Dow 113th Annual stockholder meeting elected new Board of Directors

(Dow) -- Stockholders at The Dow Chemical Company's 113th Annual Meeting today elected Arnold A. Allemang, Jacqueline K. Barton, James A. Bell, Jeff M. Fettig, Barbara H. Franklin, John B. Hess, Andrew N. Liveris, Paul Polman, Dennis H. Reilley, James M. Ringler, Ruth G. Shaw and Paul G. Stern to the Company's Board of Directors for one-year terms.

Stockholders also ratified the appointment of Deloitte & Touche LLP as the Company's independent auditor for 2010.

In other business, preliminary voting results indicate that stockholders have approved a Company-sponsored proposal lowering the threshold required for stockholder-initiated meetings from 50 percent to 25 percent.

Preliminary voting results also indicate that stockholders have defeated three stockholder-sponsored proposals: one regarding environmental remediation, a second on executive stock retention and a third on executive compensation.

MRCMRC reference

DuPont intends to acquire Zhonghao New Chemical Materials

(DuPont) -- DuPont recently announced its intent to acquire a minority share in Changshu 3F Zhonghao New Chemical Materials Co., Ltd. (Zhonghao), pending completion of definitive agreements and securing appropriate Chinese government approvals. Shanghai 3F New Materials Co., Ltd., is the majority owner of Zhonghao.

⌠Our relationship with Zhonghao has matured into a successful strategic partnership over the last eight years, said Gary Spitzer, president - DuPont Chemicals & Fluoroproducts. ⌠Zhonghao's world-class fluorochemical manufacturing capabilities will strengthen our ability to better serve our customers worldwide. It also will enable a faster response to rapidly growing regional markets for our broad portfolio of fluorochemicals across all applications. This applies for existing and future chemistries for refrigerants or for our specialty fluorochemicals markets.


Singapore to build floating oil and petrochemicals storage at Pulau Sebarok

(plastemart) -- Singapore plans to proceed with construction of floating oil / petrochemicals storage at Pulau Sebarok to help boost supply of the much needed oil/ petrochemicals storage in Singapore's oil refining/trading hub. Pulau Sebarok is not far from Jurong Island, Singapore's main oil/petrochemicals hub. The island country faces problem of shortage of land amid increased demand for oil storage by traders.

Hence JCT has decided to seek a multi-disciplinary team of consultants 'to develop the preliminary structural conceptual design and construct the VLFS storage facility at the proposed site at Pulau Sebarok'. The consultant is to prepare the engineering, procurement and construction (EPC) tender for the very large floating structures (VLFS), with the tender possibly going out by end 2010 or early 2011. JTC has also embarked on building first phase of Jurong Rock Cavern to store oil underground at an investment outlay of US$890 mln.

Initiated in 2007, Phase I, which developed a preliminary structural conceptual design of an attached-to-land VLFS storage. This was followed by Phase II, that enveloped areas like environmental impact, marine soil investigation and engineering surveys and sea current monitoring and metocean design data analysis. Feasibility studies on the VLFS were completed in March 2010. JTC studies earlier ascertained that to be economical, the minimum storage capacity of a VLFS should be 300,000 cubic metres, or equivalent to that of a very large crude carrier.


Indian Oil Corp's total spot naphtha exports for June stand at 65,000 tons

(plastemart) -- Indian Oil Corp (IOC) has reissued a tender to include an additional cargo for this month. On May 10, IOC offered 30,000 tons naphtha for June 10-12 loading from Kandla, but changed the tender in two days to include another 35,000 tons for June 7-10 loading from Chennai. With this, total spot naphtha for June has risen to 65,000 tons vs nearly 215,000 tons sold in May. IOC will be utilizing its naphtha as feedstock at its new Panipat naphtha cracker, impacting its export volumes.


PP imports into Russia increase 34%

MOSCOW (MRC) -- In January - March 2010 imports of polypropylene (PP) into Russia went up by 34% (to 26,63 kt) comparing with same period last year. In March PP imports have reached maximum volumes in five last months and formed 12.51 kt - according to MRC DataScope report.

Imports of propylene homopolymer (PP-homo) increased 19% (to 14,99 kt). Growing imports help to stabilize the situation in the Russian market. PP-homo supplies from Turkmenistan were resumed. In March Turkmenian material formed 48% from the whole PP-homo imports. Over 1 kt of the material were delivered by Linos, Ukrainian PP producer.

Imports of block-copolymer of propylene (PP-impact) have increased more than 1,5 times (to 5,33 kt). In March suppies of the material from Ineos Polyolefins (144 ton). Russian companies have received 433-NA00/Ineos Polyolefins grade.

Imports of stat-copolymer of polypropylene (PP-random) went up by 32% (to 3,7 kt). From the beginning of the year supplies of the material from Sabic have almost totally disappeared (in Q1 just 25 ton were delivered).


For more information please refer to MRC DataScope reports.