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This segment includes propylene oxide (PO) and derivatives and co-products derived from PO production, including oxyfuels (MTBE/ETBE), styrene monomer (SM) and isobutylenes.</p><p>The company did not disclose sales volumes for its PO business but did note difficult market conditions during the third quarter, as its PO and derivatives results decreased by $35mn from a year prior.</p><p>"Our propylene oxide and derivatives business encountered headwinds due to volatile prices for propylene feedstocks and volume impacts from Hurricane Beryl and planned maintenance," said executive vice president Kim Foley in an earnings call on Friday.</p><p>LydondellBasell's newest 470,000 metric tonnes (t)/yr PO and tertiary butyl alcohol (TBA) plant in Channelview, Texas, operated at nameplate capacity during the third quarter, the company said.</p><p>The company is continuing to target a 75pc operating rate in the fourth quarter for its intermediates and derivatives assets, as its Bayport, Texas, facility undergoes planned maintenance. </p><p>LyondellBasell expects softer seasonal demand in the fourth quarter, with second half results lower than the first half of the 2024. The potential for lower borrowing costs may drive recovery and PO demand from durable goods, the company said, but it does not expect markets to materially improve in the last part of the year.</p><p>The company's total operating income dropped by 23pc to $573mn in the third quarter from a year earlier.</p><p class="bylines">By Hadley Medlock</p></div><hr class="NewsPost_hr__LxnYG"/><div class="SocialShare_socialShare__FmN1Q component position-center white"><div class="component-content"><div class="container"><div class="SocialShare_list__jCvIb"><span class="SocialShare_label__3K9hV h6"></span><a class="qa-news-sociallinks" target="_blank" href="https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2624676-lyondell-reports-po-co-products-slowdown-in-3q"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/linkedin-share.svg?iar=0&rev=-1&hash=78C2D403849DC687A7B3E8D1983860F8" alt="" class="SocialShare_icon___21jS"/></a><a class="qa-news-sociallinks" target="_blank" href="https://twitter.com/intent/tweet?text=https%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2624676-lyondell-reports-po-co-products-slowdown-in-3q"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/twitter-share.svg?iar=0&rev=-1&hash=73AAC0A4A97740AC5B5785C5C30BDEB9" alt="" class="SocialShare_icon___21jS"/></a><a class="qa-news-sociallinks" target="_blank" href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2624676-lyondell-reports-po-co-products-slowdown-in-3q"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/facebook-share.svg?iar=0&rev=-1&hash=B8B3DF88F10174C3ACE79FE95F227A40" alt="" class="SocialShare_icon___21jS"/></a><a class="qa-news-sociallinks" href="mailto:?subject=This%20is%20my%20email%20subject.%20undefined&body=This%20is%20my%20email%20body.%0D%0ASecond%20line.%0Ahttps%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2624676-lyondell-reports-po-co-products-slowdown-in-3q"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/email-share.svg?iar=0&rev=-1&hash=D89B13A57B8926AA38521EE9797C5F83" alt="" class="SocialShare_icon___21jS"/></a></div></div></div></div></div></div></div></div></div><div class="component component-padding white "><div class="component-content"><div class="container"><div class="row"><div class="col-12 col-lg-7"><h2 class="qa-relatednews-title section-heading">Related news posts</h2><p class="qa-relatednews-description">Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.</p></div></div><div class="row"><div class="col-12 col-lg-6"><a class="qa-combinedfeed-primary-item News_link__TcfaC News_primary__Fop2j grey" href="/es/news-and-insights/latest-market-news/2632403-chancay-port-takes-center-stage-at-apla"><div class="News_primaryInner__9SOga"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5"></div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">25/11/24</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr h2 d-none d-lg-block">Chancay Port takes center stage at APLA</h3><h3 class="qa-combinedfeed-item-title News_headline__JsnZr d-lg-none">Chancay Port takes center stage at APLA</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Sao Paulo, 25 November (Argus) — The new $3bn Chancay Port in Peru could disrupt polymers trade throughout Latin America, according to conversations at the 44th Latin American Petrochemical Association (APLA) conference last week in Cartagena, Colombia. Located 80km north of Lima, the Chinese-built port promises to reduce shipping times for Chinese products to the region by up to 20 days, thanks to its direct route across the Pacific Ocean. Chinese President Xi Jinping inaugurated the port in Peru on 14 November. The port was a focal point of discussions among producers and traders in Latin America, but especially for those in the west coast of South America (WCSA), the first region to be possibly affected by Chancay's operations. A polypropylene (PP) producer in Colombia told Argus that the news is not good for them as it would be easy and fast to ship Chinese PP