The British Chambers of Commerce bemoaned “another day lost while the clock is ticking” down towards the UK’s withdrawal from the European Union.
A number of British business leaders have warned of economic chaos and food shortages in the event of a no-deal Brexit.
“Government and Parliament are still going round in circles when businesses and the public urgently need answers,” Adam Marshall, the BCC Director General, said after Tuesday’s votes in Parliament. “The real-world result of Westminster’s interminable wrangling is market uncertainty, stockpiling, and the diversion of staff, money and investment.”
China – Polyethylene Terephthalate
PET and its chain are weak,with the
slowdown in trade, due to the
upcoming Chinese New Year holidays
PET Bottle grade export 1,040/1,080 $/ton – PET Bottle grade domestic market 8,300/8,400 yuan/ton – PET Filament grade SD domestic market 7,800/7,950 yuan/ton – PET Filament grade BR domestic market 7,800/7,900 yuan/ton
PTA Taiwan 820/830 $/ton – PTA domestic market 6,400/6,500 yuan/ton – MEG $ 620/630 $/ton – MEG domestic market 5,000/5,100 yuan/ton – PX Korea 1,030/1,045 $/ton
POY 150D/48F domestic market 8,500/8,600 yuan/ton – DTY 150D/48F domestic market 10,350/10,450 yuan/ton – PSF domestic market 8,900/9,000 yuan/ton
- Association of Plastic Recyclers Report: Use of Recycled Plastic Linked to Reduced Energy Consumption, Lower Greenhouse Gas Emissions
A new report published today by the Association of Plastic Recyclers (APR), the international trade association representing the plastics recycling industry, finds significant reductions in energy consumption and greenhouse gas emissions associated with incorporating recycled plastic resin into the manufacturing of new products.
The report – a Life Cycle Inventory Analysis conducted by leading industry research consultants Franklin Associates, a division of ERG – analyzed the energy requirements and environmental impacts of postconsumer recycled plastic resin as compared to virgin plastic resin.
“This study shows a win-win for companies who incorporate recycled plastic resin into their new products. They can improve the environmental sustainability of their products and processes and reduce their energy costs,” said Steve Alexander, President of APR. “It demonstrates the importance and effectiveness of the full recycling chain for plastic goods – a chain that starts with companies manufacturing recyclable products, and ends with consumers buying products made from recycled materials.”
Senior Brexiters join remainers to propose extending transition period by nine months
Rival Conservative factions have come together to propose a possible breakthrough to the Brexit impasse involving extending the transition period by nine months.
Senior Tory Brexit supporters including Jacob Rees-Mogg and Steve Baker hatched the plan with leading remainers including Nicky Morgan and Stephen Hammond.
The proposal involves paying the £39bn EU divorce bill, redrafting the backstop arrangements over the Irish border, and extending the implementation period until December 2021.
- Crude Oil Prices Trend
Marcel Lubben appointed as Synvina’s Managing Director
Avantium has retaken full ownership of its YXY plants-to-plastics technology through the purchase of BASF’s shares in the Synvina joint
venture. Avantium has appointed Marcel Lubben as Managing Director of Synvina to lead the commercialization of the YXY technology, effective 1 February 2019.
Avantium has regained the intellectual property, people and assets for YXY and has paid BASF €13.7 million for its equity stake in Synvina, as agreed in the Joint Venture Agreement. A net payment of €3.7
million was made for full ownership of the assets acquired by Synvina in the last two years.
Avantium is redefining the path to commercialization for the YXY technology, which it developed to catalytically convert plant-based sugars into FDCA (furandicarboxylic acid) and materials such as the
new plant-based packaging material PEF (polyethylenefuranoate).
PEF can fulfil the demand of leading brands and consumers for next-generation materials that are environmentally friendly and recyclable, and has the potential to be a game changer in the circular economy. Avantium plans to make further announcements on its new strategy to commercialize YXY during the first half of 2019.
SONGWON Industrial Co., Ltd. (www.songwon.com) proudly announces that it has become one of the first chemical companies in the world to package its products in 20kg PE-bags made with 50% recycled PE.
SONGWON has collaborated with the German innovative packaging specialists, RPC bpi nordfolien, to develop PE-bags for packaging 20kg of product using recycled materials originating from different waste streams, including industrial printed bags that have already been used.
All of the solvents that are required for de-inking are also recycled continuously in a closed loop process.
- Applied DNA Signs MOU with Tex-Ray Industrial to Introduce CertainT® Authentication Platform to Global Textile Brands
Tex-Ray’s Established Supply Chains, Geographic Reach and Technology Innovation to Position CertainT® to Offer Brand Protection and Traceability for Performance Fabrics, Smart Clothing and Sustainable Materials in Apparel, Footwear and Textile Components
Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA,” the “Company”), a leader in PCR-based DNA manufacturing for product authenticity and traceability solutions, today announced the signing of a non-binding Memorandum of Understanding (“MOU”) with Taiwan-based Tex-Ray Industrial Co., Ltd (“Tex-Ray”), a pioneer in performance fabric and smart clothing for modern active lifestyles. The MOU is expected to be followed by a definitive agreement.
