The Urethane Blog
May 18, 2022
Saudi-US chemical JV Sadara’s profit slips 97% on higher feedstock costs
Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.
RIYADH: Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a 97 percent drop in profit in the first quarter as compared to the same quarter a year earlier.
On the back of higher feedstock prices, profits of the giant JV went down from SR1.6 billion ($431 million) to SR45.9 million, a bourse filing showed.
The decline in profit was coupled with a revenue drop of over 11 percent to SR3.9 billion during the quarter.
Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.
However, it highlighted that selling prices were higher compared to the same quarter last year.
May 18, 2022
Saudi-US chemical JV Sadara’s profit slips 97% on higher feedstock costs
Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.
RIYADH: Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a 97 percent drop in profit in the first quarter as compared to the same quarter a year earlier.
On the back of higher feedstock prices, profits of the giant JV went down from SR1.6 billion ($431 million) to SR45.9 million, a bourse filing showed.
The decline in profit was coupled with a revenue drop of over 11 percent to SR3.9 billion during the quarter.
Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.
However, it highlighted that selling prices were higher compared to the same quarter last year.
May 16, 2022
17 Campus Boulevard, Suite 100, Newtown Square, PA 19073
Ph: (610) 436-4314
www.atmos-technologies.com
Three-firm merger creates new environmental solutions provider: Atmos Technologies
NEWTOWN SQUARE, PA — The merger of Rusmar, Inc., NCM Odor Control and Crowley Chemical Company brings three long-established, progressive chemical companies under one roof.
The new firm, Atmos Technologies, is a one-of-a-kind, global environmental solutions provider focusing on sustainability, recycling and regulatory compliance across a wide array of markets essential to our communities.
“The original companies, on their own, did not represent who we are as a total company,” Atmos CEO Phil Johnson said. “We wanted to add visibility to the breadth of environmental solutions and technologies we provide to our customers and the community as the new entity we have become.”
Founded in 1986 in West Chester, PA, Rusmar, Inc. specialized in the development of aqueous foam formulations and custom application equipment to enhance regulatory compliance, eliminate VOC emissions and control odors prevalent at solid waste landfills and environmental remediation sites.
NCM Odor Control developed odor neutralization formulations and custom-fabricated application equipment essential to preventing nuisance odors from escaping to surrounding communities. Solutions include stationary, perimeter and mobile systems for odor abatement at the source that are widely utilized across North America at solid waste landfills, transfer stations and environmental remediation sites. The company was founded in 1987 in Broadheadsville, PA.
Crowley Chemical Company celebrated its 100th year in existence in 2020. It was formerly headquartered in New York City. The company’s expertise lies in the production of specialty blended solutions utilized in a wide array of sustainable end products. Markets include renewable tire & rubber applications, a patented 100% recycled asphalt technology and sustainable adhesives. Crowley’s technologies are widely used as extenders, process aids and formulary components to improve performance and processing while lowering costs.
“This merger enhances the breadth and depth of potential solutions for our customers’ real regulatory, compliance and environmental challenges,” Johnson said. “As a one-stop solutions provider, Atmos is the only company in business in North America providing this wide a range of products and services to industries who need them.”
May 16, 2022
17 Campus Boulevard, Suite 100, Newtown Square, PA 19073
Ph: (610) 436-4314
www.atmos-technologies.com
Three-firm merger creates new environmental solutions provider: Atmos Technologies
NEWTOWN SQUARE, PA — The merger of Rusmar, Inc., NCM Odor Control and Crowley Chemical Company brings three long-established, progressive chemical companies under one roof.
The new firm, Atmos Technologies, is a one-of-a-kind, global environmental solutions provider focusing on sustainability, recycling and regulatory compliance across a wide array of markets essential to our communities.
“The original companies, on their own, did not represent who we are as a total company,” Atmos CEO Phil Johnson said. “We wanted to add visibility to the breadth of environmental solutions and technologies we provide to our customers and the community as the new entity we have become.”
Founded in 1986 in West Chester, PA, Rusmar, Inc. specialized in the development of aqueous foam formulations and custom application equipment to enhance regulatory compliance, eliminate VOC emissions and control odors prevalent at solid waste landfills and environmental remediation sites.
NCM Odor Control developed odor neutralization formulations and custom-fabricated application equipment essential to preventing nuisance odors from escaping to surrounding communities. Solutions include stationary, perimeter and mobile systems for odor abatement at the source that are widely utilized across North America at solid waste landfills, transfer stations and environmental remediation sites. The company was founded in 1987 in Broadheadsville, PA.
