Hyosung shuts its new PDH unit for maintenance

Hyosung shuts its new PDH unit for maintenance

MOSCOW (MRC) -- Hyosung Vina Chemicals Co Ltd, part of South Korean Hyosung Corporation, has taken off-stream its new 600,000 tons/year propane dehydrogenation (PDH) unit in Southern Vietnam for maintenance turnaround, according to CommoPlast.

Thus, this PDH unit was shut on 4 February, 2021, for equipment repair and is expected to resume operations in early March, 2021.

As MRC informed before, the company started up its new PDH unit in Southern Vietnam in August, 2021. The start-up of this unit enabled the launch of the company's second polypropylene (PP) plant with a capacity of 300,000 tons/year at the same site.

The company already operates No. 1 PP plant in Southern Vietnam with the same production capacity, using external sources of propylene. It was shut down on 9 July, 2021, due to an unspecified technical issue and remained off-line between three to four weeks.

We remind that following the start-up at the newly constructed PP plant in Vietnam on 12 February 2020, it was reported that Hyosung reached on-spec cargoes approximately in mid-February. The first prime grade parcels were homo-PP yarn grade F501N with a melt index of 3.7.

According to MRC's ScanPlast report, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

Hyosung Corporation is a Korean industrial conglomerate, founded in 1957. It operates in various fields, including the chemical industry, industrial machinery, IT, trade, and construction.
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COVID-19 - News digest as of 11.02.2022

1. Linde increased profits and sales up 14% in Q4 2021

MOSCOW (MRC) -- Linde’s fourth-quarter 2021 adjusted operating profit rose by 14% year on year, driven by higher pricing, strong volumes and productivity initiatives, said the company. Sales revenue was also up by 14% on higher pricing and volumes, mostly from the electronics, chemicals and energy end markets. "The Linde team delivered another quarter of record financial results by growing EPS [earnings per share] 20%, operating cash flow 33% and increasing ROC [return on capital] to 17.7% - all while positioning the company for future growth with a contractually secured project backlog of USD13bn," said CEO Steve Angel. For the full year of 2021, sales increased by 13% to USD30.8bn while adjusted operating profit rose by 24% to USD7.2bn. Angel, who steps down as CEO next month, was optimistic on the company’s outlook. "Looking ahead, the economic outlook remains uncertain. However, I have confidence in our ability to grow EPS double-digit percent from our industry-leading supply network and project backlog," he said.

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TotalEnergies posts sharp rise in 2021 profit due to surging commodity prices

TotalEnergies posts sharp rise in 2021 profit due to surging commodity prices

MOSCOW (MRC) -- French oil major TotalEnergies on Thursday reported a sharp upswing in full-year profit, boosted by a huge rebound in commodity prices, according to CNBC.

The oil and gas giant said full-year 2021 adjusted net income came in at USD18.1 billion, while net income came in at USD16 billion. That compared with adjusted net income of USD4.1 billion and a net loss of USD7.2 billion the previous year.

Analysts polled by Refinitiv had expected full-year 2021 adjusted net profit to come in at USD17.1 billion.

For the final quarter of 2021, TotalEnergies reported adjusted earnings of USD6.8 billion, beating analyst expectations of USD6.1 billion.

TotalEnergies CEO Patrick Pouyanne said in a statement that the firm’s “multi-energy model demonstrated its ability to take full advantage of the very favorable environment, particularly in the LNG and electricity sectors.”

A surge in global gas prices through the final months of 2021, coupled with an oil price rally to seven-year highs, has seen the world’s largest fossil fuel giants rake in bumper revenues.

British oil major BP reported Tuesday that profits soared to an eight-year high of almost USD13 billion, while rival Shell posted annual revenues of USD19.3 billion. US competitors Chevron and Exxon Mobil recorded full-year net profits of USD15.6 billion and USD23 billion, respectively.

It marks a dramatic shift from 2020 when the oil and gas industry endured a dreadful 12 months by virtually every measure.

As MRC reported previously, earlier this month, TotalEnergies and Plastic Energy formed a joint venture to build a 33,000 tonne/year chemical recycling plant for plastics in Seville, south Spain. Financial details were not disclosed. The facility will be built within Plastic Energy facilities in Seville and expected to start up in 2025.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables, and electricity. The company rebranded itself from Total to TotalEnergies during Q2 2021. The French firm has announced allocating part of surplus revenues to share buybacks. Its 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
MRC

YNCC shut its cracker in Yeosu after the blast

YNCC shut its cracker  in Yeosu after the blast

MOSCOW (MRC) -- On Friday, Yeochun NCC (YNCC) Co., South Korea’s major petrochemical producer, shut down its cracker in Yeosu, South Korea after an explosion at the complex killed four people and injured four, reported The Korea Economic Daily.

