Our 13th annual World Aromatics & Derivatives Conference takes place in Berlin next week. Jointly organised as always by International eChem and ICIS, it features a must-hear list of speakers: ExxonMobil: Europe Business Director Tim Stedman will give a global market overview Dow Chemical: Global Business Director Pieter Platteeuw will discuss the future for benzene […]
Tag Archives | Dow
This week’s company results have been keenly awaited, as the industry seeks to form a view on what happens next to demand and profits. My new IeC colleague Paul Satchell reviews them, from the point of view of a highly-experienced financial analyst, in his ‘Chemicals Viewpoint’. But the blog thought it would also be interesting […]
The past few weeks have not been good for the chemical industry, with 4 major companies suffering significant problems: BASF warned that “customer demand in key markets has declined significantly” since October, and have temporarily shutdown 80 plants worldwide, whilst reducing production at another 100 plants. Dow suffered a major reverse with the last minute […]
Andrew Liveris, Dow CEO, has consistently warned that we are facing a major recession. Today, in a Bloomberg interview, he spells out the need for “radical actions” to “take out capacity”. He notes that Dow’s volumes are down 10%-20% this quarter, and expects this to continue into H1 next year. And he forecasts that “we […]
Many Asian companies have been cutting back petchem production in recent weeks. Now TOTAL have become the first to follow suit in Europe, with the announcement that they will shutdown the Carling No 2 cracker for a month from mid-November. These decisions are never easy. But as the blog has noted before, when times are […]
Chemical companies tend to trade on ‘open book’ terms with long-established customers. They are also supportive when those customers are facing problems in their end-markets. In a recession, these admirable qualities can become expensive. ICIS news reports tonight that the bankruptcy of Plastech Engineered Products in the US has led to debts of nearly $5m […]
Gazprom is becoming a player to watch in petchems. For decades, observers have speculated that Russia might increase its petchem activity. A recent comment by Gazprom deputy CEO, Valery Golubev, seemed to bring this concept closer to reality. He said that Gazprom aimed to increase its ethylene production by 350% to 7.66 million tonnes (MT) […]
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Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts.
Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.