Maleic anhydride (MA)

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The APAC region accounts for the largest share of the maleic anhydride (MA) market in value and volume. This is due to increased industrialisation, urbanisation, and growth in income and domestic demand. Growth trends in the construction, automotive, wind energy and biodegradable plastics industries, and demand for slip additives for polymers also impact the landscape. There are weekly reports for Europe and the US.

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Maleic anhydride (MA) news

APIC '24: PODCAST: India inventories, China downstream weakness weigh on acetic acid demand

SINGAPORE (ICIS)–ICIS editors Hwee Hwee Tan and Jady Ma discuss current trends in Asia's acetic acid market. China demand softens on difficulty in passing on high costs to downstream users India inventory at multi-month high since end-2023 South Korea plant restart dents northeast Asia spot demand (This podcast first ran on 24 May.) Visit ICIS during APIC ’24 on 30-31 May at Booth 13, Grand Ballroom Foyer of the Grand InterContinental Seoul Parnas in South Korea. Book a meeting with ICIS here.

29-May-2024

PODCAST: H2 May acetic acid demand weighed by India inventories, China downstream weakness

SINGAPORE (ICIS)–In this podcast, ICIS editors Hwee Hwee Tan and Jady Ma discuss the current trends in Asia's acetic acid market. China demand softens on difficulty in passing on high costs to downstream users India inventory at multimonth high since end 2023 South Korea plant restart dents northeast Asia spot demand

24-May-2024

Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 3 April 2024. Asian BD discussions under pressure as buying slows down By Ai Teng Lim 03-May-24 11:06 SINGAPORE (ICIS)–Asian spot butadiene (BD) import discussions are slipping due to slowing demand, fueled by holiday closures this week and persistent external macroeconomic headwinds. SABIC Q1 net income falls 62%, warns of industry overcapacity By Nurluqman Suratman 02-May-24 10:55 SINGAPORE (ICIS)–SABIC's net income fell by 62% year on year to Saudi Riyal (SR) 250 million in the first quarter amid a drop in prices and sales volumes, the chemicals major said late on Wednesday. CHINAPLAS ’24: PODCAST: China's polymer industry targeting high-end products amid fierce competition By Zhibo Xiao 30-Apr-24 16:17 SINGAPORE (ICIS)–ICIS analysts Sijia Li, Yvonne Shi, Zhibo Xiao, Lucy Shuai, Joanne Wang and Cindy Qiu discuss the trends in China's polyolefins and polyester markets. China domestic acetic acid demand to weaken; sellers eye more exports By Jady Ma 30-Apr-24 11:25 SINGAPORE (ICIS)–China’s domestic acetic acid market may face headwinds from increased supply and weaker demand in May after generally firming up in April, while producers are exporting more volumes. Asia BPA makers will not increase run rates until margins improve By Li Peng Seng 29-Apr-24 12:25 SINGAPORE (ICIS)–Asian bisphenol A (BPA) makers are expected to stay entrenched in the months ahead despite falling Chinese imports, as they seek to combat firm feedstock costs. Saudi Aramco, Chinese Rongsheng plan liquids-to-chemicals JV in Jubail By Nurluqman Suratman 29-Apr-24 11:55 SINGAPORE (ICIS)–Saudi energy giant Aramco and Chinese Rongsheng Petrochemical are planning a joint venture liquid-to-chemicals expansion project in Jubail, Saudi Arabia.

06-May-2024

US Huntsman assets in Europe spare from energy hit, but EU policies erratic – CEO