Crowley Chemical Company celebrated its 100th year in existence in 2020. It was formerly headquartered in New York City. The company’s expertise lies in the production of specialty blended solutions utilized in a wide array of sustainable end products. Markets include renewable tire & rubber applications, a patented 100% recycled asphalt technology and sustainable adhesives. Crowley’s technologies are widely used as extenders, process aids and formulary components to improve performance and processing while lowering costs.
“This merger enhances the breadth and depth of potential solutions for our customers’ real regulatory, compliance and environmental challenges,” Johnson said. “As a one-stop solutions provider, Atmos is the only company in business in North America providing this wide a range of products and services to industries who need them.”
May 16, 2022
The Aggregated MDI Market Fell First and Then Rose in April
ECHEMI 2022-05-06
At the beginning of the month, the domestic market price of aggregated MDI was 19,316 yuan/ton, and the price at the end of the month was 18,800 yuan/ton, a decrease of 2.67% during the month and a year-on-year decrease of 0.40%.
In April 2022, there are 41 commodities in the chemical sector that have increased month-on-month in the commodity price change list, of which 9 commodities have increased by more than 5%, accounting for 8.2% of the monitored commodities in this sector; the top 3 commodities are Formic acid (36.15%), caustic soda (13.35%), flake alkali (9.32%). A total of 66 commodities decreased month-on-month, and 29 commodities decreased by more than 5%, accounting for 26.4% of the monitored commodities in this sector; the top 3 products with a decrease were propylene glycol (-20.05%) and acetic acid (-18.39%). , Glycine (-16.77%). The average change this month was -1.87%.
At the beginning of the month, the domestic aggregated MDI market rose in a narrow range. One of the main reasons is that the logistics and transportation are severely restricted, the traffic at the expressway is congested, and the logistics and transportation costs are soaring. On the other hand, the spot supply in some areas is tight, especially in East China, and the quotations of mainstream traders are gradually rising.
In the first ten days of the month, the domestic aggregated MDI market declined in a narrow range. Traders offer scarce, more bearish outlook. The downstream sees the downturn in the market and increases the inquiring atmosphere, but transactions are rare.
In the middle of the month, the domestic aggregated MDI market continued to decline, mainly due to the low start of terminal enterprises and sluggish demand. Coupled with the high transportation costs, it is difficult to find a car, the regional control is strict, and the transportation is not smooth. Mainstream traders ship with them and talk about it one by one.
At the end of the month, the domestic aggregated MDI market stopped falling and rose, showing signs of recovery. Compared with East China, the logistics and transportation are relatively smooth, and some downstream customers who just need it are active in inquiries, and the demand has increased slightly. Traders are more reluctant to sell and negotiate. As the May Day holiday is approaching, some downstream companies have the intention to stock up, which has contributed to the recovery of the aggregated MDI price.
In terms of raw materials, pure benzene: styrene, caprolactam and other long-term losses, the price of pure benzene continues to rise and lack of motivation. However, new units such as Tianjin Dagu and Maoming Petrochemical styrene entered the market in May, and under the background of the gradual fading of the impact of the health incident and the recovery of the overall downstream consumption, the demand in May is expected to be stronger than that in April.
In terms of aniline, the aniline market fell sharply in April. The main reasons for the downturn of the aniline market are the obvious increase in the supply side, and the continued weakness of the demand side. The cost-side support remains strong, and it is difficult for aniline to fall below the “10,000 yuan throne”.
In terms of enterprises, Yantai Wanhua’s 1.1 million tons/year plant is operating normally; Ningbo Wanhua’s 1.2 million tons/year plant is operating normally; Shanghai Covestro’s 600,000 tons/year plant is operating normally; Shanghai Huntsman’s 380,000 tons/year plant is operating normally Normal operation; Shanghai BASF’s 220,000-ton/year plant is operating normally; Chongqing BASF’s 400,000-ton/year unit is operating normally; Tosoh Ruian’s 80,000-ton/year unit is operating normally.
Looking at the market outlook, it is still difficult for the market to fluctuate greatly after the May Day, and traders may lower their offers due to the large supply of goods at the beginning of the month. Analysts of the aggregated MDI of the business community predict that the domestic aggregated MDI market may enter the sorting stage.
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