“Our company’s mission is to be at the forefront of the smartest clothing and highest performance fabrics. Partnering with Applied DNA furthers our mission, enabling us to use the most reliable authentication solutions with the broadest applications.”
Under the terms of the MOU, Tex-Ray and Applied DNA will create a Center of Excellence in Taiwan, the industry-acknowledged hub for textiles innovation to: integrate Applied DNA’s CertainT tag, test and track authentication platform into new product development of yarns, finishes and fabrics; for designing streamlined supply chain processes to reduce time-to-market for Applied DNA products and services; and, to grow capabilities in marketing, sales and support for servicing global customers.
The partnership between Unilever and Bio-on has created new brand My Kai, set to enter the cosmetics market with the first line of eco-friendly sun creams.
It is the world’s first product made from the new cosmetic ingredients designed by Bio-on: micro powders made with the revolutionary minerv bio cosmetics bioplastic, obtained from renewable plant sources and 100% biodegradable.
Bio-on’s ultra-green ingredients enable cosmetics products to significantly reduce the percentage of UV filters, which are essential to protect the skin but can be harmful for the environment, boosting water resistance at the same time.
My Kai products will be available in stores from March 2019.
Bio-on is proud to present alongside Unilever a brand-new line of sun protection products made from its revolutionary, 100% natural and biodegradable bioplastic.
The ongoing trade war of China with the United States in hitting the country in multiple dimensions. In a fresh blow, China has registered the lowest annual number of vehicles sold in past two decades as trade tensions are still floating around in the market thus weakening the economy of the country day by day.
In the recent past, China had revealed significant reduction in the activities carried out in the manufacturing as well as automobile sector due to declining demand.
The association for passenger cars in China has said that the sales have dropped down by 5.8% as compared to the earlier year.
The decline in the number of vehicles sold in a year has brought the total down to 22Mn vehicles which has been the lowest in past 2 decades. CCTV of China has said that this has been the largest decline which is seen as a big sign of concern as it shows significant economic slowdown.
The bad news coming out of the shale oil fields of America could all be put down to slumping oil prices. That is certainly a big factor. But as investment professionals like to say, when the tide goes out, we all find out who’s been skinny-dipping.
The pattern of negative news from shale country is not just related to price, however. Oil production, it seems, is being overstated industry-wide by 10 percent and 50 percent in the case of some companies, according to The Wall Street Journal.
The CEO of one of the largest players in the industry, Continental Resources, predicted that growth in shale oil production could fall by 50 percent this year compared to last year. In reality, we should expect worse as the industry for obvious reasons tends to exaggerate its prospects.
The political power struggle in Venezuela is heating up, and there seems to be no real solution on the horizon yet.
The surprise move by Venezuela’s opposition leader Juan Guaido to declare himself interim president on Wednesday has backed the country’s president Nicolas Maduro into a corner. The outcome of this power struggle is far from clear, as long as the Venezuelan army is supporting the Maduro government. International support for Guaido is, however, growing as US president Trump was quick to back the opposition. Still, Maduro has support from Iran, Turkey and Qatar. Russia, one of Maduro’s traditional supporters, is considering its position.
The current stalemate only will be broken if one party is taking very harsh measures to remove the other. Washington could get engaged in the power struggle, as military action is already an option on the table.
Teijin Limited announced today that it has been awarded a contract to supply its Tenax carbon fiber material to Bombardier Aerostructures and Engineering Services for another seven years until 2025.
Teijin focuses on aircraft business as one of the growth strategies in its medium-term management plan for 2017-2019 and is intensively accelerating its development of mid- to downstream applications, such as cost-effective carbon fibers with higher-tenacity and higher-tensile modulus, intermediate materials including Tenax TPUD, carbon fiber thermoplastic consolidated laminate (Tenax TPCL), thermoset prepreg and non-crimp fabric. Going forward, Teijin intends to further strengthen its carbon fiber and its intermediate material business as a leading solution provider for aircraft applications, targeting annual sales in this field in excess of USD 900 million by around 2030.
The Abu Dhabi National Company (ADNOC) is taking in Italian Eni and Austrian OMV as strategic partners in its refining subsidiary, with a further plan to set up a trading joint venture, the UAE-based energy firm said over the weekend.
Under the deal, Eni will have a 20% stake in ADNOC Refining, formerly known as Takreer, while OMV will have a 15% stake, with ADNOC holding the remaining 65%, ADNOC said in a statement dated 27 January.
The transaction, which is still subject to regulatory approvals, is expected to close in the third quarter.
Total proceeds from the stake sale are estimated at $5.8bn. ADNOC Refining supplies to markets in Africa, Asia and Europe.
WTI: Heading for an upswing?
2018 was a tumultuous year for West Texas Intermediate (WTI) crude oil futures as the effects of Opec-led cuts, US shale production and geopolitical concerns led to massive fluctuations and increased volatility in prices.
The WTI demonstrated a bullish streak at the start of 2018 that led to a three-year record high in crude oil futures. A rapid turn of events in the fourth quarter led to a massive sell-off in crude oil futures as global oil benchmarks shed 45 per cent of market value from previous highs. WTI crude oil futures struggled to find a firm footing in the last leg of 2018 before finding a price floor at the US$42.35 mark on Dec 24.