from Chancay to Buenaventura, Colombia's most important seaport on the Pacific Ocean. The company said it is trying to figure out how to deal with the expected increase in resin imports from China. Several other regional resin producers and traders are closely monitoring the situation, trying to strategise their next moves. In the US, the largest polyethylene (PE) exporter to South America, Chancay has already been causing concerns for local producers and traders selling into the region, one source told Argus . The combination of more Chinese PE arriving on South American shores and local governments placing anti-dumping duties on US-produced, as is foreseen in Brazil in the short-term, should lower US sales for the whole region, the source added. Asian resin is already gaining market share in Peru. Currently, the country is the second largest PP importer in South America by volume, and its imports had a significant increase this year even before Chancay's inauguration. PP imports climbed 32pc from January to October, with 90pc more purchases from Asia-Pacific, whose market share expanded from 41pc to 58pc year on year. South American purchases fell 7pc to 57,800t in the same period. Concerns were also raised about the Chancay port being used to distribute Chinese resins to other regional markets, including Brazil and Argentina, via smaller containerships being sent through the Panama Canal. Chancay set to change routes The first phase of the Chancay Port project, which began in 2021, features four berths and a maximum depth of 17.8 meters, allowing it to accommodate ultra-large container ships with capacities of up to 18,000 twenty-foot containers (TEUs). With a projected throughput capacity of 1mn TEUs annually in the short term and 1.5mn TEUs in the long term, Chancay Port is set to significantly impact maritime routes from Asia to Latin America. Over 80pc of the project is already completed, including the main quay structures finished earlier this year. Once fully operational with its 15 docks, Chancay will be South America's first port capable of handling ships too large for the Panama Canal. Additionally, China plans to build a railway linking Chancay with Brazil, its largest Latin American trade partner, later in the decade. The ownership of Peru's Chancay Port is split between two major entities. Cosco Shipping Ports, a Chinese state-owned company, holds a 60pc stake in the port. The remaining 40pc is owned by Volcan Mining Company, a Peruvian firm. This collaboration is part of China's expansive Belt and Road Initiative. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div><span class="qa-combinedfeed-item-cta cta d-none d-lg-inline-flex"></span></a></div><div class="col-12 col-lg-6"><div class="News_secondaryGroup__CVF5i"><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/es/news-and-insights/latest-market-news/2629783-neste-to-supply-renewable-chemical-feedstock-to-pcs"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5"></div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Neste to supply renewable chemical feedstock to PCS</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">18/11/24</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5"></div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">18/11/24</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Neste to supply renewable chemical feedstock to PCS</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">London, 18 November (Argus) — Finland's Neste will supply Singapore-based chemicals company PCS with renewable material feedstock for production of plastics. The Neste RE material will be supplied to PCS for use at a site on Jurong Island, Singapore. Neste RE is based on waste products including used cooking oil (UCO) or waste residues from vegetable oil processing. PCS produces ethylene, propylene and butadiene for consumers across Asia-Pacific. The first deliveries from PCS will include butadiene, the company said. Initial buyers include Mitsubishi, Toray Plastics in Malaysia and Synthomer. Neste previously said beverage maker Suntory will produce PET bottles derived from bio-paraxylene converted from bio-naphtha by the Finnish refiner. By George Barsted Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/es/news-and-insights/latest-market-news/2629731-hong-kong-unveils-green-maritime-fuel-action-plan"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5"></div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Hong Kong unveils green maritime fuel action plan</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">18/11/24</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5"></div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">18/11/24</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Hong Kong unveils green maritime fuel action plan</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Shanghai, 18 November (Argus) — The Hong Kong special administrative region government unveiled a green maritime fuel action plan on 15 November, aimed at making the region a top-tier centre for green fuel bunkering and reducing carbon emissions from the port of Hong Kong. According to the Action Plan on Green Maritime Fuel Bunkering, Hong