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{"company_logo":"https:\/\/www.nghisonchemical.com\/datafiles\/47915\/upload\/images\/NGHISON%20LOGO%20.png","company_name":"nghisonchemical.com","company_email":"nghisonchem@nghisonchemical.com","company_phone":"+84-028-3620 8490 \/ Cellphone : +84-0914 584 799","company_address":"P7-38.OT09 (“Officetel”), Tower Park 7 Vinhomes Central Park, 720A Dien Bien Phu Street, Ward Thanh My Tay, Ho Chi Minh City, Vietnam.","company_fax":"+84-028-3620 8492","date_now":1767183602,"company_tags":["PRODUCTS"],"search_keyword":"Thioure Dioxide 99%Min. ( TDO)","facebook_comment":"https:\/\/www.nghisonchemical.com\/san-pham","breadscrumb":[{"url":"https:\/\/www.nghisonchemical.com","name":"Home","icon":"","active":false},{"url":"javascript:void(0)","name":"Products","icon":"","active":true}],"list_products_tmp":[],"list_section":[{"id":480951,"name":"SECTION-5986","seo_name":"#w30s-section-480951","url":"#w30s-section-480951"},{"id":480955,"name":"SECTION-6460","seo_name":"#w30s-section-480955","url":"#w30s-section-480955"},{"id":480956,"name":"SECTION-6461","seo_name":"#w30s-section-480956","url":"#w30s-section-480956"},{"id":480957,"name":"SECTION-6463","seo_name":"#w30s-section-480957","url":"#w30s-section-480957"},{"id":480969,"name":"SECTION-6462","seo_name":"#w30s-section-480969","url":"#w30s-section-480969"},{"id":480954,"name":"SECTION-6334","seo_name":"#w30s-section-480954","url":"#w30s-section-480954"},{"id":480952,"name":"SECTION-5988","seo_name":"#w30s-section-480952","url":"#w30s-section-480952"}],"category_image_url":"https:\/\/www.nghisonchemical.com\/assets\/images\/no-image.jpg","slider_range_min":0,"slider_range_max":0,"type_page":3,"id_page":322756,"widget_11973442":{"content_data":[]},"widget_11973444":{"content_data":{"content":" <\/span>"}},"widget_11973446":{"content_data":{"content":"NGHI SON CHEMICALS&nbsp; IMPORT EXPORT COMPANY LIMITED "}},"widget_11973447":{"content_data":[{"id":50805,"title":"American","code":"us","is_expires":false,"is_active":1},{"id":50804,"title":"Viet Nam","code":"vn","is_expires":false,"is_active":0}]},"widget_12116045":{"content_data":{"content":"NGHI SON CHEMICALS EXPORT IMPORT COMPANY LIMITED"}},"widget_12116046":{"content_data":{"content":""}},"widget_12099635":{"content_data":{"price_final":"Contact"}},"widget_11973517":{"content_data":[],"content_pagging":{"firstCurrentItem":1,"lastCurrentItem":12,"total":0,"limit":12,"currentPage":1,"total_page":0,"pages":[]}},"widget_12099637":{"content_data":{"content":"Button"}},"widget_11973524":{"content_data":{"content":"product categories"}},"widget_11973528":{"content_data":{"price_final":"Contact"}},"widget_11973532":{"content_data":{"content":"hot products"}},"widget_11973526":{"content_data":[]},"widget_15862115":{"content_data":{"content":"Social network"}},"widget_15862117":{"content_data":{"content":"Online statistic"}},"widget_15862103":{"content_data":{"content":"COMPANY INFORMATION"}},"widget_15862104":{"content_data":{"content":"NGHI SON CHEMICALS IMPORT EXPORT COMPANY LIMITED<\/span><\/strong><\/p>\n\nHead office<\/u> <\/strong>:&nbsp;<\/p>\n\nP7-38.OT09 (\"Officetel\") Vinhomes Central Park, 720A Dien Bien Phu Street, Thanh My Tay Ward, Ho chi minh city, Vietnam 70000<\/p>\n\nLicense\/Tax Code : &nbsp;0312824002<\/span><\/p>\n\nTel: &nbsp; +84-28-36208490<\/p>\n\nFax : +84-28-36208492<\/p>\n\nWebsite: https:\/\/www.nghisonchemical.com<\/span><\/p>\n\nEmail : Nghisonchem@nghisonchemical.com<\/p>\n\nNscchem@nghisonchemical.com<\/p>\n\nNghisonchem@gmail.com&nbsp;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n"}},"widget_15862105":{"content_data":{"content":"factory &amp; warehouses"}},"widget_15862106":{"content_data":[{"id":726487,"name":"Chemicals news - NOV. 25TH-27TH 2025","desc":"Asia-US container rates fall as capacity continues to outweigh demand<\/strong><\/span><\/span><\/p>\n\n<h1>&nbsp;<\/h1>\n\n<h1>&nbsp;<\/h1>\n\n<h1>&nbsp;<\/h1>\n\n<h1>&nbsp;<\/h1>\n\n<h1>&nbsp;<\/h1>\n\n<h1>&nbsp;<\/h1>\n\n<h1>&nbsp;<\/h1>\n\n<h1><meta charset=\"UTF-8\" \/><\/span><\/span><\/h1>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/27\/11159892\/mexico-s-braskem-idesa-on-restricted-default-after-unpaid-interest-coupon-fitch\">Mexico&rsquo;s Braskem Idesa on &lsquo;restricted default&rsquo; after unpaid interest coupon &ndash; Fitch<\/a><\/span><\/span><\/h3>\n\nSAO PAULO (ICIS)&ndash;Fitch Ratings has downgraded a portion of Mexican polyethylene (PE) producer Braskem Idesa&rsquo;s debt obligations to the &ldquo;restricted default&rdquo; (RD) credit rating after the company was unable to pay interest on one of its bonds. The missed coupon payment was for a bond maturing in 2029 and was due last week. After a five-day grace period, the producer did not manage to find the cash to fulfill its obligation. According to Fitch&rsquo;s methodology, an RD rating applies to an issuer that has an uncured payment default &ndash; the 2029 bond&rsquo;s coupon &ndash; but has not filed for bankruptcy or ceased operations. Moreover, the agency kept some debt obligations under the C rating it gave them last week. &ldquo;Braskem Idesa skipped an interest payment due on 18 November on its $900 million senior secured notes &hellip; The rating [RD] action follows the company&#39;s failure to cure the missed interest payment &hellip; during the company&#39;s ongoing negotiations with creditors,&rdquo; said Fitch. &ldquo;Possible debt restructuring:&nbsp;Braskem Idesa announced on 8 September that it had hired a financial advisor to evaluate financial alternatives for its strained liquidity and capital structure. The company may enter a debt restructuring process in the near to medium term.&rdquo; The downgrade to RD is the third rating action taken by Fitch in the past two weeks. First, the agency downgraded Braskem Idesa&rsquo;s rating from CCC+ to CC, down from &#39;CCC+, then further downgraded it again C once it entered the contractual grace period. All ratings fall under the category of &lsquo;non-investment grade&rsquo; debt, also referred to as junk debt. Fitch&rsquo;s rating scale has 11 notches &ndash; from AAA to D (default). See the agency&rsquo;s rating scale here. Braskem Idesa is a joint venture between Brazil&rsquo;s polymers major Braskem &ndash; which holds a 75% stake &ndash; and Mexico&rsquo;s Grupo Idesa. It operates a 1.05 million tonne\/year polyethylene (PE) plant in Coatzacoalcos, in the Mexican state of Veracruz. Braskem Idesa and Braskem had not responded to a request for comment at the time of writing. MEXICAN WOES, BRAZILIAN WOESThe financial woes at Braskem Idesa could end up with parent company Braskem&rsquo;s controlling stake being diluted as it tries to negotiate with an ad-hoc group of bondholders to achieve a sustainable capital structure and preserve operations for the Mexican subsidiary, said analysts at investment bank BTG Pactual earlier this week. BTG Pactual identified two primary dilution scenarios. Grupo Idesa could increase its 25% stake or, bondholders could convert debt into equity, which could significantly alter the ownership structure, given Braskem Idesa&#39;s $2.2 billion total debt. &ldquo;With Braskem Idesa holding $46 million in cash as of Q3 2025, it was widely expected that the company would have difficulties meeting its coupon payments in the short term,&rdquo; BTG Pactual said. In this week&rsquo;s credit rating action, Fitch conducted a recovery analysis assuming a liquidation approach to valuation, with Braskem Idesa&rsquo;s inventory ciphered at Mexican pesos (Ps) 1.7 billion ($93 million) valued at 50% and property, plant, and equipment of Ps29.4 billion valued at 50%, yielding total liquidation value of Ps31.2 billion with a 10% administrative claim. If Braskem Idesa filed for bankruptcy protection, Fitch would downgrade its rating to D but will hold on for now as it reassess ratings after completion of any debt restructuring to reflect the new capital structure, the agency said. Fitch expects the Mexican producer&rsquo;s leverage ratio to reach 22.4 times (22.4x) debt to earnings before interest, taxes, depreciation, and amortization (EBITDA) at year-end, far exceeding parent company Braskem&#39;s ratio above 10x. A leverage ratio of 3.0x or below is considered financially sound. The crisis compounds challenges for Braskem, which is also facing financial difficulties while undergoing a potential control change to investment fund IG4 Capital, which reportedly could be announced imminently. ($1 = Ps18.34) Front page picture: Braskem Idesa&rsquo;s production facilities in Coatzacoalcos Source: Braskem Idesa<\/span><\/span><\/p>\n\n27-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/27\/11159862\/wacker-chemie-to-cut-1-500-jobs-globally-in-300-million-year-cost-saving-project\">Wacker Chemie to cut 1,500 jobs globally in &euro;300 million\/year cost-saving project<\/a><\/span><\/span><\/h3>\n\nLONDON (ICIS)&ndash;Wacker Chemie is to cut more than 1,500 jobs worldwide as part of a &euro;300 million per year cost-saving target, it said on Thursday. Most of the job cuts will be at the group&#39;s sites in Germany as the company aims to make significant savings in production and administration. The project, which was launched in October under the name of PACE, will start in the first quarter of 2026 and is expected to be completed by the end of 2027. &quot;We are currently working on measures to achieve our cost-saving targets,&quot; said Wacker president and CEO Christian Hartel. &quot;The aim is to reduce our costs to a competitive level through savings. This will put Wacker back on the road to success.&rdquo; Hartel added that high energy prices and bureaucratic obstacles in Germany were continuing to hamper development of the chemical industry. The specialty chemicals producer lowered full-year guidance in its third-quarter earnings as weak global demand and lower selling prices caused it to swing to a net loss.<\/span><\/span><\/p>\n\n27-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/27\/11159800\/china-oct-industrial-profits-fall-5-5-after-sep-double-digit-growth\">China Oct industrial profits fall 5.5% after Sep double-digit growth<\/a><\/span><\/span><\/h3>\n\nSINGAPORE (ICIS)&ndash;Profits generated by Chinese industrial firms fell 5.5% on year in October, data from the National Bureau of Statistics (NBS) showed on Thursday. Factors for the contraction include a higher base in the same period last year as well as a rapid growth in financial expenses, said NBS statistician Yu Weining. Development in new quality productivity in traditional industries has shown initial success, with profits in bio-based chemical fiber manufacturing increasing 61.2% between January-October, while recycled rubber manufacturing profits grew by 15.4% during the same period. Growth on industrial profits in January-October stood at 1.9%. Coordinated policy measures will aim to bolster domestic demand and advance new growth drivers, Yu said.