DSM, CVC to sell Fibran JV to Highsun – Dutch chemicals and life sciences company DSM is taking steps toward shedding its caprolactam business entirely – DSM CVC Fibran Highsun caprolactam

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DSM, CVC to sell Fibran JV to Highsun

DSM CVC Fibran Highsun caprolactam

DSM to sell Fibran JV to Highsun

Dutch chemicals and life sciences company DSM is taking steps toward shedding its caprolactam business entirely. Late last week, the Sittard-based company announced plans to sell all of the Fibrant joint venture owned by ChemicaInvest, its 35:65 joint venture with private equity investor CVC Capital Partners, to China’s Highsun Holdings Group.

DSM estimates that it will receive about €200 million in cash from the transaction due to be completed in this year’s third quarter following regulatory approvals and consultation with the Dutch workforce.

The sale is to include all shares in Fibrant BV, which operates the caprolactam plant in Geleen, the Netherlands, and 60% of the shares in Fibrant Co. Ltd., operator of the caprolactam plant in Nanjing, China.  Fibrant BV’s minority interest in Geleen-based Sitech, a technical service provider, is also to be included, but not Fibrant LLC (USA).

All employees of the affected businesses will transfer to the new Chinese owner, and current management also will stay in place.

Under the terms, Highsun Holdings will assume the drawing rights and supply contracts of Fibrant, and Fibrant will continue to provide at least 80% of the caprolactam feedstock needs of its subsidiary DSM Engineering Plastics (DSMEP) in Europe and North America until 2030.

This supply contract, DSM said, will preserve the plastics producer’s backward integration and allow it to maintain its strategic and competitive position. Among other things, DSMEP has PA 6 in its portfolio.

Highsun’s operating company produces super absorbers for diapers and disposable plastic bags.

Following the sale, DSM and CVC Capital Partners will still own 35% and 65% respectively of ChemicaInvest’s two remaining business units, Aliancys (composite resins) and AnQore (acrylonitrile). The two subsidiaries together generated almost €700 million in revenue in 2017 and had an EBITDA margin of about 12% in 2017. DSM did not reveal figures for the caprolactam business.

Fibrant was spun off from DSM in early 2016

Becoming part of a large and integrated international player such as Highsun “will allow the company to remain successful in the long term,” said Fibrant’s CEO, Pol Deturck.

Highsun, group chairman Chen Jianlong said that through the acquisition his company will “realise a new step in our ambition to become a leading player in the nylon 6 value chain.” The Chinese company’s portfolio also includes super absorbers for diapers as well as disposable plastic bags.

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-Bio-capro, infinite recycling can secure nylon’s future in the circular economy – Aquafil CEO – Moving towards a circular economy for nylon is a matter of when, not if, according to the CEO at one of Europe’s largest manufacturers of nylon textile filaments, Italy’s Aquafil – Biocaprolactam recycling nylon future circular economy Aquafil

-A Bio-Based Caprolactam Joint-Development Project is now underway – Last month, Genomatica and Aquafil announced a partnership to commercialize a Genomatica process for making caprolactam derived from renewable feedstocks, rather than from petroleum – BioBased Caprolactam Project

– Bio-capro, infinite recycling can secure nylon’s future in the circular economy – Aquafil CEO – Biocapro infinite recycling nylon future circular economy Aquafil

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Tomra Sorting Recycling Reports Increased Interest In Sorting Technologies At Ifat 2018 – TOMRA Sorting Recycling experienced high levels of interest in its sensor-based sorting technologies at IFAT 2018, the world’s leading trade fair for environmental technologies – Tomra Sorting Recycling Sorting Technologies Ifat 2018

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Tomra Sorting Recycling Reports Increased Interest In Sorting Technologies At Ifat 2018

Tomra Sorting Recycling Sorting Technologies Ifat 2018

Tougher new regulations and consumer concerns are reflected in enquiries received at the leading trade fair for environmental technologies

TOMRA Sorting Recycling experienced high levels of interest in its sensor-based sorting technologies at IFAT 2018, the world’s leading trade fair for environmental technologies, which concluded on 18 May.

The five-day event at Messe Munchen, Germany, which is known for attracting more than 130,000 people from almost 200 countries, was again very busy. Many visited TOMRA’s exhibition stand to learn about the company’s latest sorting solutions, showcased on the ‘Metal Recycling’ and ‘Waste’ sections of the stand, and to hear about TOMRA’s expectations for future innovations, spotlighted on the ‘Circular Economy’ and ‘Future’ areas of the stand.

