Market News COSCO builds $600 mln deepsea drilling rig for Norway June 28, 2009 by plasticsinfomart A shipyard under China’s state-run COSCO Group has built a $600 million ultra deepwater drilling rig for Norwegian oilfield services group Sevan Marine (SEVAN.OL), state media reported on Sunday. The rig, Seven Driller, can sink wells 40,000 feet deep and store 150,000 barrels of crude oil. The Norwegian firm, which has contracted the rig to […] Read more »
Market News Russia to keep cheap energy supplies to Belarus: Putin June 28, 2009 by plasticsinfomart Russia will continue to maintain cheap energy supplies to Belarus in the near future to support its economy, Russian Prime Minister Vladimir Putin said Sunday. “For the near future we intend to continue this, while bearing in mind the tendency toward switching to world price levels for hydrocarbons,” Putin was quoted as telling leaders of […] Read more »
Market News OPEC helps savvy oil traders sell millions of barrels June 28, 2009 by plasticsinfomart Oil traders are relying on an unwitting ally, OPEC, to help them quietly exit what experts say is one of their most lucrative gambits ever — storing vast oil supplies at sea to sell later for profit. Trading firms like Koch KCHIN.UL and Vitol have sold millions of barrels from supertankers into the United States […] Read more »
Category Menu Product News PolyOne introduces Resound biopolymer compounds June 28, 2009 by plasticsinfomart PolyOne announced the initial launch of the new Resound platform of biopolymer compounds at a press conference held during NPE 2009. These patent-pending compounds, formulated with a 30% minimum bio-derived content, offer a substantial boost in performance for current and future bio-based materials. Key improvements include levels of heat tolerance and impact resistance unobtainable with […] Read more »
Market News TSX surges 2.5 pct as energy, golds rally June 26, 2009 by plasticsinfomart Toronto’s main stock index shot higher in a broad-based rally on Thursday as a rise in oil and gold prices lit a fire under the resource-heavy index and lifted it higher for the week. The energy sector rose 4 percent to lead the rise as oil prices moved sharply to above $70 a barrel, given […] Read more »
Market News Oil surges on Nigeria attack, U.S. refinery problem June 26, 2009 by plasticsinfomart Oil prices rose sharply to above $70 a barrel on Thursday on renewed rebel attacks against oil facilities in Nigeria and worries that a glitch at the largest U.S. oil refinery could tighten gasoline stockpiles this summer driving season. Crude also got a lift from a rally on Wall Street fueled by optimism the economic […] Read more »
Market News When Chinese Rubber Hits the U.S. Road June 26, 2009 by plasticsinfomart Washington, DC – Last week the U.S. International Trade Commission ruled affirmatively on a petition from the United Steelworkers on a Section 421 “safeguard investigation” under the 1974 Trade Act. The petition requested that the Administration cut the number of Chinese tires imported into the U.S., and the ITC is now working on proposed trade […] Read more »
Market News Low density polymer trades lower on reduced offtake June 26, 2009 by plasticsinfomart June 25 Low density polymer prices traded marginally lower by 50 paise per kg on the the local plastic market in the national capital today owing to sluggish demand from plastic bag makers and plastic moulding units. Marketmen said reduced offtake from plastic bag makers and plastic moulding units mainly helped low density polymer prices […] Read more »