The Urethane Blog
Everchem Updates
VOLUME XXI
September 14, 2023
Everchem’s exclusive Closers Only Club is reserved for only the highest caliber brass-baller salesmen in the chemical industry. Watch the hype video and be introduced to the top of the league: — read more
September 19, 2021
Shipping Lines Think Spot Rates Have Peaked
By Ann Koh September 14, 2021, 3:58 AM EDT
- Hapag-Lloyd halts spot rate hikes for Asia-Europe and U.S.
- Extreme freight rates on these routes are peaking, Hapag says
1:21
One of the world’s biggest shipping lines has decided to stop increasing spot freight rates on routes out of Asia to Europe and the U.S. as it sees an end to the rally that has seen prices hit records.
Hapag-LLoyd AG thinks spot rates have peaked and further increases are “not necessary,” according to Nils Haupt, the Hamburg-based company’s head of corporate communications. The move comes after French rival CMA CGM SA last week froze rates, saying it was prioritizing long-term relationships following a rally that has seen some spot rates jump more than sixfold in the past year.
The price gains came as the economic recovery coincided with reduced shipping capacity, putting inflationary pressure on manufacturers in Asia already grappling with higher commodity and electricity prices. While the historic rally led maritime regulators in the U.S., China and Europe to meet virtually last week to discuss the impact on snarled global supply chains, Hapag-LLoyd’s decision “was not requested by governments or regulators,” Haupt said.
While many shipping lines have taken advantage of rising spot prices, the rally is expected to “come to an end at some point,” said Jim Bureau, chief executive officer of logistics digital platform provider JAGGAER.
“The supply chain is extremely fragile right now,” he said. “How much more cost can carriers practically take on without increasing financial risk on both buyer and supplier?”
September 17, 2021
CPI: Carpenter CEO, Brad Beauchamp, to join Steering Committee
On 13 September 2021, the Center for the Polyurethanes Industry (CPI) of the American Chemistry Council (ACC) announced that Brad Beauchamp, president and CEO of Carpenter Co., will join CPI’s Steering Committee. The Steering Committee is the leadership group for CPI and sets policy and direction for its advocacy, product stewardship and outreach efforts.
“Brad Beauchamp is a recognised and proven leader in our field,” said Lee Salamone, senior director, CPI. “We are thrilled he’ll be sharing his insights and experience to help direct association activities on a wide range of issues facing the polyurethanes industry.”
Carpenter Co. is one of the world’s largest chemical manufacturers, producing polyurethane foam, bedding and furniture foam, carpet cushion, expanded polystyrene, air filtration media, polyether polyols, chemical systems and tyre fill. Beauchamp has over 30 years of experience in the chemical industry and has been with Carpenter for the past decade. He has been leading the company since 2020.
“The American Chemistry Council has been assisting the industry for over a century and continues to play a critical role in areas such as sustainability, advocacy and customer awareness,” said Beauchamp. “As a company, we are excited to join the CPI and look forward to contributing to such an important organisation.”
www.americanchemistry.com
September 17, 2021
CPI: Carpenter CEO, Brad Beauchamp, to join Steering Committee
On 13 September 2021, the Center for the Polyurethanes Industry (CPI) of the American Chemistry Council (ACC) announced that Brad Beauchamp, president and CEO of Carpenter Co., will join CPI’s Steering Committee. The Steering Committee is the leadership group for CPI and sets policy and direction for its advocacy, product stewardship and outreach efforts.
“Brad Beauchamp is a recognised and proven leader in our field,” said Lee Salamone, senior director, CPI. “We are thrilled he’ll be sharing his insights and experience to help direct association activities on a wide range of issues facing the polyurethanes industry.”
Carpenter Co. is one of the world’s largest chemical manufacturers, producing polyurethane foam, bedding and furniture foam, carpet cushion, expanded polystyrene, air filtration media, polyether polyols, chemical systems and tyre fill. Beauchamp has over 30 years of experience in the chemical industry and has been with Carpenter for the past decade. He has been leading the company since 2020.
“The American Chemistry Council has been assisting the industry for over a century and continues to play a critical role in areas such as sustainability, advocacy and customer awareness,” said Beauchamp. “As a company, we are excited to join the CPI and look forward to contributing to such an important organisation.”
www.americanchemistry.com
September 17, 2021
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals
Author: Will Beacham
2021/09/17
China’s PP prices have risen slowly since September amid limited plant production capacity, and the peak season in September and October may not be as obvious as in previous years. Watch the video as ICIS industry analyst Shawn Xiao tells us about the current uptrend in domestic PP prices.
China’s domestic propylene oxide (PO) market sees fresh round of price adjustments amid tight supply and weak exports of polyether polyols. Listen in as ICIS analyst Jady Ma and senior information director Chris Qi discuss the market dynamics in the latest ICIS podcast.
The domestic polyethylene (PE) market in China will gain momentum in the fourth quarter as supply may be tightened by operational cutbacks at some domestic plants from September, as well as expected turnarounds in the Middle East.
Domestic epichlorohydrin (ECH) supply may tighten in China as a major facility in Jiangsu province may shut in the wake of the country’s newly minted environmental policies.
Asia’s glycerine market is likely to continue to face upward pressure from soaring container freight rates and strong demand amid concerns over supply security.
Meanwhile, ongoing robust demand across most segments, persistent feedstock constraints and import delays continue to strain Europe epoxy resins supply and the tightness could extend into Q4, as Asian import disruption intensifies.
European toluene availability continues to have some length in the bulk sector, with consumption limited. Market conditions are expected by some to remain stable throughout September.
By contrast, European monoethylene glycol (MEG) spot supply remains limited for larger quantities, but imports are expected to improve in the next couple of months.
Updated on 17 Sep
September 17, 2021
TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals
Author: Will Beacham
2021/09/17
China’s PP prices have risen slowly since September amid limited plant production capacity, and the peak season in September and October may not be as obvious as in previous years. Watch the video as ICIS industry analyst Shawn Xiao tells us about the current uptrend in domestic PP prices.
China’s domestic propylene oxide (PO) market sees fresh round of price adjustments amid tight supply and weak exports of polyether polyols. Listen in as ICIS analyst Jady Ma and senior information director Chris Qi discuss the market dynamics in the latest ICIS podcast.
The domestic polyethylene (PE) market in China will gain momentum in the fourth quarter as supply may be tightened by operational cutbacks at some domestic plants from September, as well as expected turnarounds in the Middle East.
Domestic epichlorohydrin (ECH) supply may tighten in China as a major facility in Jiangsu province may shut in the wake of the country’s newly minted environmental policies.
Asia’s glycerine market is likely to continue to face upward pressure from soaring container freight rates and strong demand amid concerns over supply security.
Meanwhile, ongoing robust demand across most segments, persistent feedstock constraints and import delays continue to strain Europe epoxy resins supply and the tightness could extend into Q4, as Asian import disruption intensifies.
European toluene availability continues to have some length in the bulk sector, with consumption limited. Market conditions are expected by some to remain stable throughout September.
By contrast, European monoethylene glycol (MEG) spot supply remains limited for larger quantities, but imports are expected to improve in the next couple of months.
Updated on 17 Sep
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