Tom Eng, Senior Vice President and Head of TOMRA Sorting Recycling, commented: “The huge number of industry professionals attending IFAT 2018, and the high quality of enquiries received by TOMRA, show how demand is growing for sorting solutions. This is partly due to tougher new regulations, such as China’s National Sword policy, but also reflects the increasing environmental awareness of consumers.

“More countries around the world are calling-out for effective sorting and recycling technologies, and there’s real interest in future progress through innovation. TOMRA believes the most significant near-future advancements will be in the increased sophistication of artificial intelligence, which is already integrated in TOMRA’s machines to a greater extent than in any other manufacturer’s.”

TOMRA’s pillars of innovation

TOMRA’s entire way of thinking is motivated by various aspects of innovation – not only in the machines TOMRA develops and manufactures, but also in the company’s vision for our planet’s more sustainable future.

Innovative technology continues to be the central focus for TOMRA Recycling. A recent example of this is TOMRA’s new Laser Object Detection (LOD) system, capable of detecting material that near infrared technology (NIR) cannot. This enables waste and scrap recycling operations to reach previously unattainable final-product purity levels – an even more desirable advantage now that China has introduced its tough National Sword policy, which bans the importation of 24 types of solid waste, including various plastics and unsorted mixed papers. Another recent example of TOMRA’s innovative technology is AUTOSORT BLACK, the first machine to recover valuable black polymers from packaging materials.

Another pillar of innovation is in revolutionary developments in a broad range of applications. A good example is how TOMRA Sorting Solutions has enhanced AUTOSORT so that it is now possible to separate single-layer PET trays from PET bottles. This new application enhances AUTOSORT’s previous capability to separate multi-layer trays.

By continuing to focus on the future of innovation, TOMRA has taken great strides in further enhancing its digital approach to supporting customers. To demonstrate this, the ‘Future’-themed consulting station on TOMRA’s IFAT stand enabled visitors to interact with live data using TOMRA Insight. This sophisticated software and telematics system provides customers with remote, real-time information about the management and performance of their recycling machines.

The circular economy continues to drive TOMRA’s commitment to a sustainable future. As an illustration of this, in 2017 TOMRA signed-up to the New Plastics Economy, a three-year initiative led by the Ellen MacArthur Foundation. This brings together businesses, governments, scientists and citizens to accelerate the transition towards a global plastics system guided by the principles of the circular economy.

EDITED BY: Creamer Media Reporter

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Asia petrochemicals outlook, w/c May 21 – Asian aromatics were a mixed bag last week, as methanol and butadiene prices were bolstered by tight supply while paraxylene, ethylene and propylene price movements were capped by healthy supplies – Asia petrochemicals outlook Aromatics Olefins

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Asia petrochemicals outlook, w/c May 21

Singapore (Platts)

 Asia petrochemicals outlook Aromatics Olefins Asian aromatics were a mixed bag last week, as methanol and butadiene prices were bolstered by tight supply while paraxylene, ethylene and propylene price movements were capped by healthy supplies. Upstream, feedstock naphtha costs rose $18.125/mt CFR Japan, over the week to $694.375/mt. This week, supply conditions will continue to dictate price movements.

AROMATICS

Asian paraxylene prices ended the week lower as supply for H2 June cargoes were “quite long” amid turnarounds in the downstream PTA market. Due to better netbacks on spot cargoes for June, end-users were also heard to have lowered operating rates and offered their term PX cargoes directly or indirectly to the spot market, which offset the tightness caused by the delay in Middle Eastern arrivals. Ample supplies are likely to continue to underpin trade activity this week, limiting any possibility of a significant price uptick.

Asian benzene prices rose last week, buoyed by persistent H2 June demand for both FOB Korea and CFR China cargo. Bullish sentiment should remain this week as market participants said demand was picking up due to the restart of downstream plants after the completion of scheduled maintenance. In addition, interest for June-loading cargoes was supportive of prices especially with the Asia-US arbitrage window open. The open arbitrage window, together with low imports, firm toluene prices and recent gains in crude oil prices could lift US benzene prices this week.

OLEFINS

Asian Ethylene prices were stable last week and will possibly remain so this week as some reluctance to trade on a fixed price basis emerged given the uncertain demand-supply conditions in the near term. Supplies were heard to be sufficient although the price spread between Europe and Asia was narrowing, standing at less than $80/mt, and the arbitrage window seen closing. On the demand side, demand was healthy as margins for downstream derivatives remained firm.