<\/span><\/span><\/p>\n\n27-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/27\/11159799\/aster-chemicals-to-double-c2-export-capacity-in-singapore\">Aster Chemicals to double C2 export capacity in Singapore<\/a><\/span><\/span><\/h3>\n\nSINGAPORE (ICIS)&ndash;Aster Chemicals and Energy (Aster) has ordered advanced compressor solutions from Japanese firm Hitachi Asia Ltd (Hitachi) that will double the Singapore-based firm&rsquo;s ethylene (C2) export capacity on Bukom Island. Hitachi will deliver two new compressor units for scheduled delivery in January 2027, which will be used to install a parallel C2 chiller system, Aster said in a statement on Thursday. &ldquo;The project will also deepen synergy between Bukom and the Chandra Asri cracker facility on Cilegon, unlocking further integration and optimisation across the regional C2 derivatives value chain,&rdquo; Aster said. Aster, a joint venture between Indonesia&rsquo;s Chandra Asri and global commodities trader Glencore, owns a refinery with a capacity of 237,000 barrels\/day alongside a 1.1 million tonne\/year naphtha cracker on Bukom Island. It further has 2.5 million tonnes\/year of downstream chemical assets on Jurong Island.<\/span><\/span><\/p>\n\n27-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/27\/11159786\/india-s-gnfc-plans-163-000-tonne-year-ammonium-nitrate-plant\">India&rsquo;s GNFC plans 163,000 tonne\/year ammonium nitrate plant<\/a><\/span><\/span><\/h3>\n\nMUMBAI (ICIS)&ndash;India&rsquo;s Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) plans to set up a 163,000 tonne\/year ammonium nitrate (AN) melt project for Indian rupees (Rs) 4.5 billion ($50 million) at its complex at Bharuch in the western Gujarat state, a company source said on Thursday. The new plant, which will almost double the company&rsquo;s AN melt capacity to 338,000 tonnes\/year is expected to commence operations by July 2027. The company already operates a 175,000 tonne\/year AN melt plant at its Bharuch complex. &ldquo;This project is a downstream project. The upstream projects for this were approved last year,&rdquo; the source said, adding that work is ongoing to increase the company&rsquo;s ammonia and nitric acid capacities. The company is currently in the process of setting up a 200,000 tonne\/year weak nitric acid (WNA) plant and is increasing its ammonia capacity by 50,000 tonnes\/year at its Bharuch complex. GNFC can currently produce 347,000 tonnes\/year of WNA and 445,500 tonnes\/year of ammonia at its Bharuch complex as per the company website. Separately, the company is also exploring the possibility of building a 150,000 tonne\/year bisphenol A (BPA) plant and a 100,000 tonne\/year polyols unit, the company source said. GNFC is currently conducting market surveys and feasibility studies for the two projects, he added. ($1= Rs89.23)<\/span><\/span><\/p>\n\n27-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/26\/11159491\/asia-us-container-rates-fall-as-capacity-continues-to-outweigh-demand\">Asia-US container rates fall as capacity continues to outweigh demand<\/a><\/span><\/span><\/h3>\n\nHOUSTON (ICIS)&ndash;Rates for shipping containers from east Asia and China to the US fell significantly week on week as available capacity continues to outstrip demand, according to shipping analysts. Rates from global logistics company Freight Right on its TrueFreight Index (TFX) experienced significant weekly decreases, as shown in the following chart. Robert Khachatryan, founder and CEO of Freight Right Logistics, said spot rates to the West Coast continued their rapid decline this week, now falling to the $1,350-1,500\/FEU (40-foot equivalent unit) range, with some carrier-specific lows touching $1,350\/FEU. &ldquo;This marks the fifth or sixth consecutive weekly drop, driven by slow demand and an extremely short holiday week in the US,&rdquo; Khachatryan said. Rates to the East Coast also fell, now averaging about $1,900\/FEU, shrinking the typical spread between West and East Coast from $800-900\/FEU to just $600-700\/FEU. &ldquo;Both lanes are effectively at or near their &lsquo;rock-bottom&rsquo; levels for the year,&rdquo; Khachatryan said. &ldquo;The market anticipated declines in late November, but not to this extreme, and not at month-end heading into December.&rdquo; Rates to the West Coast from online freight shipping marketplace and platform provider Freightos plunged by 32% from the previous week and fell by 8% to the East Coast. Judah Levine, head of research at Freightos, said rates remain slightly above the low for the year, hit in early October. &ldquo;The current overcapacity on the East-West lanes is the main reason that carriers&rsquo; November transpacific GRIs (general rate increases) &ndash; which had pushed West Coast rates up by $1,000\/FEU this month to about $3,000\/FEU &ndash; have now fizzled,&rdquo; Levine said. Market intelligence group Linerlytica said the outlook for the rest of the year remains gloomy as TEU-mile (20-foot equivalent unit-mile) demand growth has slipped below the growth in vessel supply. &ldquo;Carriers&rsquo; reluctance to withdraw capacity during the slack winter season has hurt freight rates across key routes with the transpacific rates facing the greatest stress,&rdquo; Linerlytica said. Container ships and costs for shipping containers are relevant to the chemical industry because while most chemicals are liquids and are shipped in tankers, container ships transport polymers &ndash; such as polyethylene (PE) and polypropylene (PP), which are shipped in pellets. Titanium dioxide (TiO2) is also shipped in containers. They also transport liquid chemicals in isotanks. LIQUID TANKER RATES TO BRAZIL SURGE US chemical tanker trade lanes were overall unchanged this week for most routes, while vessel demand continues to remain soft. Overall, the spot market was quiet due to a holiday shortened trading week. One exception is rates for the USG to Brazil trade as they perk up and as interest to this region remains steady, supported by steady COA (contract of affreightment) volumes. &nbsp;Space is becoming very tight until the end of the year, keeping rates firm in this direction. USG to ARA remains muted for spot and solid for contractual cargoes and as CPP (clean petroleum products) tonnage continues to participate in the chemical sector. The market to this region has had a few new inquiries, but COA volumes have increased, supporting the trade lane. If it persists, it could continue to pressure the market even further. For the USG to Asia, there seems to be limited available space as COA volumes remain strong. Due to the lack of any new spot fixtures rates remain unchanged. Although, if this should persist, rates could be pressured upward. There seems to be interest in December for the usual parcels of glycol, methanol, and ethanol. Bunker prices remain lower mainly due to the continued plunge in energy prices week on week. Additional reporting by Kevin Callahan Visit the&nbsp;US tariffs, policy &ndash; impact on chemicals and energy&nbsp;topic page Visit the&nbsp;Logistics: Impact on chemicals and energy&nbsp;topic page<\/span><\/span><\/p>\n\n26-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/26\/11159458\/podcast-use-scenario-planning-to-estimate-china-impact-on-chemicals\">PODCAST: Use scenario planning to estimate China impact on chemicals<\/a><\/span><\/span><\/h3>\n\nBARCELONA (ICIS)&ndash;China has a huge impact on the global chemical industry in terms of supply and demand so analysis of demographic and economic trends is important for business leaders. Huge variation in forecasts for changes in population Chemicals demand growth scenario planning is vital Must take into account China&rsquo;s success in technology and exports Demand boost if export earnings are funnelled back into pension and healthcare reforms ICIS base case 2025-2050 sees 2% polyolefins demand growth per annum, down from 10% between 1992 and 2024 More container traffic may return to the Suez Canal if ceasefire holds In this Think Tank podcast, Will Beacham interviews&nbsp;John Richardson from the ICIS market development team. Editor&rsquo;s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS. ICIS is organising regular updates to help the industry understand current market trends. Register here . Read the latest issue of&nbsp;ICIS Chemical Business. Read Paul Hodges and John Richardson&#39;s ICIS blogs.<\/span><\/span><\/p>\n\n26-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/26\/11159358\/s-korea-lotte-chemical-hd-hyundai-chemical-to-merge-daesan-complex-assets\">S Korea Lotte Chemical, HD Hyundai Chemical to merge Daesan complex assets<\/a><\/span><\/span><\/h3>\n\nSINGAPORE (ICIS)&ndash;HD Hyundai Chemical and its joint venture (JV) owners HD Hyundai Oilbank and Lotte Chemical have agreed to consolidate their naphtha cracker center (NCC) facilities, the firms said in separate regulatory filings on Wednesday. The companies have submitted a business restructuring plan application to the Ministry of Trade, Industry and Energy (MOTIE) for approval, they said. Lotte will transfer its Daesan facilities to a company under HD Hyundai Chemical, which will contribute cash to create a 50:50 JV. Currently, HD Hyundai Oilbank holds 60% of HD Hyundai Chemical&rsquo;s equity, while Lotte Chemical holds 40%. &ldquo;Following the merger, the consolidation of petrochemical production functions within the Daesan Industrial Complex is expected to enhance the consistency and operational stability of production processes, thereby strengthening the overall effectiveness of the restructuring initiative,&rdquo; the firms said. Government support may vary depending on the results of MOTIE&rsquo;s review process, Lotte Chemical added. According to Korean newspaper The Chosun Daily, Lotte Chemical plans to shut its 1.1 million tonnes\/year cracker at Daesan, as part of the restructuring plan, leaving HD Hyundai Chemical&rsquo;s 850,000 tonnes\/year cracker in Daesan in operation. This will cut total ethylene output at the complex by around 23%, it reported quoting company officials. NEED FOR YEOSU TO RESTRUCTUREDuring a visit to Yeosu on Wednesday, Minister of Trade and Industry Kim Jung-kwan warned that the end-of-year deadline for restructuring plans to be submitted was approaching, following which petrochemical firms would be denied government support. &quot;The deadline for submitting