Kong aims to curb carbon emissions in line with the International Maritime Organization (IMO), which targets 20% emissions reduction in international shipping by 2030 and a 70% reduction by 2040, compared with 2008 levels, before achieving net-zero emissions by or around 2050. The plan also targets to reduce carbon emissions from Hong Kong-registered ships by at least 11pc, compared with 2019 levels, and have 55pc of diesel-fuelled vessels in the government fleet switch to green maritime fuels by 2026. Hong Kong will target lower carbon emissions from the Kwai Tsing Container Terminals by 30pc, compared with 2021, and ensure that 7pc of its registered ships use green maritime fuels by 2030. Separately, the plan outlines that Hong Kong will have completed the development of the Code of Practice (CoP) on liquefied natural gas (LNG) and green methanol bunkering by 2025. The government will also invite industry expressions of interest by end-2025 for the conversion of a land parcel near the port in Tsing Yi South for green maritime fuel storage. Hong Kong is expected to achieve an annual sale of over 200,000t of green marine fuels by 2030, with over 60 LNG or green methanol bunkering services for ocean-going vessels a year, according to the plan. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/es/news-and-insights/latest-market-news/2629123-cop-korea-s-plagen-plans-azeri-green-methanol-plant"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5"></div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Cop: Korea’s Plagen plans Azeri green methanol plant</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">15/11/24</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5"></div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">15/11/24</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Cop: Korea’s Plagen plans Azeri green methanol plant</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Baku, 15 November (Argus) — South Korean clean energy firm Plagen has signed an initial agreement to develop a green methanol production plant near the port of Baku, Azerbaijan. Plagen expects that the plant, which it described as Azerbaijan's first green methanol facility, will produce 10,000 t/yr of the fuel by 2028. It will use Plagen's technology, the firm said at a side event at the UN Cop 29 climate summit today. The methanol will be produced from agricultural waste and wood waste, including hazelnuts shells and almond shells, which will be sourced from Azerbaijan, Plagen chief executive officer John Kyung said. The production process yields 96t of methanol from 300t of biomass. The produced methanol will be used as bunker fuel, and contribute Baku port's goal to reach "carbon neutrality" by 2035 amid increased traffic through the Trans-Caspian International Transport Route, as ships seek alternatives to the fraught Suez Canal route. Kyung said today that the firm also has plans to produce green methanol at Indonesia's Batam to supply as bunker fuel to Singapore, the biggest bunkering port in the world. Plagen also expects 32,000 t/yr of green methanol production by 2027 at a plant in Taebaek, South Korea. This is up from 10,000 t/yr as previously planned . By Tng Yong Li Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/es/news-and-insights/latest-market-news/2628945-brazil-starts-us-canada-pe-dumping-probe"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5"></div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Brazil starts US, Canada PE-dumping probe</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">14/11/24</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5"></div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">14/11/24</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Brazil starts US, Canada PE-dumping probe</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Sao Paulo, 14 November (Argus) — Brazil's government has started an anti-dumping investigation into polyethylene (PE) produced in the US and Canada. The country's foreign trade committee Gecex launched the investigation on 13 November following allegations from the sole Brazilian PE producer, major petrochemical company Braskem, that these countries are exporting PE to Brazil at prices below what is considered fair market value. Overall imported PE prices into Brazil have been in a downward trend since July, pushing down Braskem prices in the domestic market. Gecex said it will analyze export prices and compare them with those in the domestic markets of both countries. If dumping is confirmed, corrective measures may be applied to protect the Brazilian industry. A preliminary analysis has identified significant evidence of dumping, justifying the continuation of the investigation, Gecex said. It added that there was a considerable increase in PE imports from these countries — especially from the US — during the period being investigated, which may have contributed to the decline in domestic prices and harmed the domestic producer. The preliminary analysis of dumping evidence covered 1 April 2023 to 31 March 2024. The damage analysis period extended from 1 April 2019 to 31 March 2024. The anti-dumping investigation into PE imports from the