Asian Propylene prices are also likely to remain rangebound this week, after rising slightly last week, from stronger demand in the China market. This week, however, participants expect spot supply to increase after South Korean producers SK Advance’s 600,000 mt/year capacity propylene dehydration plant (PDH) and Hyosung’s 500,000 mt/year capacity PDH plant both restarted last week. Consequently, this will cap price increases going forward.

Asian Butadiene prices rose last week on the back of tight supply, and will continue to be supported this week as availability is thin. This is especially so in Japan, where a cargo shortfall had allowed a temporary arbitrage for cheaper Chinese cargoes to Japan.

METHANOL, MTBE

Asian Methanol prices may continue to see support in the near term amid low domestic China port inventories as a result of lower inland Chinese cargoes arriving at the coast, and decreasing imports from the Middle East. However, as Middle East plants return from maintenance and begin ramping up production, supply to China is expected to ease.

Asian MTBE prices soared last week on the back of the higher energy complex and gasoline prices, and will continue to take their cue from the energy complex this week too. Fundamentally, supply is heard to be ample for June cargoes, thereby putting a cap on tradeable premiums to the FOB Singapore marker.

–Desiree Quah, desiree.quah@spglobal.com

–Edited by Norazlina Juma’at, norazlina.jumaat@spglobal.com

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-Asia petrochemicals outlook, w/c May 14 -Asian petrochemical prices are seen likely to continue to trend higher this week amid support from bullish crude futures – Asia petrochemicals outlook

-Asia petrochemicals outlook, w/c May 7 – Petrochemical market participants will be keeping a close eye on developments upstream this week, particularly the fate of the US-Iran nuclear agreement and its impact on crude oil, which in turn will influence aromatics and MTBE markets – Asia petrochemicals outlook

-EMEA petrochemicals outlook, w/c Apr 23 – The European ethylene market looks stable as the recent length has cleared following a spate of exports to Asia – EMEA petrochemicals outlook

-Americas petrochemicals outlook: w/c Apr 16 – Spot ethylene has been on the rise, 0.50 cent/lb higher than the record lows seen April 9 after prompt-month was heard offered at 14 cents/lb MtB Nova – Americas petrochemicals outlook

-Motiva considers ethylene, aromatics projects in US – Motiva Enterprises signed $8bn-10bn worth of memoranda of understanding (MoUs) covering process technologies for possible ethylene and aromatics units in the US – Motiva ethylene aromatics projects USA

-US spot ethylene falls to 16-year low amid tariff concerns – US spot ethylene traded at a 16-year low on Friday amid long supply and concerns about proposed Chinese tariffs on chemicals – USA spot ethylene chemicals

-The initial price for MEG in Europe for April deliveries fell by EUR20 per tonne – The initial contract price of monoethylene glycol (MEG) in Europe for April deliveries was agreed at the level of EUR965 per tonne, which is EUR20 per ton lower than the March contract prices – Price MEG Europe April

-China’s MEG up in anticipations of better supply-demand for Q2 – China’s MEG market has remained rangebound for around two weeks, and domestic spot prices shivered around 7,000yuan/mt – China MEG prices market

-Prices MEG in the US may fall in April  – It is expected that prices of monoethylene glycol (MEG) in the US will decline in April due to a weakening of demand between peak seasons – Prices MEG USA April 

-AFPM ’18: EQUATE’s US MEG plant begins construction phase – CEO – AFPM 2018 EQUATE USA MEG

-Sabic reduced the April price of MEG by USD55 per tonne – Sabic, the largest Saudi petrochemical company, has lowered the contract price of monoethylene glycol (MEG) to supply material to the Asian market in April at USD55 per tonne compared to the March price level – Sabic April price MEG

-MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne – MEGlobal April contract price MEG Asia4

-China polyester to drive MEG, but oversupply fears – China polyester MEG oversupply – Robust demand from polyester production in China is expected to drive the Asian monoethylene glycol (MEG) market in the first half of 2018

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Additives: New Color Effects for PET Packaging – Penn Color has developed some unique color packages in collaboration with Husky and PET Engineering – Unusual color effects for PET packaging have been developed by Penn Color, Doylestown, Penn., the newest additions to the company’s Penneffex portfolio of colors and effects – Additives Color Effects PET Packaging

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Additives: New Color Effects for PET Packaging

Penn Color has developed some unique color packages in collaboration with Husky and PET Engineering.

