Economic Stressors Leading to Chemical Industry Overstock
Inflation and rising cost of living has forced consumers to cut back on spending, leading to severe overstock in inventories. Because of this, the global chemical industry has been cutting operating costs. The energy crisis, which has contributed greatly to the complications surrounding the cost of living, has created a demand shock which has left […]
Texas Plants Shut Down Ahead of Freeze
Plants in Texas shut down operations recently in preparation for a cold front that caused temperatures to reach below freezing. Cold weather disruptions, that seemingly started within the last year, are detrimental to Gulf Coast plants as many of them are not equipped to handle long periods of freezing temperatures. Extremely frigid temperatures can […]
How OSRA 22 Plans to Reform Maritime Practices
The Ocean Shipping Reform Act of 2022 (OSRA 22) was introduced this past June in attempts to address major concerns regarding unfair ocean freight practices. This is the first major revision of US maritime regulatory statuses since 1998. The OSRA 22 responds to complaints from US importers, exporters, and other interests who have experienced disruptions […]
Brenntag and Univar Hint at Merger Plans
In November of 2022, chemical industry giant Brenntag said it planned to double its annual spending on mergers and acquisitions, specifically noting the goal of consolidating the industry and improving technical capabilities. Now, Brenntag is reportedly in talks with Univar, the world’s third-largest chemical distributor, regarding a merger. This deal would combine two of the […]
Low Gas Prices Predicted to Go Lower
Gasoline prices are now lower than they were a year ago. With prices down from $3.80 a month ago, and analysts are predicting prices to dip even lower. Even with OPEC+ confirming their 2 million barrel a day production cut previously announced in October, oil prices have still fallen. Patrick De Haan, head of petroleum […]