US and Canada was preceded by an increase in import taxes on a number of polymers and chemicals to 20pc from 12.6pc, including PE, polypropylene (PP) and polyvinyl chloride (PVC), effective since 15 October. Repercussions An international trader specializing in polymer imports into Brazil told Argus that if anti-dumping duties are applied, his company's PE imports from the US to Brazil could drop by 20-30pc. "The decision has a 10-month deadline to be presented, but I believe it will be implemented and possibly announced earlier," he said, adding that this is another Braskem maneuver to regain its traditional 70pc market share in the Brazilian market. If confirmed, the measure is expected to have a significant impact on the Brazilian economy, especially on the plastic products manufacturing industry, as imports of finished plastic products could rise substantially, the trader said. One US-based trader selling US and Canada PE into Brazil sees the possible application of anti-dumping measures on the products as a structural development. "We will need to source PE in different production regions such as Asia and the Middle East, developing new ways of logistics, cash flows, ways of payment, to make it work flawlessly as it currently works with North American PE," the trader told Argus . "Prices should go up and we will increase our margins on PE sales." Brazil's January-September PE production increased by 1pc to 1.7mn t from the same period in 2023, while domestic sales fell bu 2pc to 1.24mn t. In contrast, PE imports jumped by 45pc to 1.54mn t, resulting in an apparent consumption of around 2.8mn t, up by 20pc higher year-on-year and a record high. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . 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This segment includes propylene oxide (PO) and derivatives and co-products derived from PO production, including oxyfuels (MTBE/ETBE), styrene monomer (SM) and isobutylenes.\u003c/p\u003e\u003cp\u003eThe company did not disclose sales volumes for its PO business but did note difficult market conditions during the third quarter, as its PO and derivatives results decreased by $35mn from a year prior.\u003c/p\u003e\u003cp\u003e\"Our propylene oxide and derivatives business encountered headwinds due to volatile prices for propylene feedstocks and volume impacts from Hurricane Beryl and planned maintenance,\" said executive vice president Kim Foley in an earnings call on Friday.\u003c/p\u003e\u003cp\u003eLydondellBasell's newest 470,000 metric tonnes (t)/yr PO and tertiary butyl alcohol (TBA) plant in Channelview, Texas, operated at nameplate capacity during the third quarter, the company said.\u003c/p\u003e\u003cp\u003eThe company is continuing to target a 75pc operating rate in the fourth quarter for its intermediates and derivatives assets, as its Bayport, Texas, facility undergoes planned maintenance. \u003c/p\u003e\u003cp\u003eLyondellBasell expects softer seasonal demand in the fourth quarter, with second half results lower than the first half of the 2024. The potential for lower borrowing costs may drive recovery and PO demand from durable goods, the company said, but it does not expect markets to materially improve in the last part of the year.\u003c/p\u003e\u003cp\u003eThe company's total operating income dropped by 23pc to $573mn in the third quarter from a year earlier.\u003c/p\u003e\u003cp class=\"bylines\"\u003eBy Hadley Medlock\u003c/p\u003e","lead":"LyondellBasell reported a slowdown in its propylene oxide (PO) and co-products sales in the third quarter, on modest demand and lower derivatives and export margins.","sectors":[{"name":"Petrochemicals","children":[{"name":"Propylene oxide","children":[]}]}],"keywords":null},"d2f9e211-6f8d-4a56-8e64-73fe29b63631":{"data":{"totalHitCount":3126,"hitCount":6,"items":[{"type":"Analysis","datePublished":"2024-11-25T21:31:37Z","headline":"Chancay Port takes center stage at APLA","summary":"Sao Paulo, 25 November (Argus) — The new $3bn Chancay Port in Peru could disrupt polymers trade throughout Latin America, according to conversations at the 44th Latin American Petrochemical Association (APLA) conference last week in Cartagena, Colombia. Located 80km north of Lima, the Chinese-built port promises to reduce shipping times for Chinese products to the region by up to 20 days, thanks to its direct route across the Pacific Ocean. Chinese President Xi Jinping inaugurated the port in Peru on 14 November. The port was a focal point of discussions among producers and traders in Latin America, but especially for those in the west coast of South America (WCSA), the first region to be possibly affected by Chancay's operations. A polypropylene (PP) producer in Colombia told Argus that the news is not good for them as it would be easy and fast to ship Chinese PP from Chancay to Buenaventura, Colombia's most important seaport on the Pacific Ocean. The company said it is trying to figure out how to deal with the expected increase in resin imports from China. Several other regional resin producers and traders are closely monitoring the situation, trying to strategise their next moves. In the US, the largest polyethylene (PE) exporter to South America, Chancay