business restructuring plans, announced by the government in August, is the end of December, and there are no plans to extend this deadline,&rdquo; Kim said. In August, 10 petrochemical firms &ndash; LG Chem, Lotte Chemical, SK geo centric, Hanwha TotalEnergies Petrochemical, Korea Petrochemical, Hanwha Solutions, DL Chemical, GS Caltex, HD Hyundai Chemical and S-Oil &ndash; agreed to&nbsp;cut&nbsp;their overall annual naphtha cracking capacity by up to 3.7 million tonnes. Kim emphasized that restructuring at Yeosu, which is South Korea&rsquo;s largest petrochemical complex, is critical if the petrochemical industry is to survive, and if&nbsp; firms at Yeosu follow behind Daesan&rsquo;s restructuring plans promptly, it could ensure the overall industry&#39;s survival. LG Chem, Lotte Chemical, GS Caltex and Hanwha Solutions are among the firms considering restructuring plans at Yeosu. Due to downturns in petrochemical and steel sectors harming local economies, the government has labeled Yeosu and Seosan &ndash; home to Daesan &ndash; as industrial crisis zones. Upon submission, restructuring plans will be reviewed for detail and self-help viability, with approvals followed by tailored support packages from the government. Soon, the government will also release a roadmap for shifting to high-value specialty chemicals, including priority R&amp;D funding for participating firms. (Recasts lead, paragraphs 7-8 for clarity) Thumbnail image: South Korea Busan Port &ndash; 7 March 2023 (Source: CHINE NOUVELLE\/SIPA\/Shutterstock)<\/span><\/span><\/p>\n\n26-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/25\/11159033\/opposition-to-up-ns-rail-merger-grows-as-60-industry-groups-urge-regulator-to-block-deal\">Opposition to UP-NS rail merger grows as 60 industry groups urge regulator to block deal<\/a><\/span><\/span><\/h3>\n\nHOUSTON (ICIS)&ndash;Opposition to a proposed merger between Class 1 railroads Union Pacific (UP) and Norfolk Southern (NS) continues to mount after a letter from 60 industry groups urged the federal regulator to thoroughly scrutinize the deal. The group consists of trade associations, chambers of commerce and businesses representing vital sectors of the economy who worry that the merger offers the potential for widespread economic harm. &ldquo;Reliable and affordable freight rail service is essential to maintaining US manufacturing strength, supporting energy security and ensuring reliable supply chains,&rdquo; the group said. &ldquo;Given the potential for widespread economic harm, it is essential that the Surface Transportation Board (STB) proceed with great care,&rdquo; the group said. &ldquo;The creation of a transcontinental railroad must not come at the expense of competition, service reliability or the broader health of the US supply chain.&rdquo; The letter was sent as the American Chemistry Council (ACC), which also opposes the merger, said the railroads are getting closer to submitting the merger application to the STB. When the deal was announced in late July, UP and NS executives said it would take up to six months to file the application with STB, which will then begin its 16-month review process. Executives said they expect the deal to close in early 2027. This letter follows several others from various groups who all oppose the deal for similar reasons &ndash; fear that the merger would lead to fewer railroads and thus fewer transportation options. &ldquo;History has shown that increased rail consolidation leads to fewer choices, higher transportation costs, service disruptions and reduced economic competitiveness,&rdquo; the group of 60 said. UP-NS MERGER BENEFITS UP and NS executives believe that the deal will improve service for its customers. UP CEO Jim Vena and NS president and CEO Mark George said when making the announcement that the combined network will span more than 50,000 miles across 43 states, serving 10 international gateways with Mexico and Canada and will operate from 100 ports, as shown in the following map. Railroad executives said the merger will improve single-line service, address underserved areas like the Ohio Valley and the Mississippi River watershed, and enhance competition. Customers of the combined railroad will benefit from faster transit times, increased reliability and improved customer asset utilization, the executives said. In the US, chemical rail car loadings represent about 20% of chemical transportation by tonnage, with trucks, barges and pipelines carrying the rest. Chemicals are generally shipped in tank cars (liquids and liquefied gases), hopper cars (dry commodities); and some boxcars (dry bulk or packaged chemical products). Visit the&nbsp;Logistics: Impact on chemicals and energy&nbsp;topic page<\/span><\/span><\/p>\n\n25-Nov-2025<\/span><\/span><\/p>\n\n<h3><a href=\"https:\/\/www.icis.com\/explore\/resources\/news\/2025\/11\/25\/11159015\/insight-cop30-ends-in-acrimony-as-fossil-fuel-roadmap-collapses-financing-falls-short-part-1\">INSIGHT: COP30 ends in acrimony as fossil fuel roadmap collapses, financing falls short (part 1)<\/a><\/span><\/span><\/h3>\n\nSAO PAULO (ICIS)&ndash;The UN&rsquo;s climate summit COP30 held in Bel&eacute;m ended with the nearly 200 countries taking part unable to agree &ndash; once again &ndash; on a roadmap to phase out fossil fuels, while rich nations keep falling short of the financing needed to help developing countries to cope with rising temperatures. COP30 in the Amazonian city of Bel&eacute;m was meant to accelerate the transition away from oil, coal and gas following the historic pledge made at COP28 in Dubai two years ago. Instead, the final eight-page communiqu&eacute; avoided any explicit reference to the words &quot;fossil fuels,&quot; marking what many delegates and climate activists described as a devastating setback in the fight against global warming. &quot;We needed to show society that we want this without imposing anything on anyone,&quot; Brazilian President Luiz In&aacute;cio Lula da Silva said. &quot;But we are serious &ndash; we need to reduce greenhouse gas emissions. We need to start thinking about how to live without fossil fuels.&quot; The summit&#39;s collapse came as global emissions from fossil fuels hit record levels in 2025, with climate scientists warning the world is on track for 2.6 to 3.1 degrees Celsius of warming by 2100 &ndash; far beyond the 1.5C target set in the 2015 Paris Agreement. This is the first part of this Insight article. The second part to be published on Wednesday (26 November) will verse about Latin America&rsquo;s specific policies and fossil fuels positionings, focusing in Brazil, Mexico and Colombia. FOSSIL FUEL ROADMAP DERAILEDMore than 80 countries, including Colombia, the UK, Germany and Kenya, had backed a formal roadmap to transition away from fossil fuels. France, Colombia, Germany and Kenya led the diplomatic effort, aiming to build a coalition of 100 nations from the nearly 200 delegations present. The EU proposed a flexible, &quot;non-prescriptive&quot; framework that would not oblige members to follow any particular path. &quot;Our priority for the coming days is to broaden this coalition, to speak to all the countries that believe we need to move forward and accelerate on this issue,&quot; a source from the French delegation said. But fierce opposition from major oil-producing states, led by Saudi Arabia, and an estimated 70 countries ultimately blocked the initiative. The strong language to &quot;phase out fossil fuels&quot; adopted in Dubai in 2023 did not reappear in the final text. In a weak compromise, COP30 President Andre Correa do Lago promised to create a roadmap over the next year, but outside the framework of the formal COP summit process rather than formally adopting it at this summit. Brazilian Environment Minister Marina Silva had expressed support for a roadmap &quot;because it lays the foundation for a fair and planned transition&quot; away from polluting fuels, while German state-secretary for climate action Jochen Flasbarth said his country would support any roadmap decision. &quot;We need an actionable outcome, not another roadmap to nowhere,&quot; Jasper Inventor, deputy program director at Greenpeace International, said in a statement. RECORD FOSSIL FUEL LOBBY PRESENCEThe push for a fossil fuel roadmap was undermined by an unprecedented concentration of industry representatives at the summit. An estimated 1,602 delegates with links to oil, coal and gas attended COP30, including representatives of energy majors ExxonMobil, Shell and TotalEnergies, as well as state-owned oil firms, according to analysis from Kick Big Polluters Out, a coalition of 450 organizations. One in every 25 participants at the conference was tied to the oil and gas sector, the highest concentration ever at UN climate talks. The lobbyists outnumbered the delegations of every country except Brazil and had two-thirds more conference passes than the 10 most climate-vulnerable countries combined. This figure has risen sharply from 500 attendees with fossil fuel ties at the Glasgow COP summit five years ago. At least 600 lobbyists held special party overflow badges, allowing them to remain in closed negotiation rooms without speaking rights. France&#39;s delegation of 449 included at least 22 people linked to the fossil fuels sector, including five TotalEnergies executives, among them CEO Patrick Pouyanne. &quot;It is clear we cannot solve a problem by giving power to those who caused it,&quot; said Jax Bongon, from IBON International in the Philippines. &quot;Yet 30 years and 30 COP summits later, more than 1,500 fossil fuel lobbyists walk through the climate negotiations as if nothing had happened.&quot; In a letter dated 1 October, 225 environmental organizations urged the COP30 presidency to stop inviting major polluters into the talks, arguing that &quot;big polluters should not have access to climate policy making&quot; and that allowing industry representatives lets them &quot;continue to influence and undermine the international response.