers is costly, as these are among the most expensive merchant vessels to hire and operate. There is still a USD1 contango for January prices over December, which is around USD10.40 per mmBtu, a Singapore-based trader said.

But with LNG freight rates at six-year highs of more than USD140,000 per day, up from USD95,000 a day in September, storing LNG on tankers would eat up any profit from the spread.
MRC