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Unusual color effects for PET packaging have been developed by Penn Color, Doylestown, Penn., the newest additions to the company’s Penneffex portfolio of colors and effects. Key among them are bicolor, thermocromic and phosphorescent PET bottles for the beverage market.

Developed in collaboration with Husky Injection Molding Systems and designed and engineered by PET Engineering, these unique packages use proprietary pigment compounds developed by the Penneffex team, introduced in a multi-layer structure.

According to marketing manager Phil Riccardi, the company developed a proprietary pigment masterbatch that will not cause delamination when using thermocromic or fluorescents in the middle layer.

New glow-in-the-dark special effect masterbatches used in the middle layer and new brushed-metal special effects used in the outer layer were also displayed.

According to Riccardi, the company’s focus in on developing new bottle concepts and will soon expand to formulations for HDPE bottles, with the installation of a new three-layer HDPE blow molding line at new R&D center now underway.

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R&D / Leverage install LPD Dryers from Maguire – R&D / Leverage, a specialist in tooling for injection stretch blow moulding of PET bottles, has replaced desiccant dryers on seven Nissei ASB and Aoki injection stretch blow moulding lines with LPD vacuum dryers from Maguire Products – R&D Leverage LPD Dryers Maguire

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R&D / Leverage install LPD Dryers from Maguire

by Grace Nolan

by Grace Nolan

Relateed Topics

Maguire – The Maguire VBD-300

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European expectations for US PE imports loom large but no prompt supply – European polyethylene (PE) buyers are waiting for imports from new US capacities to arrive in the region, but volumes have been sparse and most sources do not expect much significant supply for weeks yet – European expectations USA PE imports

European expectations USA PE imports European expectations USA PE imports  European expectations USA PE imports  European expectations USA PE imports  European expectations USA PE imports  European expectations USA PE imports  European expectations USA PE imports  

European expectations for US PE imports loom large but no prompt supply

Source:ICIS News

European expectations USA PE imports

LONDON (ICIS)–European polyethylene (PE) buyers are waiting for imports from new US capacities to arrive in the region, but volumes have been sparse and most sources do not expect much significant supply for weeks yet.

Many European buyers visited the recent NPE plastics show in Orlando, Florida, eager to show interest in new volumes being produced in the US.

“We didn’t really manage to secure any volumes, but it was interesting to see how producers have different approaches,” said one buyer.

“Some are budgeting their volumes to each market, and others are just sending as much as they can to Asia.”

Netbacks are clearly of interest to producers of new volumes, and Europe remains resolutely weaker compared to other regions in many grades.

Free on board (FOB) US levels are often higher than net delivered prices in Europe.

US product is also subject to a 6.5% import duty, the same as from countries in the Gulf Cooperation Council (GCC).

European expectations USA PE imports

The above graph shows the FOB US high density polyethylene (HDPE) blowmoulding price, the China cost and freight (CFR) level, and the net spot northwest Europe (NWE) blowmoulding level, minus costs and 6.5% duty, to give a an idea of an equivalent CFR price into Europe.

European prices in dollar terms are lower than formerly because of the weakness in the euro compared with the US currency.

Europe saw an incursion by one US seller in April, and C4 (butene based) linear low density polyethylene (LLDPE) led to a bout of fierce resistance from local suppliers, who did not intend to give up any market share.

Some sources expect new US capacity to be absorbed with only a tweak down of existing production rates, but the skirmish that resulted in the recent foray into Europe suggested it might not be so simple.

The main question at present is when Europe can realistically expect to see more significant volume from new US capacities.

Traders have found it difficult to get hold of large volumes for import, and C4 LLDPE is the grade that seems to be most readily available, although volumes are not high, prices not cheap, and infrastructure problems are not unusual.

Some HDPE is on its way but via established channels, and to regular buyers, said one producer.

Another said it did not expect any HDPE spot offers from new production for months, given the current status of plant start-ups.