&quot; TotalEnergies&#39; CEO Pouyann&eacute; expressed skepticism about a roadmap, calling it a &quot;European vision&quot; and suggesting more government regulation was not the answer. Speaking to Germany&rsquo;s DW news, he said he was not in Belem as a lobbyist and had been invited to COP30. TotalEnergies was found guilty two weeks ago by a French court of misleading commercial practices over claims it could reach carbon neutrality by 2050 while increasing oil and gas production. US ABSENCE CASTS SHADOWThe absence of the US, whose President is a climate change denier and for the second time withdrew his country from climate accords, cast a long shadow over the proceedings. The White House sent no representatives to Bel&eacute;m, and the US Energy Secretary Chris Wright went as far as condemning COP30 as &quot;harmful and misguided&rdquo; because it does not improve humanity&rsquo;s prospects, in his view. &quot;It&#39;s essentially a hoax. It&#39;s not an honest organization looking to better human lives,&rdquo; he said, defying global scientific consensus on climate change. He added he might attend next year&#39;s summit &quot;just to try to deliver some&rdquo; common sense. China, as the world&#39;s biggest emitter of greenhouse gases and the emerging leader in green energy technology, also played a muted role at the event. CLIMATE FINANCE FALLS SHORTDeep fractures over climate finance exposed a widening gulf between developed and developing nations. Rich countries committed to triple &quot;adaptation finance&quot; by 2035 &ndash; roughly $120 billion of the $300 billion climate finance goal will now be dedicated to adaptation measures in the most vulnerable countries. However, the timeline extends five years longer than what developing nations say is needed, and the overall amount falls far short of the hundreds of billions demanded by poorer countries facing the worst impacts of climate change. &quot;We&#39;re not looking at any increases in adaptation finance,&quot; Irish climate minister Darragh O&#39;Brien said. Pakistan&#39;s Aisha Humera Moriani said it was &quot;extremely important that we find something on the operationalization of that $300 billion.&quot; Island state nations are increasingly panicking as they face the now almost certain prospect of their countries disappearing under the waves. The group called Small Island Developing States joined the coalition pushing for the fossil fuel roadmap, but their voices were drowned out by larger economies with fossil fuel interests. Brazil&#39;s development bank BNDES and the environment ministry secured Brazilian reais (R) 8.84 billion ($1.67 billion) in reimbursable commitments for the Climate Fund during the summit, the bank said. Germany&#39;s KfW, France&#39;s Agence Fran&ccedil;aise de D&eacute;veloppement and Italy&#39;s Cassa Depositi e Prestiti agreed to provide &euro;1 billion by 2027, while the Inter-American Development Bank will supply a further $500 million over the same period. DEFORESTATION FUND DISAPPOINTSOne of Brazil&rsquo;s star proposals was the so-called Tropical Forests Forever Facility (TFFF), which was established to support rainforest conservation worldwide, but the commitments fell far short of the tens of billions Brazil was hoping for. Six nations committed approximately $5.5 billion. Norway pledged $3 billion over 10 years, Brazil and Indonesia each committed $1 billion, France indicated up to &euro;500 million through 2030 subject to conditions, Portugal committed $1 million, and the Netherlands allocated $5 million for administrative costs, according to official statements. The TFFF targets $25 billion in public capital and $100 billion from private investors to generate approximately $4 billion annually for tropical forest nations maintaining deforestation rates below global averages. The World Bank will administer the blended-finance mechanism, which guarantees at least 20% of proceeds to indigenous peoples and local communities. Colombia qualifies amongst 74 eligible nations covering approximately 1 billion hectares of tropical forest, provided it maintains deforestation metrics below the worldwide mean. The UK may reconsider participation in the facility following its annual budget to be approved this week, despite initially declining to join the $125 billion conservation mechanism. Germany endorsed the facility without specifying its financial contribution, with officials indicating the amount would be determined during discussions between President Lula and Chancellor Friedrich Merz, according to Brazil&#39;s Foreign Ministry. Norway in particular has tied its contribution to a commitment by more countries also joining the initiative. BNDES and the environment ministry also announced five credit operations totaling R912 million for projects to restore native vegetation in the Amazon, the Cerrado and the Atlantic Forest. Private companies working on land recovery and sustainable farming will restore more than 86,000 hectares, though the bank did not specify timelines. Brazil is at the epicenter of global deforestation, accounting for 60% of global forests. According to data from the World Resources Institute&#39;s Global Forest Watch, the world lost over 26 million hectares of primary tropical forest between 2015 and 2023. Of this, more than one-third &ndash; approximately 9.3 million hectares &ndash; occurred in Brazil alone. Increased logging, mining, cattle ranching and soy production is to blame. The Amazon region is nearing a &quot;tipping point&quot; at which forest loss could become irreversible, according to a 2022 study published in Nature Climate Change. Since taking office in January 2023, President Lula has introduced measures to combat illegal deforestation, but his government recently approved oil exploration at the mouth of the Amazon river, an environmentally sensitive area. BRAZIL&#39;S CONTRADICTORY STANCEThe host nation&#39;s position reflected the summit&#39;s central tensions. President Lula, who has positioned himself as a climate advocate, urged world leaders to end fossil fuel dependence even as his government approved new oil projects. Brazil&#39;s first lady, Janja Lula da Silva, articulated the government&#39;s pragmatic stance during a panel in the federal government pavilion. &quot;We can&#39;t believe that next week, as soon as COP ends, we&#39;re going to stop using fossil fuels. That&#39;s not a reality yet. We need to build a roadmap. And the Brazilian government, President Lula, is making this proposal, and we have been talking about it very intensely,&quot; she said. Lula stated at the end of October that Brazil &quot;will not throw away&quot; the wealth generated by oil and announced during the COP30 Leaders&#39; Summit the creation of a specific fund to allocate part of oil exploration profits to renewable energy investment. FROM PREVENTION TO ADAPTATIONPerhaps the most significant shift at COP30 was the change in focus from prevention to adaptation. The hallmark of the 2015 Paris summit was the adoption of a concrete plan to prevent temperatures from rising above 1.5C above the pre-industrial benchmark. COP30 in effect was an admission that goal has failed and going forward the work will be all about mitigating the damage that is going to be caused. After temperatures last year were over 1.5C above the pre-industrial benchmark in every month of the year, the climate crisis is already here. The UN&#39;s Intergovernmental Panel on Climate Change says the effort to hold temperature increases to 1.5C has already failed and the planet is on course to see temperatures increase to a catastrophic 2.7C to 3.1C that lead to unpredictable results and positive feedback loops that could lead to runaway warming. The climate crisis is accelerating, and temperatures are rising faster than even the most pessimistic models set up by the IPCC. When former German Chancellor Angela Merkel met Putin in Moscow in 2018 to negotiate energy deals, she told him that the EU would have completely phased out gas use by 2025. Amongst other things, the AI revolution has completely changed the energy calculus and demand for power is set to accelerate at an extraordinary rate. Already worsening storms, floods, droughts and fires pose huge risks, especially to developing countries and small island states. The summer in the northern hemisphere this year was marked by the strongest hurricanes ever seen in the Caribbean that ripped through Jamaica. As the event came to an end, the Iranian government announced Tehran must be evacuated and abandoned as it has run out of water and is no longer viable as a city for human life. PATTERN OF FAILURECOP30 follows a pattern of failure at recent climate summits. The UAE&#39;s COP28 was criticized after the oil-rich Arab state used the event to sign oil and gas deals on the sidelines, and Azerbaijan&#39;s COP29 made only a lukewarm attempt to get major fossil fuel countries to even talk about the issues. &quot;This was a challenging summit, with many countries saying opinions are more divided now than for a long time, as global leaders including US President Donald Trump challenge the global consensus on tackling climate change,&quot; officials said in closing remarks. After Lula failed to broker a climate deal at the conference early on 19 November, he tried to sound optimistic, telling reporters: &quot;I am so happy that I leave here certain that my negotiators will have the best result a COP could have ever offered to Planet Earth.&quot; But Johan Rockstr&ouml;m, director of the Potsdam Institute for Climate Impact Research in Germany, told DW ahead of COP30 that the summit included &quot;so many strong voices that want to avoid the elephant in the room&quot; &ndash; fossil fuels. Advances on other major COP30 issues such as forest protection or adaptation finance &quot;can only be celebrated if we also see progress&quot; on the phase-out of fossil fuels, concluded Rockstr&ouml;m. COP31 is to take place in Turkey but co-hosted by Australia where some high-level meetings are set to take place. The same divisions will likely persist between oil-oriented countries and those seeking to diminish reliance on fossil fuels, and those that are divided &ndash; such as Brazil, Latin America&#39;s main oil producer and also a would-be climate leader. The second part of this Insight article to be published on Wednesday will verse about Brazil&rsquo;s contradictions as well as two other Latin American oil producing countries which are adopting diverging policies: Colombia and Mexico. Front page picture source: COP30 press services Insight article by Jonathan Lopez<\/span><\/span><\/p>\n\n25-Nov-2025<\/span><\/span><\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n\n<section>&nbsp;<\/section>\n\n&nbsp;<\/p>\n","content":"<meta charset=\"UTF-8\" \/><\/p>\n\nMexico&rsquo;s Braskem Idesa on &lsquo;restricted default&rsquo; after unpaid interest coupon &ndash; Fitch<\/strong><\/span><\/p>\n\nJonathan Lopez<\/p>\n\n27-Nov-2025<\/p>\n\n&nbsp;<\/p>\n\nSAO PAULO (ICIS)&ndash;Fitch Ratings has downgraded a portion of Mexican polyethylene (PE) producer Braskem Idesa&rsquo;s debt obligations to the &ldquo;restricted default&rdquo; (RD) credit rating after the company was unable to pay interest on one of its bonds.