RIO DE JANEIRO (ICIS)–Huntsman’s assets in Europe are not energy intensive and have been spared from the energy crisis, but more broadly, the 27-country EU is still lacking a comprehensive policy to address the issue, the CEO at US chemicals major Huntsman said on Friday. Peter Huntsman, one of the chemical industry’s most outspoken CEOs, said the company is not planning to divest any asset in Europe but said the region should stop its “nonsense” about reindustrialization and implement policies that create actual economic growth. The CEO added he is feeling “bullish” about the coming quarters regarding demand, arguing the chemical industry had gone to “hell” and was just coming back from the steep low prices of 2023. In North America, Huntsman said the construction industry should post a marked recovery in the coming quarters after two years in the doldrums because of high interest rates because, he argued, even with current interest rates, the industry will adapt. Huntsman’s sales and earnings in the first quarter fell again, year on year, as higher sales volumes could not offset low selling prices; the company said, however, that a notable improvement in sales volumes quarter on quarter should be a signal that the recovery is underway. Among others, Huntsman produces polyurethanes (PUs), which are widely used in the construction and automotive sectors. EUROPE NONSENSEPeter Huntsman on Friday first referred to the EU’s need to stop its “nonsense” about reindustrialisation, without elaborating further, but he was more measured when asked about the company’s assets in that region. He nonetheless made clear that he thinks European governments have yet to formulate, two years into the region’s biggest energy crisis in decades, appropriate policies to address the issue. “What I am most concerned about Europe is high energy costs. Most of our businesses there are not energy intensive assets, so they are competitive; in fact we have some strong businesses there, and our margins in Advanced Materials [the division] are stronger there than in other parts of the world,” said Huntsman, speaking to reporters and chemical equity analysts on Friday. “There are businesses in Europe in which you will do OK, such as aerospace, lightweighting. But if you are energy intensive, if you produce fertilizers, glass, cement… you have some portfolio concerns there. Energy prices are too high, and this is not being addressed by governments, they still have to come up with realistic policies to address that.” Europe’s construction has also taken a hit from the crisis after interest rates shot up to bring down inflation, with projects put on hold and many building companies in financial distress. Huntsman’s CEO said he is not hoping for a strong recovery anymore in that sector in Europe, but simply for stability, which could come with governments taking more decisive action to prop up GDP growth. “If we look at the past two years… We are looking for stability: it is the volatility that concerns us the most. We need to see Europe stop its the nonsense policies around reindustrialization and get the economy growing once again,” he said. See Huntsman assets in Europe at bottom table. NORTH AMERICA CONSTRUCTIONPeter Huntsman was feeling more optimistic about North America’s construction sector, where even if high interest rates stay for longer, builders will adapt to the situation, easing the way towards a recovery. “US builders are doing two things: if interest rates were to stay where they are, they are going to adapt, perhaps building smaller units, and if rates do come down, that will open up demand quite a bit higher than it has been in the last couple of years. There are big gaps [in housing stock] which need to filled,” said Huntsman. “I am increasingly feeling better and better [about an improvement in demand]. In Q1 we saw a lot of inventory drawdown, now we are seeing a slow, steady recovery as we try to get back to average inventory levels. By and large inventory levels feel pretty thin in MDI [methylene diphenyl diisocyanate] and we look forward to moderate growth in coming quarters.” MDI is consumed mainly in PU foams, used in construction, refrigeration, packaging, and insulation. MDI is also used to make binders, elastomers, adhesives, sealants, coatings and fibers. Huntsman’s CFO, Philip Lister, also at the press conference, added that in a normal year the company’s growth in volumes from the first quarter to the second would be around 5%, as construction and other seasonal activities enter their annual peak. “This year, we are expecting more [than 5% growth],” said Lister. CHINA ELECTRIC VEHICLESHuntsman’s CEO said China’s electric vehicle (EV) sector continues to boom, although potential trade restrictions in the EU, after those imposed by the US, could start denting China’s dominance in that sector. However, the company also knows what China’s dominance in the sector, thanks to the country’s strong public support for it, can mean for western producers: in 2023, Huntsman suspended an EV battery materials project in the US because of aggressive imports from China. But the CEO added that even if China’s EV sector slowed down, the company would still be able to tap into other growing markets such as lightweighting or insulation, among others. “The automotive sector continues to be one of the strongest areas of growth in China. How long that continues [remains to be seen], but probably for some time still,” said Huntsman. “There is a broader question about [trade in the EV chain] with the US, which has been extremely limited, or Europe, where there is a lot of talk about limitations to China’s EVs.” He added that despite sluggish activity in the residential construction sector because of financial woes in building companies, exemplified by the demise of major company Evergrande, subsectors such as energy conservation, insulation, building materials and infrastructure are still doing well. “By and large we are seeing in China a slow but steady recovery in volumes and pricing. Elsewhere, I am getting more bullish. A year ago, we were in a nightmare, and we expected a recovery in the second half [of 2023] which didn’t happen and got worse and worse, until we found ourselves in hell,” said Huntsman. “At the beginning of this year we have seen good, reliable, consistent growth. What we need to see is that growth continues in the second half of this year.” HUNTSMAN ASSETS IN EUROPE Product Location Capacity (in tonnes) Aniline Wilton, UK 340,000 Epoxy resins Bergkamen, Germany 18,000 Monthey, Switzerland 120,000 Duxford, UK 10,000 Isocyanates Runcorn, UK 70,000 Maleic anhydride (MA) Moers, Germany 105,000 MDI Rozenburg, The Netherlands 470,000 Nitrobenzenes Wilton, UK 455,000 Polyalolef Grimsby, UK 15,000 Polyester polyols Huddersfield, UK 20,000 Rozenburg, The Netherlands 86,000 Unsaturated polyester resins (UPRs) Ternate, Italy 8,000 Source: ICIS Supply & Demand Database Front page picture: Huntsman’s headquarters in The Woodlands, Texas  Source: Huntsman Additional reporting by Miguel Rodriguez-Fernandez

