Chemical shipments fall 8.9% at Port of Antwerp in 2020

MOSCOW (MRC) -- Shipments of chemicals through the port of Antwerp, Belgium, declined 8.9% in 2020 compared to 2019, although no full-year chemical volumes total has been made available, said Chemweek.

Annual liquid bulk volumes declined by 4.2% in total year on year (YOY) to 69 million metric tons (MMt) in 2020, with crude oil shipments plummeting 60% YOY due to reduced refining activities, says Port of Antwerp. Throughput of oil derivatives, however, recovered with growth of 3.4% despite an initial fall in demand due to the coronavirus pandemic and the sharp drop in oil prices, it says. Fertilizer shipments also declined YOY, but no specific volume figure was given.

The port’s overall throughput last year totaled 230.8 MMt of cargo, a fall of 3.1% compared with 2019, with the relatively small decline due largely to “buoyant container throughput rates,” which set a new record, it says. Container throughput surpassed the 12 million twenty-foot equivalent units (TEUs) mark for the first time ever in 2020, totaling 139 MMt, equating to growth of 1.3% compared with 2019, it says.

"We were caught up in a storm in 2020, but we stayed upright. The port has even set another record in container throughput. This enabled us to limit the damage due to losses in other segments and to present better figures than other ports,” says Jacques Vandermeiren, Port of Antwerp’s CEO. Vandermeiren remains “convinced” that the ports ongoing projects, such as its carbon dioxide (CO2) reduction project Antwerp, a recently formed hydrogen coalition, and the development of the new NextGen District will be “major game changers within the next 10 years."

We remind that Russia's output of chemical products rose in November 2020 by 9.5% year on year. At the same time, production of basic chemicals increased in the first eleven months of 2020 by 6.6% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-November 2020 output. November production of polymers in primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall output of polymers in primary form totalled 9,240,000 tonnes over the stated period, up by 17.1% year on year.
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MOSCOW (MRC) -- Axalta has issued USD700 million in senior bonds due 2029 to institutional buyers in a bid refinance debt, according to Chemweek.

The bonds will carry an interest rate of 3.375%, and the offering was upsized from an initial announcement of USD600 million.

Proceeds from the new bonds will refinance two tranches of senior bonds, both due 2024. One USD500 million tranche carries an interest rate of 4.875%, and the other EUR335 million (USD397 million) tranche carries an interest rate of 4.250%. The new bond offering closed on 24 November, 2020.

As MRC reported before, in early November, 2020, Axalta said that it will realign its business structure to fold most organizational functions into its two global business units, transportation coatings and performance coatings.

The plan follows earlier restructuring moves announced over last summer, and will involve the closure of Axalta’s offices in Center City, Philadelphia. Employees at those offices will be transferred to Glen Mills, Pennsylvania, a Philadelphia suburb that will become the site of Axalta’s headquarters, or to an office at the Philadelphia Navy Yard. Axalta’s regional headquarters at Basel, Switzerland and Shanghai, China will remain open and regional leaders will continue to play an important role in the organization, the company says. The reorganization became effective 1 January 2021, and the office closures and shifts in the Philadelphia area will occur in the middle of this year.

We remind that Russia's output of chemical products rose in November 2020 by 9.5% year on year. At the same time, production of basic chemicals increased in the first eleven months of 2020 by 6.6% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-November 2020 output. November production of polymers in primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall output of polymers in primary form totalled 9,240,000 tonnes over the stated period, up by 17.1% year on year.
MRC

MOSCOW (MRC) -- Specialty packaging thermoformer Lacerta Group Inc. has been acquired by New York City-based private investment firm SK Capital LP for an undisclosed amount, said Canplastics.

Founded in 1993 and headquartered in Mansfield, Mass., Lacerta makes packaging primarily for the food sector. The company offers a range of custom PET packaging products, including a line of tamper-evident products sold under the “Fresh N’ Sealed” brand.

The company has also developed a face shield made from PET resin for use by healthcare and retail workers. Lacerta’s co-founders, Ali and Mory Lotfi, will remain with the company and retain a significant ownership stake, SK Capital said in a Jan. 11 news release.