<\/p>\n\nThe&nbsp;<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111157490\">missed coupon payment<\/a>&nbsp;was for a bond maturing in 2029 and was due last week. After a five-day grace period, the producer did not manage to find the cash to fulfill its obligation.<\/p>\n\nAccording to Fitch&rsquo;s methodology, an RD rating applies to an issuer that has an uncured payment default &ndash; the 2029 bond&rsquo;s coupon &ndash; but has not filed for bankruptcy or ceased operations. Moreover, the agency kept some debt obligations under the C rating it gave them last week.<\/p>\n\n&ldquo;Braskem Idesa skipped an interest payment due on 18 November on its $900 million senior secured notes &hellip; The rating [RD] action follows the company&rsquo;s failure to cure the missed interest payment &hellip; during the company&rsquo;s ongoing negotiations with creditors,&rdquo; said Fitch.<\/p>\n\n&ldquo;Possible debt restructuring:&nbsp;Braskem Idesa announced on 8 September that it had hired a financial advisor to evaluate financial alternatives for its strained liquidity and capital structure. The company may enter a debt restructuring process in the near to medium term.&rdquo;<\/p>\n\nThe downgrade to RD is the third rating action taken by Fitch in the past two weeks. First, the agency downgraded Braskem Idesa&rsquo;s rating from CCC+ to CC, down from &lsquo;CCC+, then further downgraded it again C once it entered the contractual grace period.<\/p>\n\nAll ratings fall under the category of &lsquo;non-investment grade&rsquo; debt, also referred to as junk debt. Fitch&rsquo;s rating scale has 11 notches &ndash; from AAA to D (default). See the agency&rsquo;s rating scale&nbsp;<a href=\"https:\/\/your.fitch.group\/rating-definitions.html\">here<\/a>.<\/p>\n\nBraskem Idesa is a joint venture between Brazil&rsquo;s polymers major Braskem &ndash; which holds a 75% stake &ndash; and Mexico&rsquo;s Grupo Idesa.<\/p>\n\nIt operates a 1.05 million tonne\/year polyethylene (PE) plant in Coatzacoalcos, in the Mexican state of Veracruz.<\/p>\n\nBraskem Idesa and Braskem had not responded to a request for comment at the time of writing.<\/p>\n\nMEXICAN WOES, BRAZILIAN WOES<\/strong> \nThe financial woes at Braskem Idesa could end up with parent company Braskem&rsquo;s&nbsp;<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111158592\">controlling stake being diluted<\/a>&nbsp;as it tries to negotiate with an ad-hoc group of bondholders to achieve a sustainable capital structure and preserve operations for the Mexican subsidiary, said analysts at investment bank BTG Pactual earlier this week.<\/p>\n\nBTG Pactual identified two primary dilution scenarios. Grupo Idesa could increase its 25% stake or, bondholders could convert debt into equity, which could significantly alter the ownership structure, given Braskem Idesa&rsquo;s $2.2 billion total debt.<\/p>\n\n&ldquo;With Braskem Idesa holding $46 million in cash as of Q3 2025, it was widely expected that the company would have difficulties meeting its coupon payments in the short term,&rdquo; BTG Pactual said.<\/p>\n\nIn this week&rsquo;s credit rating action, Fitch conducted a recovery analysis assuming a liquidation approach to valuation, with Braskem Idesa&rsquo;s inventory ciphered at Mexican pesos (Ps) 1.7 billion ($93 million) valued at 50% and property, plant, and equipment of Ps29.4 billion valued at 50%, yielding total liquidation value of Ps31.2 billion with a 10% administrative claim.<\/p>\n\nIf Braskem Idesa filed for bankruptcy protection, Fitch would downgrade its rating to D but will hold on for now as it reassess ratings after completion of any debt restructuring to reflect the new capital structure, the agency said.<\/p>\n\nFitch expects the Mexican producer&rsquo;s leverage ratio to reach 22.4 times (22.4x) debt to earnings before interest, taxes, depreciation, and amortization (EBITDA) at year-end, far exceeding parent company Braskem&rsquo;s ratio above 10x. A leverage ratio of 3.0x or below is considered financially sound.<\/p>\n\nThe crisis compounds challenges for Braskem, which is also&nbsp;<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111150171\">facing financial difficulties<\/a>&nbsp;while undergoing a potential control change to investment fund IG4 Capital, which reportedly could be announced imminently.<\/p>\n\n($1 = Ps18.34)<\/p>\n\nFront page picture: Braskem Idesa&rsquo;s production facilities in Coatzacoalcos \nSource: Braskem Idesa<\/em><\/p>\n\n<meta charset=\"UTF-8\" \/><\/p>\n\n&nbsp;<\/p>\n\n<h1>Wacker Chemie to cut 1,500 jobs globally in &euro;300 million\/year cost-saving project<\/h1>\n\nGraeme Paterson<\/p>\n\n27-Nov-2025<meta charset=\"UTF-8\" \/><\/p>\n\nLONDON (ICIS)&ndash;Wacker Chemie is to cut more than 1,500 jobs worldwide as part of a &euro;300 million per year cost-saving target, it said on Thursday.<\/p>\n\nMost of the job cuts will be at the group&rsquo;s sites in Germany as the company aims to make significant savings in production and administration.<\/p>\n\nThe project, which was launched in October under the name of PACE, will start in the first quarter of 2026 and is expected to be completed by the end of 2027.<\/p>\n\n&ldquo;We are currently working on measures to achieve our cost-saving targets,&rdquo; said Wacker president and CEO Christian Hartel.<\/p>\n\n&ldquo;The aim is to reduce our costs to a competitive level through savings. This will put Wacker back on the road to success.&rdquo;<\/p>\n\nHartel added that high energy prices and bureaucratic obstacles in Germany were continuing to hamper development of the chemical industry.<\/p>\n\nThe specialty chemicals producer lowered full-year guidance in its&nbsp;<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111150458\">third-quarter earnings<\/a>&nbsp;as weak global demand and lower selling prices caused it to swing to a net loss.<\/p>\n\n&nbsp;<\/p>\n\n<h1>China Oct industrial profits fall 5.5% after Sep double-digit growth<\/h1>\n\nJonathan Yee<\/p>\n\n27-Nov-2025<\/p>\n\n<section><meta charset=\"UTF-8\" \/>\nSINGAPORE (ICIS)&ndash;Profits generated by Chinese industrial firms fell 5.5% on year in October, data from the National Bureau of Statistics (NBS) showed on Thursday.<\/p>\n\nFactors for the contraction include a higher base in the same period last year as well as a rapid growth in financial expenses, said NBS statistician Yu Weining.<\/p>\n\nDevelopment in new quality productivity in traditional industries has shown initial success, with profits in bio-based chemical fiber manufacturing increasing 61.2% between January-October, while recycled rubber manufacturing profits grew by 15.4% during the same period.<\/p>\n\nGrowth on industrial profits in January-October stood at 1.9%.<\/p>\n\nCoordinated policy measures will aim to bolster domestic demand and advance new growth drivers, Yu said.<\/p>\n\n<h1>Aster Chemicals to double C2 export capacity in Singapore<\/strong><\/h1>\n\nJonathan Yee<\/p>\n\n27-Nov-2025<\/p>\n\n<meta charset=\"UTF-8\" \/><\/p>\n\nSINGAPORE (ICIS)&ndash;Aster Chemicals and Energy (Aster) has ordered advanced compressor solutions from Japanese firm Hitachi Asia Ltd (Hitachi) that will double the Singapore-based firm&rsquo;s ethylene (C2) export capacity on Bukom Island.<\/p>\n\nHitachi will deliver two new compressor units for scheduled delivery in January 2027, which will be used to install a parallel C2 chiller system, Aster said in a statement on Thursday.<\/p>\n\n&ldquo;The project will also deepen synergy between Bukom and the Chandra Asri cracker facility on Cilegon, unlocking further integration and optimisation across the regional C2 derivatives value chain,&rdquo; Aster said.<\/p>\n\n<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111088918\" rel=\"noreferrer noopener\" target=\"_blank\">Aster<\/a>, a joint venture between Indonesia&rsquo;s Chandra Asri and global commodities trader Glencore, owns a refinery with a capacity of 237,000 barrels\/day alongside a 1.1 million tonne\/year naphtha cracker on Bukom Island.<\/p>\n\nIt further has 2.5 million tonnes\/year of downstream chemical assets on Jurong Island.<\/p>\n\n<meta charset=\"UTF-8\" \/><\/p>\n\n&nbsp;<\/p>\n\n<h1>India&rsquo;s GNFC plans 163,000 tonne\/year ammonium nitrate plant<\/strong><\/span><\/h1>\n\nPriya Jestin<\/p>\n\n27-Nov-2025<\/p>\n\n<section><meta charset=\"UTF-8\" \/>\nMUMBAI (ICIS)&ndash;India&rsquo;s Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) plans to set up a 163,000 tonne\/year ammonium nitrate (AN) melt project for Indian rupees (Rs) 4.5 billion ($50 million) at its complex at Bharuch in the western Gujarat state, a company source said on Thursday.<\/p>\n\nThe new plant, which will almost double the company&rsquo;s AN melt capacity to 338,000 tonnes\/year is expected to commence operations by July 2027.<\/p>\n\nThe company already operates a 175,000 tonne\/year AN melt plant at its Bharuch complex.<\/p>\n\n&ldquo;This project is a downstream project. The upstream projects for this were approved last year,&rdquo; the source said, adding that work is ongoing to increase the company&rsquo;s ammonia and nitric acid capacities.<\/p>\n\nThe company is currently in the process of setting up a 200,000 tonne\/year weak nitric acid (WNA) plant and is increasing its ammonia capacity by 50,000 tonnes\/year at its Bharuch complex.<\/p>\n\nGNFC can currently produce 347,000 tonnes\/year of WNA and 445,500 tonnes\/year of ammonia at its Bharuch complex as per the company website.<\/p>\n\nSeparately, the company is also exploring the possibility of building a 150,000 tonne\/year bisphenol A (BPA) plant and a 100,000 tonne\/year polyols unit, the company source said.<\/p>\n\nGNFC is currently conducting market surveys and feasibility studies for the two projects, he added.<\/p>\n\n($1= Rs89.23)<\/p>\n\n&nbsp;<\/p>\n\n<main id=\"primary\">\n<article id=\"post-15354\">\n<section>\n<h1>Asia-US container rates fall as capacity continues to outweigh demand<\/strong><\/span><\/span><\/h1>\n\nAdam Yanelli<\/p>\n\n26-Nov-2025<\/p>\n<\/section>\n<\/article>\n<\/main>\n<\/section>\n\n<section><meta charset=\"UTF-8\" \/>\nHOUSTON (ICIS)&ndash;Rates for shipping containers from east Asia and China to the US fell significantly week on week as available capacity continues to outstrip demand, according to shipping analysts.<\/p>\n\nRates from global logistics company Freight Right on its TrueFreight Index (TFX) experienced significant weekly decreases, as shown in the following chart.