Recent/upcoming North American new PE plants

Company Capacity ‘000 tonnes Grades Location Start-up
Sasol/INEOS 470 HDPE La Porte, Texas, US Nov 2017
ExxonMobil 1,300 mLLDPE, LLDPE (2 x 650) Mont Belvieu, Texas, US End 2017
Chevron Phillips 1,000 HDPE, mLLDPE Sweeny, Texas, US Q3 2017
Dow Chemical 400 Elite PE Freeport, Texas, US Q3 2017
Dow Chemical 350 LDPE Plaquemine, Louisiana, US Q4 2017
Sasol 470 LLDPE Lake Charles, Louisiana, US 2018
Sasol 420 LDPE Lake Charles, Louisiana, US 2019
Formosa Plastics 800 HDPE (400), LDPE (400) Point Comfort, Texas, US H2 2018
Dow Chemical 125 Bimodal HDPE/MDPE Seadrift, Texas; St Charles, Louisiana 2018
LyondellBasell 500,000 HDPE LaPorte, Texas Mid-2019
ExxonMobil Chemical 650 PE (unspecified) Beaumont, Texas 2019

While players are discussing potential arrival dates of new product imports for 2018, and where the best netbacks can be achieved, at some point exports from the US are expected to be more widespread once more capacity comes on stream.

A good portion of the new PE is destined for export.

PE is used in packaging, the manufacture of household goods, and also in the agricultural sector.

Pictured: US energy and petrochemicals major ExxonMobil’s Baytown new ethane cracker in the Gulf Coast
Source: ExxonMobil

By Linda Naylor

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-Russia Eyes Petrochemicals As Answer To Crude Oil Reliance – On a sprawling construction site in Western Siberia, about 20,000 workers are busy building what will be one of the world’s five biggest petrochemical plants – On a sprawling construction site in Western Siberia, about 20,000 workers are busy building what will be one of the world’s five biggest petrochemical plants, part of a play by Russia to capture more of the value from the oil it produces – Russia Petrochemicals Crude Oil Reliance

-Asia petrochemicals outlook, w/c May 14 -Asian petrochemical prices are seen likely to continue to trend higher this week amid support from bullish crude futures – Asia petrochemicals outlook

-Asia petrochemicals outlook, w/c May 7 – Petrochemical market participants will be keeping a close eye on developments upstream this week, particularly the fate of the US-Iran nuclear agreement and its impact on crude oil, which in turn will influence aromatics and MTBE markets – Asia petrochemicals outlook

-EMEA petrochemicals outlook, w/c Apr 23 – The European ethylene market looks stable as the recent length has cleared following a spate of exports to Asia – EMEA petrochemicals outlook

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-The initial price for MEG in Europe for April deliveries fell by EUR20 per tonne – The initial contract price of monoethylene glycol (MEG) in Europe for April deliveries was agreed at the level of EUR965 per tonne, which is EUR20 per ton lower than the March contract prices – Price MEG Europe April

-China’s MEG up in anticipations of better supply-demand for Q2 – China’s MEG market has remained rangebound for around two weeks, and domestic spot prices shivered around 7,000yuan/mt – China MEG prices market

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-MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne – MEGlobal April contract price MEG Asia4

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Forget About Oil at $80. The Big Rally Is in Forward Prices – Crude Oil $80 Prices

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Forget About Oil at $80. The Big Rally Is in Forward Prices

Brent crude oil grabbed all the attention after spot prices hit $80 a barrel last week. And yet, almost unnoticed, a perhaps more important rally has occurred in the obscure world of forward prices, with some investors betting the “lower for longer” price mantra is all but over.

The five-year Brent oil forward price, which has been largely anchored in a tight $55-to-$60 a barrel range for the past year and a half, has jumped over the last month, outpacing the gains in spot prices. It closed at $63.50 on Friday.

“For the first time since December 2015, the back end of the curve has been leading the complex higher,” said Yasser Elguindi, a market strategist at Energy Aspects Ltd. in New York. “It seems that the investor community is finally calling into question the ‘lower for longer’ thesis.”

Crude Oil $80 Prices

Bob Dudley, the chief executive of oil giant BP Plc, coined the “lower for longer” mantra in early 2015, warning of a protracted period of cheap crude. He later clarified that he meant “lower for longer, but not for ever.”

More to Run

While spot prices fluctuate wildly, the five-year forward usually trades in a narrower range, anchored by longer views about future supply and demand. Over the past three years, long-dated prices had been weighed down by the belief the growth in U.S. shale production, combined with the adoption of electric vehicles, would keep prices under control.

Investors are now questioning that hypothesis, pushing up forward prices. Over the past month, Brent five-year forward futures gained 11 percent, compared with a 6.8 percent increase in futures for immediate delivery.

“We think there is more to go for the longer date contracts,” SEB chief commodities analyst Bjarne Schieldrop said. “This will send very positive price signals into the whole oil space with higher confidence, optimism and evaluations as a likely consequence.”