Lacerta has experienced top-line growth of 25% annually since 2013, the news release added.

"Ali, Mory and the Lacerta team have built an exceptional business with a best-in-class reputation for customer service, innovation and sustainable products,” said Jack Norris, managing director of SK Capital. “We look forward to partnering with Ali and Mory to support the continuation of Lacerta’s extraordinary growth. Our mutual focus is on preserving Lacerta’s customer-centric approach, which is highly differentiated in the market, while at the same time putting in place the required systems, processes and capabilities that will enable the company to scale alongside its expanding customer base."

As per MRC, SK Capital Partners completed the acquisition of a 39.75% stake, roughly 42.4 million shares, in titanium dioxide maker Venator from Huntsman for roughly USD100 million. The deal includes a 30-month option for the purchase of Huntsman’s remaining approximate 9.5 million shares by SK at US2.15/share. Huntsman spun off Venator in a 2017 initial public offering.

As MRC reported earlier, Nanjing Jinling Huntsman, a joint venture between Huntsman and Sinopec Jinling, planned to shut its propylene oxide plant in Nanjing (Nanjing, Jiangsu Province, China) on November 1 for scheduled maintenance. This plant with a capacity of 240,000 tonnes/year of propylene oxide will be closed until approximately 25 November.

Propylene is the main feedstock for the production of polypropylene (PP).

According to MRC's DataScope report, PP imports into Russia increased by 21% year on year to about 202,000 tonnes in the first eleven months of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.
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MOSCOW (MRC) -- Azelis says it has signed an exclusive distribution deal for Mane’s (Le Bar sur Loup, France) flavor and fragrance products in the Benelux region, including Belgium, the Netherlands, and Luxembourg, reported Chemweek.

The deal is effective from January 2021.

“This new partnership will enable MANE to extend its presence to nearly full market coverage as well as seeing a number of its existing customers being serviced more efficiently by the dedicated Azelis teams,” says Renaud Milliard, flavor distribution director/EMEA at Mane.

Mane is family owned maker of flavor and fragrance products. The company has about 6,000 employees globally.

As MRC informed earlier, in October 2020, Azelis opened a new application and training center in Istanbul, Turkey. This center will service the Turkish food, personal care and pharma markets and will offer product advice, formulation development and technical research. Next to that, it will host customer meetings, interactive formulation workshops, supplier meetings and internal technical trainings.

We remind that Russia's output of chemical products rose in November 2020 by 9.5% year on year. At the same time, production of basic chemicals increased in the first eleven months of 2020 by 6.6% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-November 2020 output. November production of polymers in primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall output of polymers in primary form totalled 9,240,000 tonnes over the stated period, up by 17.1% year on year.
MRC

MOSCOW (MRC) -- Equate’s Equipolymers (EQP) subsidiary has launched Viridis 30, a food-grade polyethylene terephthalate (PET) manufactured with 30% chemically recycled PET as feedstock, accoridng to GV.

The Viridis grade was started in 2009, with the support of the Coca-Cola Co., when EQP launched Viridis 10, made with 10 % chemically recycled PET. Last January, it produced its first successful batch of Viridis 25, which uses up to 25% chemically recycled PET. Viridis 30 is expected to be commercially available to the European market from the first quarter of 2021.

“Viridis 30 is a significant achievement for EQP and for the petrochemical industry,” said Muayad Al Faresi, global business director for PET at EQP. “As global demand increases, the transformation of our industry is necessary to create new products that are more sustainable in the long term. The development of Viridis 30 is aligned with the EU’s (European Union) target to achieve 25 % rPET (recycled PET) in packaging by 2025, and 30 % by 2030. It highlights our commitment towards innovation – this is a breakthrough that will have far reaching environmental, social and business benefits.”

According to MRC's ScanPlast report, Russia's estimated PET consumption reached 61,110 tonnes in November 2020, up by 1% year on year. Overall consumption of PET in Russia reached 648,110 tonnes in the first eleven months of 2020, down by 18% year on year.

Equipolymers is a company dedicated to the manufacture and marketing of PET resins. The company is a fully owned subsidiary of MEGlobal.
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