03-May-2024

Besieged by imports, Brazil’s chemicals put hopes on hefty import tariffs hike

SAO PAULO (ICIS)–Brazilian chemicals producers are lobbying hard for an increase in import tariffs for key polymers and petrochemicals from 12.6% to 20%, and higher in cases, hoping the hike could slow down the influx of cheap imports, which have put them against the wall. For some products, Brazil’s chemicals trade group Abiquim, which represents producers, has made official requests for the import tariffs to go up to a hefty 35%, from 9% in some cases. On Tuesday, Abiquim said several of its member companies “are already talking about hibernating plants” due to unprofitable economics. It did so after it published another set of somber statistics for the first quarter, when imports continued entering Brazil em masse. Brazil’s government Chamber of Foreign Commerce (Camex) is concluding on Tuesday a public consultation about this, with its decision expected in coming weeks. Abiquim has been busy with the public consultation: it has made as many as 66 proposals for import tariffs to be hiked for several petrochemicals and fertilizers, including widely used polymers such polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET), polystyrene (PS), or expandable PS (EPS), to mention just a few. Other chemicals trade groups, as well as companies, have also filed requests for import tariffs to be increased. In total, 110 import tariffs. HARD TO FIGHT OFFBrazil has always depended on imports to cover its internal chemicals demand, but the extraordinary low prices coming from competitors abroad has made Brazil’s chemicals plant to run with operating rates of 65% or lower. More and more, the country’s chemicals facilities are becoming white elephants which are far from their potential, as customers find in imported product more competitive pricing. Considering this dire situation and taking into account that the current government in Brasilia led by Luiz Inacio Lula da Silva may be more receptive to their demands, Abiquim has put a good fight in publica and private for measure which could shore up chemical producers’ competitiveness. This could come after the government already hiked import tariffs on several products in 2023 and re-introduced a tax break, called REIQ, for some chemicals which had been withdrawn by the previous Administration. While Brazil’s chemicals production competitiveness is mostly affected by higher input costs, with natural gas costs on average five times higher than in the US, the industry is hopeful a helping hand from the government in the form of higher import tariffs could slow down the flow of imports into Brazil. As a ‘price taker region’ given its dependence on imports, Latin American domestic producers have taken a hit in the past two years. In Brazil, polymers major Braskem is Abiquim’s commanding voice. Abiquim, obviously, has always been very outspoken – even apocalyptic – about the fate of its members as they try to compete with overseas countries, namely China who has been sending abroad product at below cost of production. The priorities in China’s dictatorial system are not related to the balance of markets, but to keep employment levels stable so its citizens find fewer excuses to protest against the regime which keeps them oppressed. Capitalist market dynamics are for the rest of the world to balance; in China’s dictatorial, controlled-economy regime the priority is to make people feel the regime’s legitimacy can come from never-ending economic growth. The results of such a policy for the rest of the world – not just in chemicals but in all industrial goods – is becoming clear: unprofitable industries which cannot really compete with heavily subsidized Chinese players. The results of such a policy in China are yet to be seen, but subsiding at all costs any industry which creates employment may have debt-related lasting consequences: as they mantra goes, “there is no such thing as a free lunch.” Abiquim’s executive president urged Lula’s cabinet to look north, to the US, where the government has imposed hefty tariffs on almost all China-produced industrial goods or raw materials for manufacturing production. “[The hikes in import tariffs] have improved the US’ scenario: despite the aggressive advance in exports by Asian countries, the drop in US [chemicals] production in 2023 was of 1%, while in Brazil the index for production fell nearly by 10%,” said Andre Passos. “The country adopted an increase in import taxes of over 30% to defend its market from unfair competition. The