Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 11 June 2021.

Nutrien to increase potash production in response to tightening global market conditions
Nutrien will increase potash production by approximately 500,000 tonnes in the second half of 2021 compared to earlier expectations, in response to tightening global potash market conditions, the Canadian fertilizer producer said.

Shippers expanding container fleets, but port congestion, strong demand likely to keep rates elevated
Container shipping companies are investing in new capacity, but rates are likely to remain elevated amid the global shortage that has seen average container costs rise by three or four times, especially for material from Asia to Latin America.

Cargill and Helm to build renewable BDO plant in Iowa
Cargill and Helm are to build a 1,4-butanediol (BDO) plant that would save up to 93% of greenhouse gas (GHG) emissions compared with current production technologies, the US agri-food major and German chemicals producer said on Tuesday.

INTERVIEW: Chemours well supplied on TiO2 feedstocks despite disruptions – CEO-elect
US-based titanium dioxide (TiO2) producer Chemours is well supplied on the raw materials front, despite industry supply chain disruptions, its incoming CEO said on Tuesday.

INTERVIEW: Chemours to focus M&A strategy on fluoro and TiO2 to boost value – CEO-Elect
Chemours will focus its mergers and acquisitions (M&A) strategy on its fluoro businesses and titanium dioxide (TiO2), its incoming CEO said on Tuesday.

US Eastman sells tyre additives product lines for $800m to One Rock Capital
Eastman has reached a definitive agreement to sell the rubber additives and other product lines and related assets of its global tyre additives business for $800m to One Rock Capital Partners, the US chemicals company said on Wednesday.

INSIGHT: Major Brazilian chemical companies are up for sale amid M&A surge
Two of Brazil’s biggest chemical companies, Braskem and Oxiteno, are up for sale with a third reportedly attracting an offer from a US private equity firm.

INSIGHT: US CPI inflation jumps again but won’t change Fed’s transitory view
US headline inflation as measured by the Consumer Price Index (CPI) jumped again in May, but it is unlikely to shift the US Federal Reserve’s view that today’s high level of inflation is transitory.

Canada’s oil industry suffers another blow
Canada’s oil industry has suffered yet another blow as the Keystone XL oil pipeline was formally cancelled this week, leaving taxpayers in oil-rich Alberta province with a Canadian dollar (C$) 1.3bn ($1.1bn) loss on their government’s investment in the project.