16 November 2009 11:33 [Source: ICIS news]
LONDON (ICIS news)--ICIS Chemical Business (ICB) magazine on Monday launched two new indexes to indicate the level of planned new projects and permanent plant shutdown activity.
The New Projects Index (NPI) and Plant Shutdowns Index (PSI), launched in the 16 November issue of ICB, will measure levels of activity and break them out on a geographic basis – from North America, Europe, Asia, Latin America, the Middle East and ?xml:namespace>
These monthly indexes will encompass petrochemicals, plastics, inorganics, industrial gases and specialty and fine chemicals.
“When it comes to new projects and shutdowns, the landscape of the global chemical industry is constantly shifting – often in a dynamic fashion,” said Joseph Chang, global editor of ICB.
While the indexes will be updated on a monthly basis in ICB, they will measure the level of activity over the prior three months.
For example, November’s indexes measure activity over August, September and October. December’s indexes will look at activity over the preceding three months: September, October and November.
The November NPI was 75. From August–October 2009, 75 new projects were announced, according to data compiled by Sue Royse from ICIS data & analytics. Of these projects, two-thirds were in Asia, while 23% were in North America and
The November PSI was 27. From the same August-October period, there were 27 announced permanent plant shutdowns. Of these shutdowns, 22, or 81%, were announced in North America and
ICB has expanded its weekly New Projects section to include permanent plant shutdowns.
The indexes are based on new project and shutdown announcements reported on ICIS news.
The New Projects Index is based on announcements of new projects, as well as first-mentions of new projects. Feasibility studies are excluded.
The Plant Shutdowns Index is based on announced permanent shutdowns and first-mentions of shutdowns, including mothballings, where the facilities are taken offline indefinitely. Maintenance shutdowns are excluded.
Levels of new capacities and the capacities of plants being shut down are not covered by these indexes.
“We realise that our new indexes will not capture the capacity magnitude of specific new projects and plant shutdowns,” noted Chang.
“While by no means perfect metrics, we hope the NPI and PSI will give readers an indication of the level of activity that is taking place in the global chemical industry, and importantly, where in the world it is happening,” he added.
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