taxation for some inputs, such as phenol, resins and adipic [acid], for example, exceeds three digits. “Here, we are suggesting an increase in rates to 20% in most claims … We need to have this breathing space for the industry to recover,” he concluded. As such, the figures for the first quarter showed no sign of imports into Brazil slowing down. The country posted a trade deficit $9.9 billion during the January-March period; the 12-month accumulated (April 2023 to March 2024) deficit stood at $44.7 billion. A record high of 61.2 million tonnes of chemicals products entered Brazil in Q1; in turn, the country’s industry exported 14.6 million tonnes. Abiquim proposals for higher import tariffs Product Current import tariff Proposed tariff Expandable polystyrene, unfilled, in primary form 12.6% 20% Other polystyrenes in primary forms 12.6% 20% Carboxymethylcellulose with content > =75%, in primary forms 12.6% 20% Other polyurethanes in liquids and pastes 12.6% 20% Phthalic anhydride 10.8% 20%  Sodium hydrogen carbonate (bicarbonate) 9% 35% Copolymers of ethylene and alpha-olefin, with a density of less than 0.94 12.6% 20% Other orthophthalic acid esters 11% 20% Other styrene polymers, in primary forms 12.6% 20% Other silicon dioxides 0% 18% Other polyesters in liquids and pastes  12.6% 20% Commercial ammonium carbonates and other ammonium carbonates 9% 18% Other unsaturated polyethers, in primary forms 12.6% 20% Polyethylene terephthalate, with a viscosity index of 78 ml/g or more 12.6% 20% Phosphoric acid with an iron content of less than 750 ppm 9% 18% Dinonyl or didecyl orthophthalates 11% 20% Poly(vinyl chloride), not mixed with other substances, obtained by suspension process 12.6% 20% Poly(vinyl chloride), not mixed with other substances, obtained by emulsion process 12.6% 20% Methyl polymethacrylate, in primary form  12.6% 20% White mineral oils (vaseline or paraffin oils) 4% 35% Other polyetherpolyols, in primary forms 12.6% 20% Other unfilled epoxy resins in primary forms 12.6% 20% Silicon dioxide obtained by chemical precipitation 9% 18% Acrylonitrile-butadiene rubber in plates, sheets, etc 11% 35% Other organic anionic surface agents, whether or not put up for retail sale, not classified under previous codes 12.6% 23% Phenol (hydroxybenzene) and its salts 7% 20% Fumaric acid, its salts and esters 10 ,8% 20% Plasticizers and plastics 10 ,8% 20% Maleic anhydride 10 ,8% 20% Adipic acid salts and esters 10 ,8% 20% Propylene copolymers, in primary forms 12.6% 20% Adipic acid 9% 20% Unfilled polypropylene, in primary form 12.6% 20% Filled polypropylene, in primary form 12.6% 20% Methacrylic acid methyl esters 10 ,8% 20% Other ethylene polymers, in primary forms 12.6% 20% Acrylic acid 2-ethylhexyl esters 0% 20% 2-Ethylexanoic acid (2-ethylexoic acid) 10. 8% 20% Other copolymers of ethylene and vinyl acetate, in primary forms 12.6% 20% Other unfilled polyethylenes, density >= 0.94, in primary forms 12.6% 20% Polyethylene with a density of less than 0.94, unfilled 12.6% 20% Other saturated acyclic monoalcohol acetates, c atom <= 8 10. 8% 20% Polyethylene with a density of less than 0.94, with filler 12.6% 20% Triacetin 10. 8% 20% Sodium methylate in methanol 12.6% 20% Stearic alcohol (industrial fatty alcohol) 12.6% 20% N-butyl acetate                              11% 20% Stearic acid (industrial monocarboxylic fatty acid) 5% 35% Alkylbenzene mixtures 11% 20% Organic, non-ionic surface agents 12.6% 23% Ammonium nitrate, whether or not in aqueous solution 0.0% 15% Monoethanolamine and its salts 12.6% 20% Isobutyl alcohol (2-methyl-1-propanol) 10.8% 20% Butan-1-ol (n-butyl alcohol) 10.8% 20% Styrene-butadiene rubber (SBR), food grade as established by the Food Chemical Codex, in primary forms 10.8% 22% Styrene                                9% 18% Hexamethylenediamine and its salts 10.8% 20% Latex from other synthetic or artificial rubbers 10.8% 35% Propylene glycol (propane-1, 2-diol) 10.8% 20% Preparations 12.6% 20% Linear alkylbenzene sulfonic acids and their salts 12.6% 23% 4,4'-Isopropylidenediphenol (bisphenol A, diphenylolpropane) and its salts 10.8% 20% Dipropylene glycol 12.6% 20% Butanone (methyl ethyl ketone) 10.8% 20% Ethyl acetate                                 10.8% 20% Methyl-, ethyl- and propylcellulose, hydroxylated 0.0% 20% Front page picture: Chemical production facilities outside Sao Paulo  Source: Union of Chemical and Petrochemical industries in the state of Sao Paulo (Sinproquim) Focus article by Jonathan Lopez Additional information by Thais Matsuda and Bruno Menini

