Around 60% of plastic in oceans is floating at the surface, say Dutch scientists

Scientists from the University of Utrecht in the Netherlands developed a new numerical model to estimate the amount of plastic in the ocean, said Sustainableplastics.

They found that the largest fraction of plastic mass is located at the ocean surface, not just 1% as previously assumed.

Recent estimates of plastic entering our oceans are one to two orders of magnitude larger than the amount measured floating at the surface. What explains the discrepancy? Researchers from the University of Utrecht, Netherlands, have developed a 3D global marine mass budget model to address this question. They shared their findings in “Global mass of buoyant marine plastics dominated by large long-lived debris,” recently published in nature geoscience.

Their numerical model considered the time period between 1980 and 2020 and measured the amounts of plastic in surface water, beaches, and in the deep ocean. It used an array of variables, including the rate at which plastic washes ashore, breaks up into smaller pieces, and becomes covered in algae, making it heavier and sink to the bottom. The academics said their model stands out from other computer models because of the record number of measurements and observations included.

Results show that the largest fraction of plastic mass is located at the ocean surface, between 59% and 62%. This is in stark contrast with the widely held assumption that only 1% of the total amount of plastic in the oceans floats on the surface, supporting the theory that there is a ‘missing sink’ of marine plastic pollution.

The study found, instead, that the total amount of buoyant marine plastic litter is much higher than previous estimates, at around 3,000 kilotons to 3,400 kilotons. It also found that the majority of plastic mass is contained in large plastic items, around 90% to 98%, and that these constitute most of the total buoyant plastic mass.

We remind, the joint venture between ALPLA and PTT Global Chemical (GC) introduces Thailand's first food-grade rPET to the market, which is already being used for Thailand's first 100% rPET bottles.

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Of the vast amount of plastic packaging waste generated daily around the globe, PET bottles reportedly achieve one of the highest recycling rates in the industry, said Sustainableplastics.

Once collected, the bottles must be separated from their caps - usually made from PP or PE - prior to being further processed. While not all bottles are collected with their caps today, that is due to change as the various tethered caps regulations start going into effect next year.

Origin Materials, a California based manufacturer of carbon-negative materials, saw an opportunity.The company has created ‘all-PET’ bottle caps, making 100% recycled PET possible from cap to bottle to improve post-consumer recycling.

“We identified a global sustainability challenge and an opportunity to solve it,” said John Bissell, co-Founder and co-CEO of Origin Materials. “An all-PET bottle and cap and closure system is an obvious, necessary next step in beverage packaging and recycling. With our process, we can make caps from 100% recycled PET or 100% bio-based PET, unlocking important sustainability and potentially performance benefits for our customers."

The new patent-pending caps can be produced from any type of PET, from recycled PET to the 100% bio-based, carbon-negative virgin PET produced based on Origin’s technology at competitive cost.

In terms of material properties, PET also offers benefits over the use of conventional polyolefin materials, providing a better oxygen and CO2 barrier than either HDPE and PP.

The market for the new cap is potentially huge: according to, among others, Precedence Research, the global caps and closures market size was estimated at USD 65.41 billion in 2021 and is expected to reach over US$ 92.5 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

The looming cap tethering mandates are likely to further increase the demand for Origin’s innovative caps and closures. Tethering mandates require that caps remain firmly attached to bottles after opening and during the product's life cycle, with the aim of reducing plastic litter on beaches and in the ocean.

Origin Materials has developed a technology platform that uses non-food, plant-based feedstocks. The main focus is on sustainably harvested wood, but agricultural waste, wood waste, and even old cardboard may be used. The platform catalytically converts C-6 cellulose into four isolated building-block chemicals in a process that sequesters carbon, the company says. One of these chemicals is CMF (chloromethyl furfural), which can be converted into bio-based paraxylene, one of the components needed to produce 100% bio-PET.