<\/p>\n\n<img alt=\"\" data-eio-rheight=\"397\" data-eio-rwidth=\"925\" data-ot-ignore=\"\" data-src=\"https:\/\/www.icis.com\/assets\/getAsset.aspx?ItemID=1073166\" decoding=\"async\" height=\"397\" loading=\"lazy\" src=\"https:\/\/www.icis.com\/assets\/getAsset.aspx?ItemID=1073166\" width=\"925\" \/><\/p>\n\nRobert Khachatryan, founder and CEO of Freight Right Logistics, said spot rates to the West Coast continued their rapid decline this week, now falling to the $1,350-1,500\/FEU (40-foot equivalent unit) range, with some carrier-specific lows touching $1,350\/FEU.<\/p>\n\n&ldquo;This marks the fifth or sixth consecutive weekly drop, driven by slow demand and an extremely short holiday week in the US,&rdquo; Khachatryan said.<\/p>\n\nRates to the East Coast also fell, now averaging about $1,900\/FEU, shrinking the typical spread between West and East Coast from $800-900\/FEU to just $600-700\/FEU.<\/p>\n\n&ldquo;Both lanes are effectively at or near their &lsquo;rock-bottom&rsquo; levels for the year,&rdquo; Khachatryan said. &ldquo;The market anticipated declines in late November, but not to this extreme, and not at month-end heading into December.&rdquo;<\/p>\n \n<meta charset=\"UTF-8\" \/>\nRates to the West Coast from online freight shipping marketplace and platform provider Freightos plunged by 32% from the previous week and fell by 8% to the East Coast.<\/p>\n\nJudah Levine, head of research at Freightos, said rates remain slightly above the low for the year, hit in early October.<\/p>\n\n&ldquo;The current overcapacity on the East-West lanes is the main reason that carriers&rsquo; November transpacific GRIs (general rate increases) &ndash; which had pushed West Coast rates up by $1,000\/FEU this month to about $3,000\/FEU &ndash; have now fizzled,&rdquo; Levine said.<\/p>\n\nMarket intelligence group Linerlytica said the outlook for the rest of the year remains gloomy as TEU-mile (20-foot equivalent unit-mile) demand growth has slipped below the growth in vessel supply.<\/p>\n\n&ldquo;Carriers&rsquo; reluctance to withdraw capacity during the slack winter season has hurt freight rates across key routes with the transpacific rates facing the greatest stress,&rdquo; Linerlytica said.<\/p>\n\nContainer ships and costs for shipping containers are relevant to the chemical industry because while most chemicals are liquids and are shipped in tankers, container ships transport polymers &ndash; such as polyethylene (PE) and polypropylene (PP), which are shipped in pellets. Titanium dioxide (TiO2) is also shipped in containers.<\/p>\n\nThey also transport liquid chemicals in isotanks.<\/p>\n\nLIQUID TANKER RATES TO BRAZIL SURGE<\/strong> \nUS chemical tanker trade lanes were overall unchanged this week for most routes, while vessel demand continues to remain soft. Overall, the spot market was quiet due to a holiday shortened trading week.<\/p>\n\nOne exception is rates for the USG to Brazil trade as they perk up and as interest to this region remains steady, supported by steady COA (contract of affreightment) volumes. &nbsp;Space is becoming very tight until the end of the year, keeping rates firm in this direction.<\/p>\n\nUSG to ARA remains muted for spot and solid for contractual cargoes and as CPP (clean petroleum products) tonnage continues to participate in the chemical sector. The market to this region has had a few new inquiries, but COA volumes have increased, supporting the trade lane. If it persists, it could continue to pressure the market even further.<\/p>\n\nFor the USG to Asia, there seems to be limited available space as COA volumes remain strong. Due to the lack of any new spot fixtures rates remain unchanged. Although, if this should persist, rates could be pressured upward. There seems to be interest in December for the usual parcels of glycol, methanol, and ethanol.<\/p>\n\nBunker prices remain lower mainly due to the continued plunge in energy prices week on week.<\/p>\n\nAdditional reporting by&nbsp;Kevin Callahan<\/strong><\/em><\/p>\n\nVisit the&nbsp;<\/em><a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsubscriber.icis.com%2Fintelligence%2F1e18c969-8ff1-4928-892e-72d2b8af9230&amp;data=05%7C02%7CAdam.Yanelli%40Icis.com%7Cd3c2b3b92760478618cc08dd72a8b9c9%7C9274ee3f94254109a27f9fb15c10675d%7C0%7C0%7C638792791205040595%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=06Bd%2FV3qee0j1%2B0HX5c4bPDWOlJ8cwlZT0%2Bpus9S4To%3D&amp;reserved=0\">US tariffs, policy &ndash; impact on chemicals and energy<\/em><\/a>&nbsp;topic page<\/em><\/p>\n\nVisit the&nbsp;<\/em><a href=\"https:\/\/subscriber.icis.com\/intelligence\/73701837-5530-4e31-ac4e-646e203c3c48\">Logistics: Impact on chemicals and energy<\/em><\/a>&nbsp;topic page<\/em><\/p>\n\n&nbsp;<\/p>\n\n<h1>PODCAST: Use scenario planning to estimate China impact on chemicals<\/strong><\/span><\/h1>\n\nWill Beacham<\/p>\n\n26-Nov-2025<\/p>\n\n<section>\n<meta charset=\"UTF-8\" \/><\/p>\n\nBARCELONA (ICIS)&ndash;China has a huge impact on the global chemical industry in terms of supply and demand so analysis of demographic and economic trends is important for business leaders.<\/p>\n\n<ul>\n\t<li>Huge variation in forecasts for changes in population<\/li>\n\t<li>Chemicals demand growth scenario planning is vital<\/li>\n\t<li>Must take into account China&rsquo;s success in technology and exports<\/li>\n\t<li>Demand boost if export earnings are funnelled back into pension and healthcare reforms<\/li>\n\t<li>ICIS base case 2025-2050 sees 2% polyolefins demand growth per annum, down from 10% between 1992 and 2024<\/li>\n\t<li>More container traffic may return to the Suez Canal if ceasefire holds<\/li>\n<\/ul>\n\nIn this Think Tank podcast,&nbsp;Will Beacham<\/strong>&nbsp;interviews&nbsp;John Richardson<\/strong>&nbsp;from the ICIS market development team.<\/p>\n\n<a href=\"https:\/\/podomatic.com\/embed\/html5\/episode\/11015575\" target=\"_blank\">Click here to listen to the podcast<\/a>&nbsp;(https:\/\/podomatic.com\/embed\/html5\/episode\/11015575)&nbsp;<\/strong><\/p>\n\nEditor&rsquo;s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.<\/em><\/p>\n\nICIS is organising regular updates to help the industry understand current market trends.&nbsp;<a href=\"https:\/\/www.icis.com\/explore\/resources\/industry-updates?intcmp=carousel-link_Marketing_insight_Coronavirus#tab\" rel=\"noreferrer noopener\" target=\"_blank\">Register here<\/a>&nbsp;.<\/em><\/p>\n\nRead the latest issue of&nbsp;<a href=\"https:\/\/www.icis.com\/subscriber\/icb\/issue\/\" rel=\"noreferrer noopener\" target=\"_blank\">ICIS Chemical Business<\/a>.<\/p>\n\nRead Paul Hodges and John Richardson&rsquo;s&nbsp;<a href=\"https:\/\/www.icis.com\/explore\/blogs\/\" rel=\"noreferrer noopener\" target=\"_blank\">ICIS blogs<\/a>.<\/em><\/p>\n\n&nbsp;<\/p>\n\n<h1>S Korea Lotte Chemical, HD Hyundai Chemical to merge Daesan complex assets<\/strong><\/span><\/h1>\n\nJonathan Yee<\/p>\n\n26-Nov-2025<\/p>\n<\/section>\n\n&nbsp;<\/p>\n\n<meta charset=\"UTF-8\" \/><\/p>\n\nSINGAPORE (ICIS)&ndash;HD Hyundai Chemical and its joint venture (JV) owners HD Hyundai Oilbank and Lotte Chemical have agreed to consolidate their naphtha cracker center (NCC) facilities, the firms said in separate regulatory filings on Wednesday.<\/p>\n\nThe companies have submitted a business restructuring plan application to the Ministry of Trade, Industry and Energy (MOTIE) for approval, they said.<\/p>\n\nLotte will transfer its Daesan facilities to a company under HD Hyundai Chemical, which will contribute cash to create a 50:50 JV.<\/p>\n\nCurrently, HD Hyundai Oilbank holds 60% of HD Hyundai Chemical&rsquo;s equity, while Lotte Chemical holds 40%.<\/p>\n\n&ldquo;Following the merger, the consolidation of petrochemical production functions within the Daesan Industrial Complex is expected to enhance the consistency and operational stability of production processes, thereby strengthening the overall effectiveness of the restructuring initiative,&rdquo; the firms said.<\/p>\n\nGovernment support may vary depending on the results of MOTIE&rsquo;s review process, Lotte Chemical added.<\/p>\n\nAccording to Korean newspaper The Chosun Daily, Lotte Chemical plans to shut its 1.1 million tonnes\/year cracker at Daesan, as part of the restructuring plan, leaving HD Hyundai Chemical&rsquo;s 850,000 tonnes\/year cracker in Daesan in operation.<\/p>\n\nThis will cut total ethylene output at the complex by around 23%, it reported quoting company officials.<\/p>\n\nNEED FOR YEOSU TO RESTRUCTURE<\/strong> \nDuring a visit to Yeosu on Wednesday, Minister of Trade and Industry Kim Jung-kwan warned that the end-of-year deadline for restructuring plans to be submitted was approaching, following which petrochemical firms would be denied government support.<\/p>\n\n&ldquo;The deadline for submitting business restructuring plans, announced by the government in August, is the end of December, and there are no plans to extend this deadline,&rdquo; Kim said.<\/p>\n\nIn August, 10 petrochemical firms &ndash; LG Chem, Lotte Chemical, SK geo centric, Hanwha TotalEnergies Petrochemical, Korea Petrochemical, Hanwha Solutions, DL Chemical, GS Caltex, HD Hyundai Chemical and S-Oil &ndash; agreed to&nbsp;<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111130196\">cut<\/a>&nbsp;their overall annual naphtha cracking capacity by up to 3.7 million tonnes.<\/p>\n\nKim emphasized that restructuring at Yeosu, which is South Korea&rsquo;s largest petrochemical complex, is critical if the petrochemical industry is to survive, and if&nbsp; firms at Yeosu follow behind Daesan&rsquo;s restructuring plans promptly, it could ensure the overall industry&rsquo;s survival.<\/p>\n\nLG Chem, Lotte Chemical, GS Caltex and Hanwha Solutions are among the firms considering restructuring plans at Yeosu.<\/p>\n\nDue to downturns in petrochemical and steel sectors harming local economies, the government has labeled Yeosu and Seosan &ndash; home to Daesan &ndash; as industrial crisis zones.<\/p>\n\nUpon submission, restructuring plans will be reviewed for detail and self-help viability, with approvals followed by tailored support packages from the government.<\/p>\n\nSoon, the government will also release a roadmap for shifting to high-value specialty chemicals, including priority R&amp;D funding for participating firms.<\/p>\n\n(Recasts lead, paragraphs 7-8 for clarity)<\/p>\n\nThumbnail image: South Korea Busan Port &ndash; 7 March 2023 (Source: CHINE NOUVELLE\/SIPA\/Shutterstock)<\/em><\/p>\n\n&nbsp;<\/p>\n\n<h1>Opposition to UP-NS rail merger grows as 60 industry groups urge regulator to block deal<\/strong><\/span><\/h1>\n\nAdam Yanelli<\/p>\n\n25-Nov-2025<meta charset=\"UTF-8\" \/><\/p>\n\nHOUSTON (ICIS)&ndash;Opposition to a proposed merger between Class 1 railroads Union Pacific (UP) and Norfolk Southern (NS) continues to mount after a&nbsp;<a href=\"https:\/\/www.americanchemistry.com\/better-policy-regulation\/transportation-infrastructure\/rail\/resources\/trade-associations-letter-to-stb-on-proposed-merger\">letter<\/a>&nbsp;from 60 industry groups urged the federal regulator to thoroughly scrutinize the deal.