30-Apr-2024

TOPIC PAGE: Sustainability in the fertilizers industry

On this topic page, we gather the latest news, analysis and resources, to help you to keep track of developments in the area of sustainability in the fertilizers industry. LATEST NEWS HEADLINES New urea application rules to be implemented in England from 1 April By Deepika Thapliyal 27-Mar-24 LONDON (ICIS)–In England, famers will only be able to apply solid or liquid urea that is treated with an inhibitor from 1 April, according to new regulations from the Department for Environment, Food & Rural Affairs (Defra) that come into force next month. UPM Biochemicals launches new range of bio-based plant stimulants By Sylvia Traganida 27-Mar-24 LONDON (ICIS)–UPM Biochemicals has launched a new range of bio-based plant stimulants which is an alternative to fossil raw materials-based products, the Finnish paper and renewable chemicals firm said on Tuesday. Mabanaft signs letter of intent for supply of green ammonia from Canada By Sylvia Traganida 19-Mar-24 LONDON (ICIS)–Germany-headquartered energy firm Mabanaft has signed a letter of intent (LOI) with US-based Pattern Energy for the supply of green ammonia to Mabanaft. Yara Growth Ventures invests in electrolysis technology for low-cost renewable hydrogen By Sylvia Traganida 08-Mar-24 LONDON (ICIS)–Norwegian fertilizer major Yara has invested in Danish electrolysis technology company Dynelectro through its corporate venture capital team Yara Growth Ventures. Yara signs agreement with Acme Cleantech subsidiary on green ammonia By Sylvia Traganida 01-Mar-24 LONDON (ICIS)–Norwegian fertilizer major Yara has signed an agreement with GHC SAOC for supply of ammonia with reduced carbon emissions from Acme to Yara on a long-term basis. Idemitsu to join US clean ammonia project By Stefan Baumgarten 27-Feb-24 LONDON (ICIS)–Idemitsu Kosan has agreed to join a 1.2 million tonne/year clean ammonia project that Mitsubishi Corp and Proman plan to develop at Lake Charles, Louisiana, US, it said on Tuesday. Germany’s Heraeus invests in Japanese ammonia tech company By Stefan Baumgarten 22-Feb-24 LONDON (ICIS)–German technology group Heraeus has invested an undisclosed amount in Tsubame BHB, a Japanese company that has developed a precious metal-based technology for decentralized ammonia production. Malaysia’s PCG, Sarawak Petchem agree to study low-carbon ammonia and urea plant By Nurluqman Suratman 21-Feb-24 SINGAPORE (ICIS)–Malaysia’s PETRONAS Chemicals Group (PCG) and methanol producer Sarawak Petchem on Wednesday signed an agreement for a joint feasibility study aimed at establishing a low-carbon ammonia and urea production facility in Bintulu, Sarawak. Egypt’s Helwan signs agreement to produce black urea By Deepika Thapliyal 20-Feb-24 LONDON (ICIS)–In Egypt, Helwan has signed an agreement with SML-INNO UK Ltd to set up the world's first vertical integrated unit to produce black urea, with a capacity of 130,000 tonnes annually, the company said today. EU eases climate proposals after widespread farmer protests By Chris Vlachopoulos 07-Feb-24 LONDON (ICIS)–European Commission President Ursula von der Leyen announced on Tuesday that the EU has agreed to ease key demands in its climate proposal plans, following intense protests from farmers. Tecnimont awarded engineering contract for Portugal green hydrogen, ammonia plant By Graeme Paterson 05-Feb-24 LONDON (ICIS)–Tecnimont has been awarded an engineering contract to develop an integrated green hydrogen and green ammonia plant at Sines, Portugal, its parent company Maire said. EU CARBON BORDER ADJUSTMENT MECHANISM (CBAM) EXPLAINED What is it? The risk of carbon leakage frustrates the EU’s efforts to meet climate objectives. It occurs when companies transfer production to countries that are less strict on emissions, or when EU products are replaced by more carbon-intensive imports. This new mechanism would counteract this risk by putting a carbon price on imports of certain goods from outside of the EU. How will it work? EU importers will buy carbon certificates corresponding to the carbon price that would have been paid, had the goods been produced under the EU's carbon pricing rules. Conversely, once a non-EU producer can show that they have already paid a price for the carbon used in the production of the imported goods, the corresponding cost can be fully deducted for the EU importer. This will help reduce the risk of carbon leakage by encouraging producers in non-EU countries to make their production processes greener. A reporting system will apply from 2023 with the objective of facilitating a smooth roll out and to facilitate dialogue with non-EU countries. Importers will start paying a financial adjustment in 2026. How is the fertilizer industry affected? The fertilizer industry is one of