We remind, Origin Materials, a leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and Husky Technologies, a pioneering technology provider enabling the delivery of essential needs to the global community, announced a milestone in the commercialization of PET (polyethylene terephthalate) incorporating the sustainable chemical FDCA (furandicarboxylic acid) for advanced packaging and other applications.

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Brazilian petrochemical producer Braskem reported a net loss of 771 million reais (USD157.33 million) for the second quarter, narrowing the 1.4 billion reais net loss from the year ago period, said Reuters.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased 82% on year to R703m.

Braskem A (NYSE: BAK) reported second quarter EPS of USD-0.23, USD0.02 worse than the analyst estimate of USD-0.21. Revenue for the quarter came in at USD3.61B versus the consensus estimate of USD3.78B.

Braskem A's stock price closed at USD9.65. It is down -2.23% in the last 3 months and down -33.17% in the last 12 months.

Braskem A saw positive EPS revisions and negative EPS revisions in the last 90 days. See Braskem A's stock price’s past reactions to earnings here. According to InvestingPro, Braskem A's Financial Health score is "fair performance". Check out Braskem A's recent earnings performance, and Braskem A's financials here.

We remind, Braskem's Q1 main chemicals sales in Brazil fell 15%, year on year, while resin sales were stable, the Brazilian petrochemicals major said. Braskem puts under the main chemicals umbrella the following: ethylene, propylene, butadiene, cumene, gasoline, benzene, toluene and paraxylene. Main chemicals sales volume compared with 1Q 2022 decreased 15% due to lower demand in the period, which reflected in the utilisation rate of petrochemical crackers, the company said.

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South Korea’s Lotte Chemical Corp. has posted an operating loss for a fifth straight quarter due to sluggish petrochemical demand, said Kedglobal.

The company said on Wednesday its second-quarter operating loss on a consolidated basis reached 77 billion won (USD58.4 million), widening from a loss of 59.5 billion won in the year-earlier period.

The shortfall also ballooned from the first quarter’s loss of 26.2 billion won. Second-quarter sales declined 5.9% year on year to about 5 trillion won. Net loss stood at 14.03 billion won.

Lotte attributed the weak performance to lower petrochemical prices, triggered by reduced demand, and inventory valuation losses.

We remind, Lotte Chemical Corp. suffered its fourth consecutive operating loss in the first quarter due to a prolonged petrochemical slowdown amid the global economic downturn but its bet on battery materials is expected to rescue it in the second quarter.

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Brenntag SE, the world leader in chemical distribution, has adjusted its full-year guidance to the lower end of its previous range and reported second-quarter earnings that missed analysts’ estimates, said the company.

The company has also announced plans to cut 300 jobs — about 1.7% of its total workforce — and close an additional 25 sites worldwide in the second half of 2023 as part of a cost-cutting program.

Brenntag’s second-quarter net profit dropped year over year from EUR287.5 million to €186.9 million, below analysts’ consensus estimate of EUR217.8 million provided by S&P Capital IQ. Sales declined 15.9% year over year to EUR4.26 billion. Pretax profit dropped to EUR258.8 million from €403.4 million in the year-earlier period, and gross profit declined 10.8% to EUR1.02 billion.

The business was affected by continued destocking and sluggish demand in various end markets in combination with “normalized” supply chains and declines in chemical prices globally, Brenntag said.

We remind, Brenntag, the global market leader in chemicals and ingredients distribution, has become the exclusive distributor of Nouryon’s specialty polymers in the United State and Canada. As the sole distributor of Nouryon’s proprietary LumaTreat™ polymers, Brenntag can offer a portfolio including the patented LumaTreat™ smart-tagged polymers, Aquatreat™, Versaflex™, and Versa™ polymers which offer scale control and dispersancy.

Founded in 2005, Saifu distributes personal care ingredients, coatings, emulsion polymerization, and cleaning chemicals and provides related solution services. The company currently has over 100 employees and serves more than 1,000 customers in the Greater China region. Saifu provides customers with formulation expertise and product innovation services through a dedicated technology application center with two laboratories.

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