has already been causing concerns for local producers and traders selling into the region, one source told Argus . The combination of more Chinese PE arriving on South American shores and local governments placing anti-dumping duties on US-produced, as is foreseen in Brazil in the short-term, should lower US sales for the whole region, the source added. Asian resin is already gaining market share in Peru. Currently, the country is the second largest PP importer in South America by volume, and its imports had a significant increase this year even before Chancay's inauguration. PP imports climbed 32pc from January to October, with 90pc more purchases from Asia-Pacific, whose market share expanded from 41pc to 58pc year on year. South American purchases fell 7pc to 57,800t in the same period. Concerns were also raised about the Chancay port being used to distribute Chinese resins to other regional markets, including Brazil and Argentina, via smaller containerships being sent through the Panama Canal. Chancay set to change routes The first phase of the Chancay Port project, which began in 2021, features four berths and a maximum depth of 17.8 meters, allowing it to accommodate ultra-large container ships with capacities of up to 18,000 twenty-foot containers (TEUs). With a projected throughput capacity of 1mn TEUs annually in the short term and 1.5mn TEUs in the long term, Chancay Port is set to significantly impact maritime routes from Asia to Latin America. Over 80pc of the project is already completed, including the main quay structures finished earlier this year. Once fully operational with its 15 docks, Chancay will be South America's first port capable of handling ships too large for the Panama Canal. Additionally, China plans to build a railway linking Chancay with Brazil, its largest Latin American trade partner, later in the decade. The ownership of Peru's Chancay Port is split between two major entities. Cosco Shipping Ports, a Chinese state-owned company, holds a 60pc stake in the port. The remaining 40pc is owned by Volcan Mining Company, a Peruvian firm. This collaboration is part of China's expansive Belt and Road Initiative. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2632403"}],"tags":null,"taxonomy":null,"id":2632403,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-11-18T12:37:59Z","headline":"Neste to supply renewable chemical feedstock to PCS","summary":"London, 18 November (Argus) — Finland's Neste will supply Singapore-based chemicals company PCS with renewable material feedstock for production of plastics. The Neste RE material will be supplied to PCS for use at a site on Jurong Island, Singapore. Neste RE is based on waste products including used cooking oil (UCO) or waste residues from vegetable oil processing. PCS produces ethylene, propylene and butadiene for consumers across Asia-Pacific. The first deliveries from PCS will include butadiene, the company said. Initial buyers include Mitsubishi, Toray Plastics in Malaysia and Synthomer. Neste previously said beverage maker Suntory will produce PET bottles derived from bio-paraxylene converted from bio-naphtha by the Finnish refiner. By George Barsted Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2629783"}],"tags":null,"taxonomy":null,"id":2629783,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-11-18T10:34:47Z","headline":"Hong Kong unveils green maritime fuel action plan","summary":"Shanghai, 18 November (Argus) — The Hong Kong special administrative region government unveiled a green maritime fuel action plan on 15 November, aimed at making the region a top-tier centre for green fuel bunkering and reducing carbon emissions from the port of Hong Kong. According to the Action Plan on Green Maritime Fuel Bunkering, Hong Kong aims to curb carbon emissions in line with the International Maritime Organization (IMO), which targets 20% emissions reduction in international shipping by 2030 and a 70% reduction by 2040, compared with 2008 levels, before achieving net-zero emissions by or around 2050. The plan also targets to reduce carbon emissions from Hong Kong-registered ships by at least 11pc, compared with 2019 levels, and have 55pc of diesel-fuelled vessels in the government fleet switch to green maritime fuels by 2026. Hong Kong will target lower carbon emissions from the Kwai Tsing Container Terminals by 30pc, compared with 2021, and ensure that 7pc of its registered ships use green maritime fuels by 2030. Separately, the plan outlines that Hong Kong will have completed the development of the Code of Practice (CoP) on liquefied natural gas (LNG) and green methanol bunkering by 2025. The government will also invite industry expressions of interest by end-2025 for the conversion of a land parcel near the port in Tsing Yi South for green maritime fuel storage. Hong Kong is expected to achieve an annual sale of over 200,000t of green marine fuels by 2030, with over 60 LNG or green methanol bunkering services for ocean-going vessels a year, according to the plan. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2629731"}],"tags":null,"taxonomy":null,"id":2629731,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-11-15T09:15:48Z","headline":"Cop: Korea’s Plagen plans Azeri green methanol plant","summary":"Baku, 15 November (Argus) — South Korean clean energy firm Plagen has signed an initial agreement to develop a green methanol production plant near the port of Baku, Azerbaijan. Plagen expects that the plant, which it described as Azerbaijan's first green methanol facility, will produce 10,000 t/yr of the fuel by 2028. It will use Plagen's technology, the firm said at a side event at the UN Cop 29 climate summit today. The methanol will be produced from agricultural waste and wood waste, including hazelnuts shells and almond shells, which will be sourced from Azerbaijan, Plagen chief executive officer John Kyung said. The production process yields 96t of methanol from 300t of biomass. The produced methanol will be used as bunker fuel, and contribute Baku port's goal to reach \"carbon neutrality\" by 2035 amid increased traffic through the Trans-Caspian International Transport Route, as ships seek alternatives to the fraught Suez Canal route. Kyung said today that the firm also has plans to produce green methanol at Indonesia's Batam to supply as bunker fuel to Singapore, the biggest bunkering port in the world. Plagen also expects 32,000 t/yr of green methanol production by 2027 at a plant in Taebaek, South Korea. This is up from 10,000 t/yr as previously planned . By Tng Yong Li Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2629123"}],"tags":null,"taxonomy":null,"id":2629123,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-11-14T20:33:51Z","headline":"Brazil starts US, Canada PE-dumping probe","summary":"Sao Paulo, 14 November (Argus) — Brazil's government has started an anti-dumping investigation into polyethylene (PE) produced in the US and Canada. The country's foreign trade committee Gecex launched the investigation on 13 November following allegations from the sole Brazilian PE producer, major petrochemical company Braskem, that these countries are exporting PE to Brazil at prices below what is considered fair market value. Overall imported PE prices into Brazil have been in a downward trend since July, pushing down Braskem prices in the domestic market. Gecex said it will analyze export prices and compare them with those in the domestic markets of both countries. If dumping is confirmed, corrective measures may be applied to protect the Brazilian industry. A preliminary analysis has identified significant evidence of dumping, justifying the continuation of the investigation, Gecex said. It added that there was a considerable increase in PE imports from these countries — especially from the US — during the period being investigated, which may have contributed to the decline in domestic prices and harmed the domestic producer. The preliminary analysis of dumping evidence covered 1 April 2023 to 31 March 2024. The damage analysis period extended from 1 April 2019 to 31 March 2024. The anti-dumping investigation into PE imports from the US and Canada was preceded by an increase in import taxes on a number of polymers and chemicals to 20pc from 12.6pc, including PE, polypropylene (PP) and polyvinyl chloride (PVC), effective since 15 October. Repercussions An international trader specializing in polymer imports into Brazil told Argus that if anti-dumping duties are applied, his company's PE imports from the US to Brazil could drop by 20-30pc. \"The decision has a 10-month deadline to be presented, but I believe it will be implemented and possibly announced earlier,\" he said, adding that this is another Braskem maneuver to regain its traditional 70pc market share in the Brazilian market. If confirmed, the measure is expected to have a significant impact on the Brazilian economy, especially on the plastic products manufacturing industry, as imports of finished plastic products could rise substantially, the trader said. One US-based trader selling US and Canada PE into Brazil sees the possible application of anti-dumping measures on the products as a structural development. \"We will need to source PE in different production regions such as Asia and the Middle East, developing new ways of logistics, cash flows, ways of payment, to make it work flawlessly as it currently works with North American PE,\" the trader told Argus . \"Prices should go up and we will increase our margins on PE sales.\" Brazil's January-September PE production increased by 1pc to 1.7mn t from the same period in 2023, while domestic sales fell bu 2pc to 1.24mn t. In contrast, PE imports jumped by 45pc to 1.54mn t, resulting in an apparent consumption of around 2.8mn t, up by 20pc higher year-on-year and a record high. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2628945"}],"tags":null,"taxonomy":null,"id":2628945,"language":"en-GB","body":null}],"itemsCursor":null}}}},"__N_SSG":true},"page":"/[[...path]]","query":{"path":["news-and-insights","latest-market-news","2624676-lyondell-reports-po-co-products-slowdown-in-3q"]},"buildId":"61995","assetPrefix":"https://www.argusmedia.com","isFallback":false,"isExperimentalCompile":false,"gsp":true,"locale":"es","locales":["default","en","es","zh","ru","pt","ja","fr","de"],"defaultLocale":"default","scriptLoader":[]}</script></body></html>