the sectors to fall under the CBAM. The more energy-intensive nitrogen fertilizers will be affected most in the sector by the mechanism. NEW UREA APPLICATION NORMS IN ENGLAND The UK’s Department for Environment, Food & Rural Affairs (DEFRA) has imposed new regulations on urea application in England. Famers will only be able to apply solid or liquid urea that is treated with an inhibitor from 1 April. The move is aimed to reduce ammonia emissions, and would increase costs for farmers by an estimated £40/tonne. The new rules apply to any fertilizer that contains 1% or more of urea nitrogen, with applications of solid urea or liquid (urea ammonium nitrate) fertilizer from 1 April having to include a urease inhibitor Untreated solid urea or liquid UAN fertilizer can be applied between 15 January to 31 March each year. Untreated liquid UAN fertiliser can be applied after 1 April if agronomic justification is provided by a certified fertilizers advisor, mentioning ammonia losses will be at or below the level of when a urease inhibitor is included. Foliar urea applications targeting the crop, using normal spray nozzles do not require a urease inhibitor. The implementation of the Defra regulations was delayed by two years due to higher fertilizer prices and lack of supply following the covid pandemic and the Ukraine war. PREVIOUS  NEWS HEADLINES EU proposes relaxation in policy following farmer protests Biden Administration invests $207m in domestic fertilizer and clean energy endeavours Brazil’s state of Ceara, Bp sign MoU for green hydrogen site  Atome Energy in talks with buyers for green fertilizer from Paraguay unit Sweden's Cinis targets Asia potash market with Itochu partnership Helwan selects Eurotecnica's Euromel G5 technology for new melamine facility in Egypt India’s Adani Group plans $24bn green energy park; RIL to commission giga complex INPEX and LSB pick technology for US ammonia project Bayer partners with energy firms on hydrogen cluster in Germany S Korean group picks KBR tech for Malaysian green ammonia project Abu Qir signs MoU for green ammonia project in Egypt Yara aims to launch first container ship to run off clean ammonia India’s Odisha state approves green hydrogen, ammonia, methanol projects ADM announces launch of regenerative agriculture program in Brazil Fertiglobe completes first renewable ammonia shipment with carbon certification Allied Green Ammonia picks Topsoe’s tech for Australia project Germany’s VNG looks to secure offtake from Norwegian low carbon ammonia plant Gentari enters into agreement with AM Green to invest into a green ammonia delivery platform ITOCHU Corporation, Orascom Construction sign MOU for development of ammonia bunkering in Suez Canal India developing port infrastructure for green hydrogen exports S Korea, Saudi Arabia firms sign 46 pacts, includes blue ammonia project INSIGHT: CBAM reporting begins, fertilizer exporters to EU challenged to account for carbon KBR to supply green ammonia tech to Madoqua Power2X site in Portugal Germany’s SOM to build green hydrogen, ammonia facility in Brazil’s Piaui state US ADM and Syngenta sign MoU to collaborate on low carbon oilseeds to meet biofuel demand Tecnicas Reunidas, Allied Green Ammonia to build green hydrogen and green ammonia plant in Australia Australian fertilizer producer Orica accelerates climate change targets Nestle, Cargill and CCm Technologies launch joint UK trial on sustainable fertilizer EnBW acquires stake in planned Norwegian ammonia plant  Yara Germany signs agreement for decarbonisation of cereal cultivation using green fertilizers Hyphen, ITOCHU ink MoU to explore potential Namibia hydrogen collaboration  INSIGHT: BASF grapples with demand trough, slow road back SABIC AN ships low-carbon urea to New Zealand US Cargill and John Deere collaborate to enable revenue for farmers adopting sustainability Canada’s Lucent Bio announces approval of biodegradable nutrient delivery patent Aker, Statkraft’s 10-year PPA to spur European renewable ammonia push further BASF, Yara Clean Ammonia to evaluate low-carbon blue ammonia production facility in US Gulf Coast Yara Clean Ammonia, Cepsa to launch clean hydrogen maritime corridor EU details CBAM reporting obligations Saudi Arabia’s Ma’aden exports its first low-carbon blue ammonia shipments to China US Bunge and Nutrien Ag announce alliance to support sustainable farming practices Maire subsidiary Stamicarbon wins US green ammonia engineering contract India’s IFFCO launches liquid nano-DAP fertilizer EU Parliament backs CBAM, emissions trading measures OCP granted €100m green loan to build solar plants at Morocco facilities EU unveils plans to tackle greenwashing India’s IFFCO and CIL to manufacture nano DAP for three years USDA awards Ostara funds to boost sustainable phosphate fertilizer