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Lower fuel costs a mixed blessing for deep-sea chemical tanker firms

2:18 PM MST | February 12, 2016 | Ian Young

Deep-sea chemical tanker market leaders Stolt-Nielsen and Odfjell posted a mixed set of results for the fourth quarter of 2015. Stolt's earnings improved due to lower bunker fuel costs caused by falling oil prices but Odfjell's earnings were driven down by...


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MORE EUROPE

Report: UK chemical industry could lose £7 billion/year in exports if country leaves EU

The chemical industry in the United Kingdom could face a loss of exports of up to £7 billion/year if the country leaves the European Union following an upcoming referendum, according to a report by Euler Hermes (Paris), a trade credit insurance company...

Saltigo names Torsten Derr as new boss

Saltigo (Leverkusen, Germany) has announced that Torsten Derr will take over as head of the company from April 1. Currently head of the Lanxess board of management’s commercial & supply chain excellence initiative, Derr will replace Wolfgang...

Germany's employer association warns of high labor cost in advance of pending pay negotiations

The labor cost in the Western Germany chemical industry was €52.96 ($59.9) per working hour in 2014. Only Belgium, which is relatively small in comparison, is more expensive, the employers association BAVC (Wiesbaden) says. In contrast, Germany’s...

Acquisitions boost Kemira's sales, profit

Kemira (Helsinki) has announced sales of €600.2 million ($676.3 million) in the fourth quarter of 2015, compared with €547.1 million in the corresponding quarter of 2014, an increase of 9.7% year-on-year (YOY). Operative Ebitda was €68.0...

Total posts higher refining, chemicals income; refinery restructuring ahead of schedule

Total has announced an increase in fourth-quarter earnings at its refining and chemicals business, and says that the restructuring of the company's refining business in Europe will be completed one year ahead of schedule. Adjusted net operating income at...

Inovyn to award Antwerp chlor-alkali contract this quarter

Inovyn, the Ineos-Solvay chlorvinyls joint venture has placed orders for additional major plant items for its previously announced large scale potassium hydroxide (KOH) production facility at Antwerp.  This includes a KOH evaporation unit ordered from...

Yara reports weaker fourth-quarter on lower margins and deliveries

Yara International (Oslo), a leading global fertilizer producer, on Thursday reported slightly weaker-than-expected fourth-quarter results compared with a year earlier, with Ebitda excluding special items 24% lower. Positive currency and energy gains were...

AkzoNobel in talks to acquire BASF's industrial coatings business

AkzoNobel, the leading global producer of paints and coatings, said on Thursday it is in discussions with BASF to acquire BASF’s industrial coatings business. “The strategy of AkzoNobel of driving operational excellence and organic growth...

Lanxess-Saudi Aramco synthetic rubber JV to be launched on 1 April under the name Arlanxeo

Lanxess and Saudi Aramco say that all relevant antitrust authorities have cleared their previously announced synthetic rubber joint venture, and the jv will be launched on 1 April, under the name Arlanxeo. Lanxess, which is the world’s largest producer...

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