<\/p>\n\nThe group consists of trade associations, chambers of commerce and businesses representing vital sectors of the economy who worry that the merger offers the potential for widespread economic harm.<\/p>\n\n&ldquo;Reliable and affordable freight rail service is essential to maintaining US manufacturing strength, supporting energy security and ensuring reliable supply chains,&rdquo; the group said.<\/p>\n\n&ldquo;Given the potential for widespread economic harm, it is essential that the Surface Transportation Board (STB) proceed with great care,&rdquo; the group said. &ldquo;The creation of a transcontinental railroad must not come at the expense of competition, service reliability or the broader health of the US supply chain.&rdquo;<\/p>\n\nThe letter was sent as the American Chemistry Council (ACC), which also opposes the merger, said the railroads are getting closer to submitting the merger application to the STB.<\/p>\n\nWhen the deal was announced in late July, UP and NS executives said it would take up to six months to file the application with STB, which will then begin its 16-month review process.<\/p>\n\nExecutives said they expect the deal to close in early 2027.<\/p>\n\nThis letter follows several&nbsp;<a href=\"https:\/\/subscriber.icis.com\/news\/petchem\/news-article-00111156664\" rel=\"noreferrer noopener\" target=\"_blank\">others<\/a>&nbsp;from various groups who all oppose the deal for similar reasons &ndash; fear that the merger would lead to fewer railroads and thus fewer transportation options.<\/p>\n\n&ldquo;History has shown that increased rail consolidation leads to fewer choices, higher transportation costs, service disruptions and reduced economic competitiveness,&rdquo; the group of 60 said.<\/p>\n\nUP-NS MERGER BENEFITS<\/strong> \nUP and NS executives believe that the deal will improve service for its customers.<\/p>\n\nUP CEO Jim Vena and NS president and CEO Mark George said when making the announcement that the combined network will span more than 50,000 miles across 43 states, serving 10 international gateways with Mexico and Canada and will operate from 100 ports, as shown in the following map.<\/p>\n\nRailroad executives said the merger will improve single-line service, address underserved areas like the Ohio Valley and the Mississippi River watershed, and enhance competition.<\/p>\n\nCustomers of the combined railroad will benefit from faster transit times, increased reliability and improved customer asset utilization, the executives said.<\/p>\n\nIn the US, chemical rail car loadings represent about 20% of chemical transportation by tonnage, with trucks, barges and pipelines carrying the rest.<\/p>\n\nChemicals are generally shipped in tank cars (liquids and liquefied gases), hopper cars (dry commodities); and some boxcars (dry bulk or packaged chemical products).<\/p>\n\nVisit the&nbsp;<a href=\"https:\/\/subscriber.icis.com\/intelligence\/73701837-5530-4e31-ac4e-646e203c3c48\">Logistics: Impact on chemicals and energy<\/a>&nbsp;topic page<\/em><\/p>\n\n&nbsp;<\/p>\n\n<h1>INSIGHT: COP30 ends in acrimony as fossil fuel roadmap collapses, financing falls short (part 1)<\/span><\/strong><\/h1>\n\nJonathan Lopez<\/p>\n\n25-Nov-2025<\/p>\n\n&nbsp;<\/p>\n\n<meta charset=\"UTF-8\" \/><\/p>\n\nSAO PAULO (ICIS)&ndash;The UN&rsquo;s climate summit COP30 held in Bel&eacute;m ended with the nearly 200 countries taking part unable to agree &ndash; once again &ndash; on a roadmap to phase out fossil fuels, while rich nations keep falling short of the financing needed to help developing countries to cope with rising temperatures.<\/p>\n\nCOP30 in the Amazonian city of Bel&eacute;m was meant to accelerate the transition away from oil, coal and gas following the historic pledge made at COP28 in Dubai two years ago.<\/p>\n\nInstead, the final eight-page communiqu&eacute; avoided any explicit reference to the words &ldquo;fossil fuels,&rdquo; marking what many delegates and climate activists described as a devastating setback in the fight against global warming.<\/p>\n\n&ldquo;We needed to show society that we want this without imposing anything on anyone,&rdquo; Brazilian President Luiz In&aacute;cio Lula da Silva said.<\/p>\n\n&ldquo;But we are serious &ndash; we need to reduce greenhouse gas emissions. We need to start thinking about how to live without fossil fuels.&rdquo;<\/p>\n\nThe summit&rsquo;s collapse came as global emissions from fossil fuels hit record levels in 2025, with climate scientists warning the world is on track for 2.6 to 3.1 degrees Celsius of warming by 2100 &ndash; far beyond the 1.5C target set in the 2015 Paris Agreement.<\/p>\n\nThis is the first part of this Insight article. The second part to be published on Wednesday (26 November) will verse about Latin America&rsquo;s specific policies and fossil fuels positionings, focusing in Brazil, Mexico and Colombia.<\/p>\n\nFOSSIL FUEL ROADMAP DERAILED<\/strong> \nMore than 80 countries, including Colombia, the UK, Germany and Kenya, had backed a formal roadmap to transition away from fossil fuels. France, Colombia, Germany and Kenya led the diplomatic effort, aiming to build a coalition of 100 nations from the nearly 200 delegations present.<\/p>\n\nThe EU proposed a flexible, &ldquo;non-prescriptive&rdquo; framework that would not oblige members to follow any particular path.<\/p>\n\n&ldquo;Our priority for the coming days is to broaden this coalition, to speak to all the countries that believe we need to move forward and accelerate on this issue,&rdquo; a source from the French delegation said.<\/p>\n\nBut fierce opposition from major oil-producing states, led by Saudi Arabia, and an estimated 70 countries ultimately blocked the initiative. The strong language to &ldquo;phase out fossil fuels&rdquo; adopted in Dubai in 2023 did not reappear in the final text.<\/p>\n\nIn a weak compromise, COP30 President Andre Correa do Lago promised to create a roadmap over the next year, but outside the framework of the formal COP summit process rather than formally adopting it at this summit.<\/p>\n\nBrazilian Environment Minister Marina Silva had expressed support for a roadmap &ldquo;because it lays the foundation for a fair and planned transition&rdquo; away from polluting fuels, while German state-secretary for climate action Jochen Flasbarth said his country would support any roadmap decision.<\/p>\n\n&ldquo;We need an actionable outcome, not another roadmap to nowhere,&rdquo; Jasper Inventor, deputy program director at Greenpeace International, said in a statement.<\/p>\n\nRECORD FOSSIL FUEL LOBBY PRESENCE<\/strong> \nThe push for a fossil fuel roadmap was undermined by an unprecedented concentration of industry representatives at the summit.<\/p>\n\nAn estimated 1,602 delegates with links to oil, coal and gas attended COP30, including representatives of energy majors ExxonMobil, Shell and TotalEnergies, as well as state-owned oil firms, according to analysis from Kick Big Polluters Out, a coalition of 450 organizations.<\/p>\n\nOne in every 25 participants at the conference was tied to the oil and gas sector, the highest concentration ever at UN climate talks. The lobbyists outnumbered the delegations of every country except Brazil and had two-thirds more conference passes than the 10 most climate-vulnerable countries combined.<\/p>\n\nThis figure has risen sharply from 500 attendees with fossil fuel ties at the Glasgow COP summit five years ago.<\/p>\n\nAt least 600 lobbyists held special party overflow badges, allowing them to remain in closed negotiation rooms without speaking rights.<\/p>\n\nFrance&rsquo;s delegation of 449 included at least 22 people linked to the fossil fuels sector, including five TotalEnergies executives, among them CEO Patrick Pouyanne.<\/p>\n\n&ldquo;It is clear we cannot solve a problem by giving power to those who caused it,&rdquo; said Jax Bongon, from IBON International in the Philippines.<\/p>\n\n&ldquo;Yet 30 years and 30 COP summits later, more than 1,500 fossil fuel lobbyists walk through the climate negotiations as if nothing had happened.&rdquo;<\/p>\n\nIn a letter dated 1 October, 225 environmental organizations urged the COP30 presidency to stop inviting major polluters into the talks, arguing that &ldquo;big polluters should not have access to climate policy making&rdquo; and that allowing industry representatives lets them &ldquo;continue to influence and undermine the international response.&rdquo;<\/p>\n\nTotalEnergies&rsquo; CEO Pouyann&eacute; expressed skepticism about a roadmap, calling it a &ldquo;European vision&rdquo; and suggesting more government regulation was not the answer. Speaking to Germany&rsquo;s DW news, he said he was not in Belem as a lobbyist and had been invited to COP30.<\/p>\n\nTotalEnergies was found guilty two weeks ago by a French court of misleading commercial practices over claims it could reach carbon neutrality by 2050 while increasing oil and gas production.<\/p>\n\nUS ABSENCE CASTS SHADOW<\/strong> \nThe absence of the US, whose President is a climate change denier and for the second time withdrew his country from climate accords, cast a long shadow over the proceedings.<\/p>\n\nThe White House sent no representatives to Bel&eacute;m, and the US Energy Secretary Chris Wright went as far as condemning COP30 as &ldquo;harmful and misguided&rdquo; because it does not improve humanity&rsquo;s prospects, in his view.<\/p>\n\n&ldquo;It&rsquo;s essentially a hoax. It&rsquo;s not an honest organization looking to better human lives,&rdquo; he said, defying global scientific consensus on climate change.<\/p>\n\nHe added he might attend next year&rsquo;s summit &ldquo;just to try to deliver some&rdquo; common sense.<\/p>\n\nChina, as the world&rsquo;s biggest emitter of greenhouse gases and the emerging leader in green energy technology, also played a muted role at the event.<\/p>\n\nCLIMATE FINANCE FALLS SHORT<\/strong> \nDeep fractures over climate finance exposed a widening gulf between developed and developing nations.<\/p>\n\nRich countries committed to triple &ldquo;adaptation finance&rdquo; by 2035 &ndash; roughly $120 billion of the $300 billion climate finance goal will now be dedicated to adaptation measures in the most vulnerable countries.<\/p>\n\nHowever, the timeline extends five years longer than what developing nations say is needed, and the overall amount falls far short of the hundreds of billions demanded by poorer countries facing the worst impacts of climate change.