Lotte Chemical Titan restarts HDPE plant in Malaysia

MOSCOW (MRC) -- Lotte Chemical Titan has restarted a high density polyethylene (HDPE) plant, according to Apic-online.

A Polymerupdate source in Malaysia informed that the plant restarted early this week. It was shut unexpectedly owing to technical issues.

Located at Pasir Gudang, Johor in Malaysia, the plant has a production capacity of 120,000 mt/year.

As MRC reported earlier, in early 2014, Hyundai Oilbank and Lotte Chemical Corp. established Hyundai Chemical as a new venture in the "oil refining and synthetic fiber materials business". The venture, owned 60 % by Hyundai and 40% by Lotte, will invest up to 1.2-trillion won, with production targeted to begin in the second half of 2016 at Hyundai’s Daesan plant in South Chungcheong province.

In early 2013, a major South Korean pertochemical and polymer producer, Honam Petrochemical, and one of the largest South Korean PET and PTA producer, KP Chemical, decided to merge into a new company with a new name Lotte Chemical Corporation. The newly formed company believes that this move will strengthen its position both in domestic and international markets and is in a line with Lotte Chemical's strategy to become a leading global company.

The Lotte Group currently has a presence in Indonesia via its subsidiary, Honam Petrochemicals, which acquired Malaysia’s polyolefin major Titan Chemicals in July 2010. Included in the acquisition was Titan’s Indonesian subsidiary - PT Titan Petrokimia Nusantara (TPN), which has a polyethylene (PE) production capacity of 450,000 tonnes/year.
MRC

MOSCOW (MRC) -- The sustainability rating agency Oekom Research has awarded Evonik with the prime status for the comprehensive commitment to sustainability management, reported Evonik on its site.

Evonik was rated for the first time and immediately received an overall rating of B- in the chemical industry. This assessment of its sustainability performance placed the group in the top field of the chemical industry.

Oekom Research particularly appraised Evonik’s environmental management, climate strategy, the measures taken to evaluate substance or product risks, but also the corporate governance.

As MRC reported before, Evonik Industries is making an investment in the double-digit-million euro range in a new research center at the Rheinfelden site. Starting at the beginning of 2016, research into silanes will be carried out in modern laboratories in the four-story building. Silanes are used in the electronics industry, in the tire industry, for the production of adhesives and sealants as well as plastics, and in the construction industry.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.7 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
MRC

MOSCOW (MRC) -- Eastman Chemical Company, a global specialty chemical company, is increasing prices on the following products from 1 September, or as contracts allow, reported the company on its site.

EASTMAN PROPIONIC ACID, all grades: offlist price increase of USD 0.06/lb (USD 0.13/kg) in North America and Latin America.

These increases are due to elevated operating costs, especially in raw materials.

As MRC wrote previously, earlier this year, Eastman Chemical Company enhanced its medical packaging portfolio with Eastalite copolyester, the company’s first opaque offering, which is styrene-free and can be a sustainable alternative to high-impact polystyrene (HIPS).

Eastman (headquartered in Kingsport, Tennessee, USA) is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables.
MRC

MOSCOW (MRC) -- There was a shortage in the Ukrainian film grade high density polyethylene (HDPE) market in the second half of August. At the same time, limited working capital of converters keeps prices down in the market, according to ICIS-MRC Price report.

Demand for polyethylene (PE), including film grade HDPE, subsided in the Ukrainian market in August. At the same time, there was a major shortage of supply in the second half of the month, despite weaker demand. Most converters experienced a serious lack of working capital because of a great devaluation of the national currency, which was one of factors that keep prices down.

Tight supply of film grade HDPE in the Ukrainian market was caused by reduced shipments from Europe and Russia. A trader said that it managed to contract European PE this month half as much as in July because of limited export quotas. Shipments from Russia were completely cancelled in August on the back of a shortage in the domestic market.

Tight supply of film grade HDPE is of a temporary nature. Sufficient PE quantities from the Middle East are expected to enter the market in the coming weeks. Some companies said they had fully switched over to purchasing PE in Saudi Arabia because of a shortage in Europe and Russia.

Deals for film grade HDPE remained unchanged in dollars this week and were done in the range of USD2,250-2,300/tonne FCA, including VAT (prices were calculated in the local currency at the interbank exchange rate at the time of payment).
MRC

MOSCOW (MRC) -- Mitsubishi Corp. (MC) and GAP Instaat Yatirim ve Dis Ticaret AS (GAP) have reached an agreement with the government of Turkmenistan for the construction of a large-scale fertilizer plant in Turkmenistan, as per Hydrocarbonprocessing.

The project will be undertaken in collaboration with Mitsubishi Heavy Industries (MHI) for Turkmen state-owned company, Turkmenhimiya.

The plant, to be constructed in Garabogaz, northwest of the country along the Caspian Sea, will be the largest urea fertilizer plant in the country, with contracts amounting to some USD1.3 billion.

The complex will consist of an ammonia plant with production capacity of 2,000 tpd and a urea plant with production capacity of 3,500 tpd, as well as other related infrastructure and delivery facilities.

Turkmenistan has had steady economic growth in recent years due to its natural gas reserves, the fourth largest in the world. The Turkmen government is also actively seeking to enhance the value added component of natural gas products as well as expanding and diversifying exports and sales in the sector.

The construction of this fertilizer plant is therefore consistent with that strategy, as it will enable the increase of fertilizer exports to countries around the world in response to growing agricultural food production, according to company officials.

As MRC informed before, preparations to start the construction of an industrial complex for polyethylene and polypropylene production in Turkmenistan's Kyyanly seaside settlement are underway. The news was announced by the Turkmen government on March 25. "This project is planned to be implemented with the participation of a Japanese consortium and a South Korean company," the Turkmen government said.
MRC