The Urethane Blog

Shipments Improving

US chem shipments near two-year high

04 February 2016 17:53 Source:ICIS News

Set 3212387 Image 3212387a Photographer Blend Images/REX Shutterstock VARIOUS Tugboat And Container Ship In The Port Of Long Beach, Long Beach, Ca, Usa 14 Jun 2012
December chemical cargo values rose for the ninth straight month and almost reached the high of $64.46bn set in 2013. (Blend Images/REX Shutterstock)

HOUSTON (ICIS)–US chemical shipment values in December rose for the ninth straight month year-on-year and stayed within range of a two-year high, according to data released on Thursday by the US Department of Commerce.

In 2015, chemical shipment values increased 0.68% over 2014. From 2012-2015, US chemical shipment values annually increased or decreased roughly 1%; the only down year was in 2014, when values declined about 1%.

The value of US-made chemicals shipped increased 4% in December, compared with the same month in 2014.

The December value of $64.15bn fell short of the previous high of $64.46bn in December 2013.

Shipment values for all US manufacturing industries in 2015 dropped almost 4.0% for the year, with the dip in December – of a little more than 4% marking the 13th straight monthly decline.

Shipment values for all US industries totaled $467.02bn in December, compared with $488.25bn in the same month of 2014.

The US Census Bureau separates chemical shipments into four sectors: pesticides and fertilizers; pharmaceuticals; petrochemicals; and chemicals used in paints, coatings and adhesives.

Petrochemicals, which represent the second largest sector in terms of value, declined by 7% from December 2014, reflecting the decline in oil prices that brought a drop in derivative values in 2015.

Chemicals ranked as the third largest non-durable goods industry in the US in December, behind transportation equipment at $75.09bn and food products at $65.15bn.

The value of petroleum and coal products, usually ahead or even with chemical values but lower now because of diving oil prices in late 2014 and throughout 2015, totaled $40.64bn in December.

Pesticides and fertilizer values increased by high double-digit percentages for the ninth straight month, reflecting a continued turnaround in the US agricultural sector after the end of a few years of drought.

Pharmaceutical and medicine values rose 24% in December marking the eighth straight month of increases, and paints coatings and adhesives rose for the ninth month in a row, up almost 8% year on year.

(INSET PHOTO: Blend Images/REX Shutterstock)

By Lane Kelley|RSS|twitter|FreeChemNewsFeed