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  • The CEO's survival guide

    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...
    Posted to ICIS Blogs (Weblog) by Anonymous on 01-06-2009

  • A "V-", "U-", "W-" or "L-shaped" recession?

    There is now general agreement that we are in a global recession. The World Bank's new 'Global Economic Prospects' report forecasts global GDP growth of 2.5% in 2008, and just 0.9% next year. This is well below the 3% level that signals recession. And the Bank also forecasts that world trade...
    Posted to ICIS Blogs (Weblog) by Anonymous on 12-14-2008

  • The end of the beginning

    Last week's BASF announcement marked the end of Phase One of the downturn. This began over a year ago , with the first signs of financial crisis. Now, we will move into Phase Two - a long, multi-year recession, which will also include several bear-market rallies. The end of this "beginning"...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-23-2008

  • BASF sees "massive decline"

    6 weeks ago , I warned that "the scariest moment of my 30 year chemical career" was about to be repeated. This had been in 1980, when "for some weeks it seemed that demand for many petchem products had simply stopped". Three weeks later, the blog confirmed that "the moment it...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-19-2008

  • August highlights

    Many readers have been out of the office during August on a well-deserved break. I am therefore highlighting below the main postings over the past month, in the hope this will help them to catch up quickly on key developments - please click on the highlighted title if you want to read the original posting...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-01-2008

  • BASF – the oil and gas company

    BASF Chairman Jürgen Hambrecht sounded confident last week, following their annual results . 2007 sales were €58bn (up 10% on 2006), and income from operations was €7.3bn (up 8%). However, Q4 saw sales up just 1.6% at €14.7bn, and income actually down 3.4% at €1.6bn. The main culprit in Q4 was chemicals...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-24-2008
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