ICE and Hedge | December 10, 2021
Intercontinental Exchange, Inc. a leading global provider of data, technology, and market infrastructure, announced that it plans to launch its first ethylene futures contracts on December 13.
Designed for participants who need to manage their exposure to ethylene price risk from the U.S. Gulf Coast to Asia, the two cash settled futures contracts are based on ethylene price assessments by ICIS. The ICIS CFR NE Asia ethylene assessment and the ICIS CFR SE Asia ethylene assessment are quoted on a cost and freight basis per metric ton of ethylene for delivery.
“These new contracts will provide a direct hedge for the market to manage its ethylene exposure on the water from the Gulf Coast to Asia. There is tremendous demand from Asia for these contracts given the role ethylene plays in the plastics and packaging manufacturing industry.”
J.C. Kneale, Vice President, North American Gas and Power at ICE
Ethylene is considered to be amongst the most important and widely used petrochemical components. It is one of the key ingredients to make plastic, PVC, polyethylene, and ethylene glycol used in polyester and antifreeze. Polyethylene is estimated to account for more than half of global ethylene demand and is used to make packaging, trash can liners, as well as coating paper and cardboard.
“With its new ethylene export capacity, the US is now a significant player in the global ethylene market. Our petrochemicals team in North America and Asia is immensely pleased to be working with ICE to provide end-to-end hedging solutions in this space,” said Mark Quiner, Head of Petrochemicals at Marex. “We share ICE’s focus on derivatizing petrochemicals in the U.S. as it allows us both to offer our clients international vertical hedging solutions from the well-head all the way to the end of the barrel.”
“Ethylene is the starting point for so many consumer and industrial goods that impact our daily lives,” said Anne-Sophie Purtell, Regional Head of Sales, Greater Asia at ICIS. “The decision to launch the futures contracts shows the increased sophistication of the market. ICIS price assessments are referenced throughout the world and represent an industry reference point. We are delighted that ICE’s Asia ethylene futures contracts will be settled on ICIS price assessments.”
The new ethylene contracts will trade alongside ICE’s existing Gulf Coast ethylene contract, the Ethylene, OPIS PCW Mont Belvieu future, and the contracts which hedge the feedstocks to make ethylene including the ICE Ethane, OPIS Mt. Belvieu Non-TET future and option contracts.
In addition, ICE plans to launch its first Asia Propylene contracts on January 10, which will be the Propylene ICIS CFR NE Asia Future and the Propylene ICIS CFR SE Asia future. Propylene is the raw material to produce polypropylene, a widely produced commodity plastic, with applications in many household items, clothing, and other consumer products.
About Intercontinental Exchange
Intercontinental Exchange, Inc.is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
PPG | May 24, 2021
PPG today announced the introduction of PPG CORAFLON® Platinum fluoroethylene ether (FEVE) fluoropolymer powder coatings for architectural extrusions and sheet aluminum. The patented coatings technology offers high transfer efficiency rates of quite 20% and improved corrosion resistance compared to plain FEVE powder coatings.
PPG Coraflon Platinum powder coatings are available globally during a wide selection of colours , glosses, including micas and metallic finishes, for metal building components and architectural applications that demand the industry’s highest levels of corrosion and weathering resistance. Additional color options include a good range of eye-catching mineral tones and textures that mimic cement, stone, terracotta and other natural finishes.
The coatings are compliant with the Fenestration and Glazing Industrial Alliance and American Architectural Manufacturers Association (FGIA/AAMA) 2605 and backed by quite nine years of third-party testing data, passing 4,000 hours of cyclic corrosion testing. they provide architects an extended gloss range from five to 85 compared to 25 to 70 for normal FEVE powder coatings. this enables the coatings to realize the design of anodized aluminum when laid out in a matte (low-gloss) finish, all while providing corrosion resistance and long-term colorfastness impossible with the normal anodized process.
PG Coraflon Platinum coatings are tested to satisfy strict environmental standards, including Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) standards in Europe. The powder technology is specifically formulated without substances of interest, like triglycidyl isocyanurate (TGIC), perfluorooctanoic acid (PFOA), fluorosurfactants, volatile organic compounds (VOCs), hazardous air pollutants (HAPs) and Living Building Challenge (LBC) Red List substances. The coatings even have been tested to realize 70% less e-cap than competing products.
All PPG Coraflon Platinum coatings are covered by a 20-year warranty that meets AAMA 2605 specifications for film integrity, chalk resistance and color change.
At PPG, we work a day to develop and deliver the paints, coatings and materials that our customers have trusted for quite 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to seek out the proper path forward. With headquarters in Pittsburgh, we operate and innovate in additional than 70 countries and reported income of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets.
PRODUCTS AND TECHNOLOGIES
Lummus Technology | December 03, 2021
Lummus Technology announced it has been awarded a contract from the Gazpromneft Moscow Refinery for two fired heaters. The heaters will be installed at the refinery in Moscow, and are part of the plant's modernization to improve operational efficiency and environmental performance.
"This award is a great example of how Lummus supports its customers across their capital investment and operational cycles. We are building on CLG's delayed coking technology with our advanced heater technology and supporting our partner in reliable operations to optimize light product yields, while delivering high run-length and energy efficiency at the Moscow Refinery."
Leon de Bruyn, President and Chief Executive Officer of Lummus Technology
Lummus' scope includes the design and supply of two fired heaters, adding to the delayed coking technology that CLG, a joint venture between Chevron and Lummus, provided in 2018.
Lummus' delayed coking heaters can handle a wide range of feedstocks in refineries and upgrades for both fuel and specialty coke production. Current heater designs work in cooperation with CLG's delayed coking technology and incorporate multiple cabins with single coils to deliver superior individual firing, precise temperature control and stringent air quality standards.
About Lummus Technology
Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization and related lifecycle services to customers worldwide.
About the Moscow Refinery
The Moscow Refinery is the main supplier of fuels to the Moscow region, covering 40 percent of the capital's market. The refinery has been undertaking a full-scale modernization program since 2011. Thanks to various initiatives the plant has already cut production-driven environmental impacts by 50 percent, with these expected to drop another 50 percent by 2021 once the second phase of modernization is complete.