HOUSTON (ICIS)–Rates for shipping containers continue to surge as carriers are implementing peak season surcharges while capacity remains tight from Red Sea diversions, but some shipping analysts think there are signs that the dramatic rate of growth may be slowing, which leads off this week’s logistics roundup.     Published by: www.icis.com Adam Yanelli 14-Jun-2024

LONDON (ICIS)–Celanese has declared force majeure on acetic acid and vinyl acetate monomer (VAM) in the “Western Hemisphere”, which is understood to include the Americas and the Europe, Middle East and Africa region. The producer attributed the force majeure declaration to “operational failures experienced by multiple suppliers of critical raw materials essential to Celanese’s production […]

LONDON (ICIS)–Average yearly recycled polypropylene (R-PP) post-industrial black bale values in 2024 to date are at their lowest level on record on the back of the impact of the cost-of-living crisis on key end-use sectors such as construction and horticulture. May monthly average post-industrial black bale prices in 2024 reached the lowest level seen in […]

SAO PAULO (ICIS)–Petrochemicals producers in the production hub of Altamira, in the Mexican state of Tamaulipas, keep declaring force majeure as a severe drought halved water supplies to industrial players. On Thursday, a spokesperson for Cabot said to ICIS the company has also declared force majeure for carbon black from its Altamira facilities, which adds […]

HOUSTON (ICIS)–Brazil producer Petrobras announced that its executive board has approved the resumption of operating activities of the fertilizer plant Araucaria Nitrogenados in the state of Parana. The plant has been mothballed since 2020 and the producer said it is now expected to be restarted in the second half of 2025. Located next to the […]

LONDON (ICIS)–Business momentum in the eurozone hit the highest level in 12 months in May, pushing further into growth territory as service sector orders surged and the manufacturing industry showed signs of recovery. The eurozone composite purchasing managers’ index (PMI) rose to 52.2 during the month compared to 51.7 in April as stronger demand buoyed […]

SEOUL (ICIS)–Japan’s government aims to marshal $1 trillion in public and private investment over the next decade to fuel economic growth and meet its climate commitments, the chairman of the Japan Petrochemical Industry Association (JPCA) said on Friday. To catalyze this massive investment, the Japanese government has launched issuance of climate transition bonds totaling more […]

SEOUL (ICIS)–The European chemical industry is bracing for continued weakness in 2024, with demand remaining soft globally due to sluggish growth in the US and a slowdown in China, an industry official said on Friday. “The European industrial sectors are out of recession but still a long way from any dynamic growth,” European Chemical Industry […]

SEOUL (ICIS)–The global petrochemical supply glut will take some time to run its course and focusing on portfolio optimization and higher value products would be the way forward, LG Chem CEO Hak Cheol Shin said on Friday. “China will continue to build although there is a slowdown in new projects,” said Shin, who is also […]