The blast hit the No. 3 plant including a naphtha cracker with an annual ethylene capacity of 470,000 tons at around 9:26 am local time in Yeosu, a coastal city about 340 kilometers southwest of Seoul, according to the company and the government.

YNCC said the explosion took place during a test of the factory’s heat exchange system, although investigations by the authorities will figure out the exact cause of the incident.

The labor ministry ordered the company to suspend the plant’s operations and launched a probe.

YNCC, a 50-50 joint venture founded in 1999 between Hanwha Solutions Corp. and DL Chemical Co., formerly known as Daelim Industrial Co., operates a petrochemical complex to produce a total of 2.3 million tons of ethylene. The complex has two more crackers with each capacity of 900,000 tons and 915,000 tons.

As MRC reported earlier, YNCC restarted its No. 2 naphtha cracker in Yeosu with a delay on 17 January, 2021, following a two-and-a-half-month shutdown for expansion. The initial start-up was scheduled on 14 January, 2021. The expanded cracker is now capable of producing 915,000 tons/year of ethylene, up from the previous 580,000 tons/year and 550,000 tons/year of propylene, up from 270,000 tons/year previously. The new ethylene capacity would be supplied to DL Chemical’s new metallocene linear low density polyethylene (mPE) plant at the adjacent location.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

South Korea’s Yeochun NCC (YNCC) pyrolyzes naphtha to produce basic feedstock materials for the petrochemical industry. YNCC, a joint venture between South Korean firms Hanwha and DL Chemical Co, is a key exporter of ethylene and propylene in the country.
MRC

Chemplast Sanmar posts net profit growth in Q3FY22

Chemplast Sanmar posts net profit growth in Q3FY22

MOSCOW (MRC) -- Chemplast Sanmar Ltd., a major chloralkali manufacturer based in India, announced its results for the third quarter ended December 31, 2021, according to Kemicalinfo.

The company’s net profit grew 56.5% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.51 billion for the previous quarter.

Net sales decreased 13.6% to Rs 14.65 billion during the period ended December 31, 2021 as compared to Rs 16.95 billion during the previous quarter.

The company’s net profit grew 48.1% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.59 billion during the prior-year quarter.

Net sales increased 34.2% to Rs 14.65 billion during the period ended December 31, 2021 as compared to Rs 10.91 billion during the prior-year quarter.

Chemplast Sanmar Ltd is engaged in the business of manufacture and selling polyvinyl chloride (PVC) resins, caustic soda, chlorochemicals, refrigerant gas and industrial salt.

Ramkumar Shankar, MD, Chemplast Sanmar, said: “The demand outlook for both paste PVC and suspension PVC is quite strong due to significant deficit and high import dependence in the domestic market. Increasing tight supply at the global level for both these products augurs well for domestic manufacturers like us. With our dominant position in the Indian market and expansion plans to cater to the growing demand, we are well-placed to benefit from uptick in PVC market.”

As MRC reported earlier, Chemplast Sanmar undertook a planned shutdown at its Cuddalore PVC unit in September, 2020. Thus, the maintenance works at this unit began on September 27, 2020. The unit remained off-line for about 4-5 days. Located in Tamil Nadu, India, the Cuddalore PVC unit has a production capacity of 300,000 mt/year.

According to MRC's ScanPlast report, Russia's overall PVC production reached 87,100 tonnes in 2021, down by 3% year on year. Three producers slightly decreased their output.

Chemplast Sanmar Limited is a chemical company based in Chennai, Tamil Nadu. It is part of Sanmar Group which has businesses in Chemicals, Shipping, Engineering and Metals. It has a turnover of over Rs.65 billion and a presence in some 25 businesses, with manufacturing units spread over numerous locations in India.Chemplast Sanmar's manufacturing facilities are located at Mettur, Panruti, Cuddalore and Ponneri in Tamil Nadu, Shinoli in Maharashtra, and Karaikal in the Union Territory of Puducherry. It is a major manufacturer of PVC resins, chlorochemicals and piping systems. The Cuddalore PVC project commissioned in September 2009 is the largest such project to come up in Tamil Nadu. It's aggregate capacity of 235,000 tons makes it one of the largest PVC players in India.
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