output Canadian prime minister confirms fertilizer emission goal is voluntary US fertilizers industry increases carbon capture in 2021 – TFI Indian president calls for reduction in chemical fertilizer use IFFCO plans to export nano urea to 25 countries Amman selects Elessent Clean Technologies for Indonesia sulphuric acid plant Lotte Chemical forms clean ammonia consultative body with RWE and Mitsubishi Corporation Global 2020-2021 specialty fertilizer demand growth led by north America, Asia BASF and Cargill extend enzymes business and distribution to US Saudi Aramco awards sulphur facilities overhaul contract to Technip India sets green hydrogen targets for shipping, oil & gas, fertilizer sectors Germany misses climate target despite lower energy consumption TFI reacts to US Congress passing the Water Resources Development ActHelm becomes a shareholder in UK bio-fertilizer company Unium Bioscience Yara inks deal to deliver fossil-free green fertilizers to Argentina Canadian firms plan fuel cell generator pilot using green ammonia Deepak Fertilizers awards contract to reduce emissions, increase productivity Saudi Aramco launches $1.5bn sustainability fund to support net zero ambition CF Industries and ExxonMobil plan CCS project in Louisiana Canada’s plan to cut fertilizer emissions is voluntary – minister Canada’s fertilizer emission goal raises food production concerns Uniper, Vesta to cooperate on renewable ammonia site in the Netherlands German Uniper to work with Japan’s JERA on US clean ammonia projects ADNOC ships first cargo of low-carbon ammonia to Germany US Mosaic and BioConsortia expand collaboration to microbial biostimulant IMO deems Mediterranean Sea area for sulphur oxides emissions control Canada's Soilgenic launches new enhanced efficiency fertilizers technology for retail Austria's Borealis aims to produce 1.8m tonnes/year of circular products by 2030 European Parliament rejects proposed carbon market reform IFA ’22: southern Africa looks to bio-fertilizer as cheaper, sustainable option IFA '22: Indian farmers will struggle to embrace specialty fertilizers – producer Canadian Nutrien plans to build world’s largest clean ammonia facility in Louisiana Japan's JGC Holdings awards green ammonia plant contract to KBR Bayer to partner with Ginkgo to produce sustainable fertilizers Australia Orica and H2U Group partner on Gladstone green ammonia project Canada sets tax credit of up to 60% for carbon capture projects UK delays urea restrictions to support farmers as fertilizer costs at record high EU states agree to back carbon border tax Yara to develop novel green fertilizer from recycled nutrients USDA announces plans for $250m grant programme to support American-made fertilizer Canada seeks guidance to achieve fertilizer emissions target Fertilizer titan Pupuk Indonesia develops hydrogen/blue ammonia business India launches green hydrogen/ammonia policy, targets exports Canada AmmPower to develop green hydrogen and ammonia facility in Louisiana US DOE awards grant to project to recover rare earth elements from phosphate production Fertiglobe, Masdar, Engie to develop green hydrogen for ammonia production Czech Republic’s Spolana enhances granular AS production India’s Reliance to invest $80bn in green energy projects Yara, Sweden’s Lantmannen aim to commercialise green ammonia by 2023 Novatek and Uniper target Russia to Germany blue-ammonia supply chain Fertz giant Yara goes green with electrification of Norwegian factoryCanada Arianne Phosphate exploring use of phosphate for hydrogen technology FAO and IFA renew MoU to promote sustainable fertilizer use Sumitomo Chemical, Yara to explore clean ammonia collaboration Sri Lanka revokes ban on imports Tokyo scientists convert bioplastic into nitrogen fertilizer Aramco plans Saudi green hydrogen, ammonia project China announces action plan for carbon peaking & neutrality Saudi Aramco targets net zero emissions from operations by 2050 Fertiglobe goes green with Red Sea zero-carbon ammonia pro Australian fertilizer major Incitec Pivot teams up for green ammonia study INTERVIEW: BASF to scale up new decarbonisation tech in second half of decade – CEO India asks fertilizer companies to speed up production of nano DAP Japan's Itochu set to receive first cargo of blue ammonia for fertilizer use Norway's Yara acquires recycled fertilizers maker Ecolan Bayer Funds US start-up aims to cut nitrogen fertilizer use by 30% BP: Green ammonia production in Australia feasible, but needs huge investment Origin and MOL explore shipping green ammonia from Australia India’s IFFCO seeks to export nano urea fertilizer Sri Lanka reinstates ban on import of chemical fertilizers Nutrien to cut greenhouse gas emissions 30% by 2030 RESOURCES IFA – Fertilizers and climate change  TFI – Sustainability report 