There are several reasons for the sudden surge in forward prices. Oil consumption is expanding much faster than anticipated, adding growth in two years that would normally three. At the same, oil investment has dropped significantly over the past three years, particularly in projects that take longer to develop such as ultra-deep water offshore, raising doubts about future supply growth despite the gains in Texas, North Dakota and other U.S. shale regions.

Moreover, a change in marine fuel oil specifications by 2020, which should increase significantly the demand for diesel-like refined products, is further reinforcing the belief among some investors that the oil market will be tighter than expected in the future.

Morgan Stanley Says a Shipping Revolution Has Oil Headed for $90

The buying has sparked a rally in later-dated contracts in the past week and a half that traders say is even more impressive than Brent’s march past $80 a barrel. The grade for delivery in December 2022 has surged 10 percent since to beginning of the month to nearly $64 a barrel. The December 2023 has risen above $63 a barrel.

The higher forward prices are also catching the attention of some equity investors as they usually use longer-dated prices to value energy companies.

Despite the rally in forward prices, oil exploration and production companies, which typically hedge their production further out in the curve, have remained reticent to buy in, according to John Saucer, vice president of research and analysis at Mobius Risk Group in Houston. Oil producer selling typically puts pressure on the back of the curve.

Investors aren’t just buying outright long-dated futures, but also betting through the options market on much higher prices in the early part of next decade by buying call options. The contracts, which give investors the right to buy at a predetermined price, are popular among commodities hedge funds.

Call options that would profit from Brent rising to $130 a barrel by the end of 2020 traded 2,000 times on Friday. That follows a similar amount of $100 contracts for the same period trading over the past two weeks.

— With assistance by Jessica Summers, and Sheela Tobben

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-Saudi Arabia Needs $88 Oil – Higher oil prices have provided a boost to the economies of oil-exporting nations such as Saudi Arabia – Saudi Arabia $88 Crude Oil

-BP says still sees oil at $50-$60/bbl in 2018 as shale output surges – BP expects benchmark oil prices to weaken in the second half of the year as U.S. shale production surges by up to 1.5 million barrels per day – BP crude oil $50 $60 barrel 2018 shale output

-Iran and the oil market – How Iran’s nuclear deal and a host of other factors are forging a new crude reality – Iran Crude Oil market

-Oil output cuts succeeded but future cloudy – There is a danger of Opec, non-Opec members exceeding their vision due to current rally in oil prices, energy expert says – Oil output cuts Opec nonOpec

-Who’s to blame for costly oil? Saudis, Russia and Trump himself – Rising oil prices are now the latest target in President Donald Trump’s cross-hairs. The nation’s tweeter-in-chief complained Friday about OPEC fueling – Blame costly oil Saudis Russia Trump

-Oil pulls back from gains; OPEC says glut nearly gone – Oil prices on Thursday hit highs not seen since 2014, built on the ongoing drawdowns in global supply and as Saudi Arabia looks to push prices higher, though U.S. crude gave back gains in the afternoon to finish lower – Crude Oil OPEC glut Saudi Arabia

-Escalating Middle East Tension Could Trigger Oil Prices To Hit $100 Per Barrel – Oil prices could soon soar to $100 per barrel amid growing fear about conflict in the Middle East, according to an oil analyst for CNBC – Oil Prices $100 Barrel

– IEA: OPEC Mission Near Completion as Oil Glut Vanishes – OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation – IEA OPEC Crude Oil Glut

-Is Russia Cheating On The OPEC Deal? – After three months of steady output, Russia’s crude oil production increased in March to 10.97 million bpd, the highest level since April 2017, as the top two Russian companies boosted their production – Russia Cheating OPEC Deal

-Oil price crosses $70 amid Iran deal tensions – Oil prices rose as investors saw increasing possibility that the US could withdraw from the historic Iran nuclear deal – Crude Oil price dollars 70 Iran tensions

-Is $70 oil the new normal? – The global economy is poised to cope well even if oil prices will remain at around $70 per barrel throughout 2018, energy experts said – Dollars 70 barrel crude oil shale oil

-Will oil prices remain strong for the rest of the year? – The oil inventory trajectory anchors oil prices in the short term, and the cost of bringing on the marginal barrel of US tight oil supply serves as the medium-term anchor for prices – The oil inventory trajectory anchors oil prices in the short term, and the cost of bringing on the marginal barrel of US tight oil supply serves as the medium-term anchor for prices – Crude Oil prices

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