1/30/2024 0 Comments Hexio level 48![]() 22.ĪRA INVENTORIES - Gasoil stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub dropped 4.8% to 2.4 million tonnes in the week to March 11, data from Dutch consultancy Insights Global showed. We cannot just grab our bags and fly anywhere we want, without having to worry if the place is safe enough." The regional jet fuel market, however, is getting some support as supplies are currently limited with refineries in South Korea not running high and some refineries in Japan scheduled to undergo spring maintenance, traders said.Ĭash discounts for jet fuel widened by 10 cents on Friday to 80 cents per barrel to Singapore quotes, the biggest discounts since Oct. "Our lives, be it personal or for business are never going to be the same as before. Global vaccines rollouts definitely need more than six months," a Singapore-based trader said. "I think the aviation sector needs more time to achieve a sustainable or stable recovery. The aviation market is expected to gradually strengthen in coming months as countries lift border restrictions, but a majority of market watchers believe it would take years for the sector to reach pre-pandemic levels. Prolonged international travel restrictions and sluggish pace of vaccinations in several markets have impacted the aviation demand recovery, while the recent strength in feedstock crude prices have hurt the refining margins, trade sources said. ![]() The jet fuel cracks have dropped 13% this week, and remained nearly 70% lower than their five-year seasonal average for this time of the year, Refinitiv Eikon data showed. Refining profit margins, also known as cracks, for jet fuel were at USD3.53 per barrel over Dubai crude during Asian trading hours, 7 cents lower from Thursday. MOSCOW ( MRC) - Asian jet fuel refining margins dropped on Friday, posting their third consecutive weekly decline, weighed down by persistent weakness in aviation demand, reported Reuters. ![]() Hexion has two divisions: the epoxy, phenolic and coating resins division and the forest products division. It manufactures thermosetting resins and related technologies and specialty products. Hexion Inc., formerly Momentive Specialty Chemicals Inc., is a chemical company based in Columbus, Ohio. It is one of the key monomers in the production of epoxy resins and polycarbonate (PC).Īccording to MRC's ScanPlast, the estimated consumption of PC granulate in Russia (excluding imports and exports to Belarus) amounted to 89.3 thousand tons at the end of 2020, which is 14% higher than the volume in 2019 (78,500 tonnes). According to a letter from the company to customers on February 11, the company announced force majeure for the supply of BPA from a plant in Pernis with a capacity of 120 thousand tons per year due to unexpected equipment shutdowns due to cold weather.īisphenol A is used as a hardener in the manufacture of plastics and plastic-based products. Deal terms were not disclosed.Īs per MRC, Hexion, a major US manufacturer of phenol and bisphenol A (BPA), has resumed bisphenol A (BPA) production in Pernis, The Netherlands. Located in Jiangsu Province, wholly operated by Hexion since 2015, the sale is separate to that of the company’s global phenolic resins business, which has been acquired by Black Diamond and Investindustrial. The US-headquartered resins and coatings producer has sold the unit to local firm Red Avenue New Materials, according to BDA Partners, which advised on the deal. The facility was constructed in line with Hexion’s global standards, enjoys convenient access to suppliers and customers, and is well regarded in the region for its unmatched product quality and high EHS standards. The China phenolic resins plant was built in Zhenjiang, Jiangsu Province, as a greenfield project, which was started in 2012 and completed in 2016. The PSR business is an established technology leader with a long track record for quality and reliability. Hexion’s China phenolic resins plant was part of Hexion’s global Phenolic Resins (PSR) division, which has separately been acquired by Black Diamond and Investindustrial. (Red Avenue), a publicly listed Chinese company providing diversified new materials for electronics, environmental protection, tire, and auto markets, said Chemengonline. MOSCOW ( MRC) - BDA Partners is pleased to announce that its client, Hexion Inc., has sold its China phenolic resins plant to Red Avenue New Materials Group Co.
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