27-Mar-2024

Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 15 March 2024. INSIGHT: Indorama exit from PET feedstock markets to spur China PTA exports By Nurluqman Suratman 15-Mar-24 11:42 SINGAPORE (ICIS)–Demand for China’s purified terephthalic acid (PTA) will get a boost as Indorama Ventures Ltd (IVL), a global producer of downstream polyethylene terephthalate (PET), shifts away from expensive integrated operations. INSIGHT: Policies announced in China Two Sessions will impact domestic petchems market in 2024 By Jimmy Zhang 14-Mar-24 23:07 SINGAPORE (ICIS)–China's Two Sessions earlier this month – the yearly meetings where its legislature sets laws and its advisory body offers policy recommendations – attracted attention from the market for the growth targets set and announcements on expected future economic development. According to Premier Li Qiang, China's GDP growth target is “around 5.0%”. US outage to boost March Asia-Atlantic spot acetic acid, VAM trades By Hwee Hwee Tan 14-Mar-24 12:26 SINGAPORE (ICIS)–Asia-Atlantic spot trades for acetic acid and vinyl acetate monomer (VAM) are expected to increase after supply gaps in the US and Europe emerged following an unexpected plant outage in the US. Asia caustic soda market could be underpinned by snug supply, limited vessel space By Jonathan Chou 13-Mar-24 15:40 SINGAPORE (ICIS)–Asia's liquid caustic soda spot supply may remain snug in the near term, while demand could continue its gradual growth into the second quarter (Q2) of 2024. PODCAST: China Group III base oils market sees supply, demand changes By Whitney Shi 12-Mar-24 15:53 SINGAPORE (ICIS)–In this podcast, ICIS Senior Industry Analyst Whitney Shi and ICIS Assistant Industry Analyst Jady Ma talk about supply and demand changes in China’s Group III base oils market. Saudi Aramco '23 profit falls on softer crude; ’24 focus on downstream growth By Nurluqman Suratman 11-Mar-24 12:37 SINGAPORE (ICIS)–Energy giant Saudi Aramco's net profit in 2023 fell by 24.7% to Saudi riyal (SR) 454.8bn ($121.3bn), weighed by weaker crude oil prices as well as lower refining and chemical margins.

18-Mar-2024

PODCAST: China Group III base oils market sees supply, demand changes

SINGAPORE (ICIS)–In this podcast, ICIS Senior Industry Analyst Whitney Shi and ICIS Assistant Industry Analyst Jady Ma talk about supply and demand changes in China’s Group III base oils market. Shi also discusses the recent launch of the weekly Group III N100 and N150 (Local Origin) ex-terminal quotes in the China base oils pricing assessment and the value this brings for market players. Group III base oils domestic supply increasing in recent years Improving quality of domestic Group III base oils Domestic products market share rises amid stable import volumes

12-Mar-2024

Japan's MGC to close OX, PA plants in Jan '25; exits plasticizers business

SINGAPORE (ICIS)–Japan's Mitsubishi Gas Chemical (MGC) will suspend its production of orthoxylene (OX) and phthalic anhydride (PA) at its Mizushima site from mid-January 2025, and is selling off its 50% stake in CG Ester Corp, effectively exiting the plasticizers business. Continued unprofitability, aging equipment, and forecasts of shrinking demand prompted MGC's decision to halt OX and PA production next year, the company said in a statement on 26 February. MGC produces 30,000 tonnes/year of OX and 40,000 tonnes/year of PA at its Mizushima site. OX is mainly used as a raw material for PA, as well as for solvents and pharmaceutical and agrochemical intermediates. PA is used as a raw material for plasticizers. In a separate statement, MGC said that it has sold off its 50% stake in plasticizers maker CG Ester Corp to its partner JNC Corp in a deal worth yen (Y) 734m ($4.9m). The share transfer was scheduled for 29 March this year, after which, CG Ester will be fully owned by JNC. CG Ester can produce 70,000 tonnes/year of plasticizers via two production sites in Mizushima and Ichihara, according to its website. CGE will cease manufacturing at its Mizushima plant by March 2025 and will take over operations of JNC Petrochemical Corp's manufacturing facility in Ichihara and will also continue to operate its own facility at the site, JNC Corp said in a statement. ($1 = Y150.5) Additional reporting by Michelle Liew

01-Mar-2024

Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 2 February. Europe February ethylene contract price up €5/tonne from January The European ethylene contract reference price for February has been set at €1,190/tonne, up by €5/tonne from January. Europe PO 2024 adder decreases by €350/tonne The European propylene oxide (PO) contract adder for 2024 has decreased by €350/tonne. European R-PET flake continues strong upward trend into February Prices for free delivered (FD) colourless (C) recycled polyethylene terephthalate (R-PET) flake and food-grade pellet (FGP) have increased for February as buyers conclude deals to secure limited material. Europe PA demand uptick to persist in February Sentiment among European phthalic anhydride (PA) producers is firming even though demand increases seen so far have not compensated for price losses during contractual negotiations in late 2023, according to buyers and sellers. Fertilizer powerhouse China increased 2023 market share despite government restrictions China's fertilizer exports increased last year after the blip of 2022.

05-Feb-2024

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