Huntsman ups Q4 guidance on broad gains

MOSCOW (MRC) -- Huntsman (The Woodlands, Texas) has updated its fourth-quarter outlook citing gains in all segments. The company now expects fourth-quarter adjusted EBITDA to increase 20–25% year-over-year (YOY), exceeding previous guidance, as per Chemweek.

Huntsman’s fourth-quarter 2019 adjusted EBITDA totaled USD182 million, down 12% YOY from USD207 million.

At the time of its third-quarter earnings release, Huntsman forecast fourth-quarter adjusted EBITDA in the polyurethanes segment “in line” with the third quarter’s USD156 million. The company now expects an increase of at least 20% owing to stronger than expected overall demand as well as higher methylene di-para-phenylene diisocyanate (MDI) component margins, particularly in Asia.

For the performance products segment, Huntsman has increased its adjusted EBITDA forecast from “near flat” versus the third quarter’s USD36 million to an increase of at least 15%, and for the advanced materials segment, from a slight decline from the third quarter’s USD25 million to “approximately in-line.”

Huntsman expects adjusted EBITDA in the textile effects segment to be “flat” versus the USD18 million turned in during the fourth quarter of 2019. That would represent a 125% increase over the 2020 third quarter’s USD$8 million.

As MRC reported earlier, Nanjing Jinling Huntsman, a joint venture between Huntsman and Sinopec Jinling, shut its propylene oxide plant in Nanjing (Nanjing, Jiangsu Province, China) on November 1 for scheduled maintenance. This plant with a capacity of 240,000 tonnes/year of propylene oxide was closed until approximately 25 November.

According to MRC's ScanPlast report, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately USD7 billion. The company's chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. The company operates more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions.
MRC

MOSCOW (MRC) -- Linde announced it has signed a memorandum of understanding (MoU) with Snam to jointly develop clean hydrogen projects and related infrastructure in Europe. Snam, a world leading energy infrastructure company, owns and operates the largest natural gas transmission network in Europe, having approximately 42,000 kilometers of pipeline across the continent, said the company.

Linde and Snam will work together to promote key technologies along the hydrogen value chain and develop opportunities for joint investments in commercial projects in the areas of production, distribution, compression and storage.

"Hydrogen is expected to play a significant role in achieving the European Green Deal goals," said Steve Angel, Chief Executive Officer, Linde. "We are pleased to collaborate with Snam, a recognized leader at the forefront of the energy transition, in the development of the clean hydrogen economy in Europe."

"With this agreement, we combine the know-how and innovative capabilities of both Linde and Snam in order to contribute to scaling-up hydrogen and reaching climate goals, aligned with the European Hydrogen Strategy," said Marco Alvera, Chief Executive Officer, Snam. "The collaboration with one of the world's leading companies in the sector strengthens our role as operator along the hydrogen value chain and lays the foundation for new joint projects."

As MRC informed earlier, Linde has entered into a long-term agreement with Samsung Electronics to supply ultra-high purity industrial gases for the South Korean tech giant’s latest semiconductor facilities in Pyeongtaek, South Korea. Currently the main supplier of industrial gases to Samsung’s existing facilities in Pyeongtaek, Linde said this second agreement will see the company build, own and operate air separation plants in Samsung’s latest world-class manufacturing complex.

As MRC informed earlier, Linde GmbH and Shell have announced an exclusive collaboration agreement on ethane-oxidative dehydrogenation (E-ODH) technology for ethylene production. The catalytic process is an alternative route to ethane steam cracking, offering the potential of economic advantages, acetic acid co-production and significantly lower overall carbon footprint through electrification of power input.

Ethylene and propylene are feedstocks for producing PE and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, excluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.

Linde is a global leader in the production, processing, storage and distribution of hydrogen. It has the largest liquid hydrogen capacity and distribution system in the world. The company also operates the world's first high-purity hydrogen storage cavern coupled with an unrivaled pipeline network of circa 1,000 kilometers to reliably supply its customers. Linde has installed close to 200 hydrogen fueling stations and 80 hydrogen electrolysis plants worldwide. The company offers the latest electrolysis technology through its newly formed joint venture ITM Linde Electrolysis GmbH.

MRC

MOSCOW (MRC) -- SKGC's joint venture Sinopec-SK Wuhan Petrochemical plans to restart its naphtha-fed steam cracker in Wuhan in the second-half of December as scheduled after the turnaround and debottlenecking, reported S&P Global with reference to the source's statement.

The cracker was shut down in October, S&P Global Platts reported previously.

SK Wuhan's steam cracker is able to produce 800,000 mt/year of ethylene and 400,000 mt/year of propylene.

After the debottlenecking, the cracker's ethylene production capacity will be increased to 1.1 million mt/year and propylene capacity to 550,000 mt/year.

The company will add a new 60,000 mt/year butadiene unit at the plant.

As MRC informed earlier, South Korea's SK Global Chemical (SKGC) shut its small No. 1 naphtha-fed steam cracker in Ulsan permanently on Dec. 10 due to aging-related issues. The No. 1 steam cracker is able to produce 200,000 mt/year of ethylene and 140,000 mt/year of propylene. The company will keep normal operations of its No. 2 steam cracker at the same location.

Ethylene and propylene are feedstocks for producing PE and PP.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,760,950 tonnes in the first ten months of 2020, up by 3% year on year. Only high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased. At the same time, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.
MRC

MOSCOW (MRC) -- South Korea's SK Global Chemical shut its small No. 1 naphtha-fed steam cracker in Ulsan permanently on Dec. 10 due to aging-related issues, reported S&P Global with reference to a company source's statement on Dec. 11.

The No. 1 steam cracker is able to produce 200,000 mt/year of ethylene and 140,000 mt/year of propylene.

The company will keep normal operations of its No. 2 steam cracker at the same location.

The No. 2 unit is able to produce 660,000 mt/year of ethylene, 350,000 mt/year of propylene and 110,000 mt/year of butadiene.

As MRC wrote before, South Korea's SK Global Chemical restarted its naphtha cracker in late January 2018, after a brief but unplanned one-day shutdown. The 660,000 tonnes-per-year (tpy) naphtha cracker was expected to be operating normally the following day after the restart.

Ethylene and propylene are feedstocks for producing PE and PP.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,760,950 tonnes in the first ten months of 2020, up by 3% year on year. Only high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased. At the same time, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.
MRC

1. Australia moves into top three countries for renewable investment

MOSCOW (MRC) -- Australia has moved into the three most attractive countries in the world for renewables investment for the first time due to rapid solar photovoltaic (PV) deployment, research shows, said Hydrocarbonprocessing. In a bi-annual index of the top 40 renewable energy markets worldwide by consultancy EY, the United States held on to top spot, followed by China. Australia rose to third place, from fourth in the last ranking in May, while India climbed to fourth from seventh due to record low solar tariff bids and a new target for renewables generation, EY said. Australia has deployed more than 10 gigawatts of roof-mounted solar PV, by far the largest per capita rooftop-PV deployment in the world. Its plans for renewable energy export links to Asia also helped elevate its position. However, Australia’s renewables investment fell in the second quarter due to the COVID-19 crisis and policy uncertainty and the government continues to subsidize both the natural gas and oil refining industries as part of efforts to revitalize the economy.


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