<\/p>\n\n&ldquo;We&rsquo;re not looking at any increases in adaptation finance,&rdquo; Irish climate minister Darragh O&rsquo;Brien said.<\/p>\n\nPakistan&rsquo;s Aisha Humera Moriani said it was &ldquo;extremely important that we find something on the operationalization of that $300 billion.&rdquo;<\/p>\n\nIsland state nations are increasingly panicking as they face the now almost certain prospect of their countries disappearing under the waves.<\/p>\n\nThe group called Small Island Developing States joined the coalition pushing for the fossil fuel roadmap, but their voices were drowned out by larger economies with fossil fuel interests.<\/p>\n\nBrazil&rsquo;s development bank BNDES and the environment ministry secured Brazilian reais (R) 8.84 billion ($1.67 billion) in reimbursable commitments for the Climate Fund during the summit, the bank said.<\/p>\n\nGermany&rsquo;s KfW, France&rsquo;s Agence Fran&ccedil;aise de D&eacute;veloppement and Italy&rsquo;s Cassa Depositi e Prestiti agreed to provide &euro;1 billion by 2027, while the Inter-American Development Bank will supply a further $500 million over the same period.<\/p>\n\nDEFORESTATION FUND DISAPPOINTS<\/strong> \nOne of Brazil&rsquo;s star proposals was the so-called Tropical Forests Forever Facility (TFFF), which was established to support rainforest conservation worldwide, but the commitments fell far short of the tens of billions Brazil was hoping for.<\/p>\n\nSix nations committed approximately $5.5 billion. Norway pledged $3 billion over 10 years, Brazil and Indonesia each committed $1 billion, France indicated up to &euro;500 million through 2030 subject to conditions, Portugal committed $1 million, and the Netherlands allocated $5 million for administrative costs, according to official statements.<\/p>\n\nThe TFFF targets $25 billion in public capital and $100 billion from private investors to generate approximately $4 billion annually for tropical forest nations maintaining deforestation rates below global averages.<\/p>\n\nThe World Bank will administer the blended-finance mechanism, which guarantees at least 20% of proceeds to indigenous peoples and local communities.<\/p>\n\nColombia qualifies amongst 74 eligible nations covering approximately 1 billion hectares of tropical forest, provided it maintains deforestation metrics below the worldwide mean.<\/p>\n\nThe UK may reconsider participation in the facility following its annual budget to be approved this week, despite initially declining to join the $125 billion conservation mechanism.<\/p>\n\nGermany endorsed the facility without specifying its financial contribution, with officials indicating the amount would be determined during discussions between President Lula and Chancellor Friedrich Merz, according to Brazil&rsquo;s Foreign Ministry.<\/p>\n\nNorway in particular has tied its contribution to a commitment by more countries also joining the initiative.<\/p>\n\nBNDES and the environment ministry also announced five credit operations totaling R912 million for projects to restore native vegetation in the Amazon, the Cerrado and the Atlantic Forest.<\/p>\n\nPrivate companies working on land recovery and sustainable farming will restore more than 86,000 hectares, though the bank did not specify timelines.<\/p>\n\nBrazil is at the epicenter of global deforestation, accounting for 60% of global forests. According to data from the World Resources Institute&rsquo;s Global Forest Watch, the world lost over 26 million hectares of primary tropical forest between 2015 and 2023. Of this, more than one-third &ndash; approximately 9.3 million hectares &ndash; occurred in Brazil alone. Increased logging, mining, cattle ranching and soy production is to blame.<\/p>\n\nThe Amazon region is nearing a &ldquo;tipping point&rdquo; at which forest loss could become irreversible, according to a 2022 study published in Nature Climate Change.<\/p>\n\nSince taking office in January 2023, President Lula has introduced measures to combat illegal deforestation, but his government recently approved oil exploration at the mouth of the Amazon river, an environmentally sensitive area.<\/p>\n\nBRAZIL&rsquo;S CONTRADICTORY STANCE<\/strong> \nThe host nation&rsquo;s position reflected the summit&rsquo;s central tensions. President Lula, who has positioned himself as a climate advocate, urged world leaders to end fossil fuel dependence even as his government approved new oil projects.<\/p>\n\nBrazil&rsquo;s first lady, Janja Lula da Silva, articulated the government&rsquo;s pragmatic stance during a panel in the federal government pavilion.<\/p>\n\n&ldquo;We can&rsquo;t believe that next week, as soon as COP ends, we&rsquo;re going to stop using fossil fuels. That&rsquo;s not a reality yet. We need to build a roadmap. And the Brazilian government, President Lula, is making this proposal, and we have been talking about it very intensely,&rdquo; she said.<\/p>\n\nLula stated at the end of October that Brazil &ldquo;will not throw away&rdquo; the wealth generated by oil and announced during the COP30 Leaders&rsquo; Summit the creation of a specific fund to allocate part of oil exploration profits to renewable energy investment.<\/p>\n\nFROM PREVENTION TO ADAPTATION<\/strong> \nPerhaps the most significant shift at COP30 was the change in focus from prevention to adaptation. The hallmark of the 2015 Paris summit was the adoption of a concrete plan to prevent temperatures from rising above 1.5C above the pre-industrial benchmark.<\/p>\n\nCOP30 in effect was an admission that goal has failed and going forward the work will be all about mitigating the damage that is going to be caused.<\/p>\n\nAfter temperatures last year were over 1.5C above the pre-industrial benchmark in every month of the year, the climate crisis is already here.<\/p>\n\nThe UN&rsquo;s Intergovernmental Panel on Climate Change says the effort to hold temperature increases to 1.5C has already failed and the planet is on course to see temperatures increase to a catastrophic 2.7C to 3.1C that lead to unpredictable results and positive feedback loops that could lead to runaway warming.<\/p>\n\nThe climate crisis is accelerating, and temperatures are rising faster than even the most pessimistic models set up by the IPCC.<\/p>\n\nWhen former German Chancellor Angela Merkel met Putin in Moscow in 2018 to negotiate energy deals, she told him that the EU would have completely phased out gas use by 2025.<\/p>\n\nAmongst other things, the AI revolution has completely changed the energy calculus and demand for power is set to accelerate at an extraordinary rate.<\/p>\n\nAlready worsening storms, floods, droughts and fires pose huge risks, especially to developing countries and small island states.<\/p>\n\nThe summer in the northern hemisphere this year was marked by the strongest hurricanes ever seen in the Caribbean that ripped through Jamaica.<\/p>\n\nAs the event came to an end, the Iranian government announced Tehran must be evacuated and abandoned as it has run out of water and is no longer viable as a city for human life.<\/p>\n\nPATTERN OF FAILURE<\/strong> \nCOP30 follows a pattern of failure at recent climate summits. The UAE&rsquo;s COP28 was criticized after the oil-rich Arab state used the event to sign oil and gas deals on the sidelines, and Azerbaijan&rsquo;s COP29 made only a lukewarm attempt to get major fossil fuel countries to even talk about the issues.<\/p>\n\n&ldquo;This was a challenging summit, with many countries saying opinions are more divided now than for a long time, as global leaders including US President Donald Trump challenge the global consensus on tackling climate change,&rdquo; officials said in closing remarks.<\/p>\n\nAfter Lula failed to broker a climate deal at the conference early on 19 November, he tried to sound optimistic, telling reporters: &ldquo;I am so happy that I leave here certain that my negotiators will have the best result a COP could have ever offered to Planet Earth.&rdquo;<\/p>\n\nBut Johan Rockstr&ouml;m, director of the Potsdam Institute for Climate Impact Research in Germany, told DW ahead of COP30 that the summit included &ldquo;so many strong voices that want to avoid the elephant in the room&rdquo; &ndash; fossil fuels.<\/p>\n\nAdvances on other major COP30 issues such as forest protection or adaptation finance &ldquo;can only be celebrated if we also see progress&rdquo; on the phase-out of fossil fuels, concluded Rockstr&ouml;m.<\/p>\n\nCOP31 is to take place in Turkey but co-hosted by Australia where some high-level meetings are set to take place.<\/p>\n\nThe same divisions will likely persist between oil-oriented countries and those seeking to diminish reliance on fossil fuels, and those that are divided &ndash; such as Brazil, Latin America&rsquo;s main oil producer and also a would-be climate leader.<\/p>\n\nThe second part of this Insight article to be published on Wednesday will verse about Brazil&rsquo;s contradictions as well as two other Latin American oil producing countries which are adopting diverging policies: Colombia and Mexico.<\/em><\/p>\n\nFront page picture source: COP30 press services<\/em><\/p>\n\nInsight article by&nbsp;Jonathan Lopez<\/strong><\/em><\/p>\n\n&nbsp;<\/p>\n\n&nbsp;<\/p>\n<\/section>\n<\/section>\n","image_url":"https:\/\/www.nghisonchemical.com\/datafiles\/47915\/upload\/files\/chemicaltoday_logo.jpeg?t=1764280188","image_thumb_url":"https:\/\/www.nghisonchemical.com\/datafiles\/47915\/upload\/thumb_files\/chemicaltoday_logo.jpeg?t=1764280299","tags":["Chemicals news - NOV. 25TH-27TH 2025"],"count_view":154,"seo_name":"chemicals-news-nov-25th-27th-2025","date_update":1764222608,"date_created_format":1764279432,"meta_title":"Chemicals news - NOV. 25TH-27TH 2025","meta_desc":"Mexico’s Braskem Idesa on ‘restricted default’ after unpaid interest coupon","meta_keyword":"Chemicals news - NOV. 25TH-27TH 2025","qr_code":"https:\/\/www.nghisonchemical.com\/chemicals-news-nov-25th-27th-2025"},{"id":726485,"name":"Security 50: Industry shows resilience amid strong economic headwinds","desc":"","content":"<meta charset=\"UTF-8\" \/><\/p>\n\n<h1>Security 50: Industry shows resilience amid strong economic headwinds<\/strong><\/span><\/h1>\n\n<ul>\n\t<li>Source:&nbsp;William Pao<\/li>\n\t<li>Date:&nbsp;2025\/11\/17<\/li>\n<\/ul>\n\n<img alt=\"Security 50: Industry shows resilience amid strong economic headwinds\" src=\"https:\/\/www.asmag.com\/upload\/pic\/case\/40259.9626126.jpg\" title=\"Security 50: Industry shows resilience amid strong economic headwinds\" \/><\/p>\n\nLooking back at 2024, we observed the global economy achieved a subdued growth of 2.8 percent, according to the&nbsp;<a href=\"https:\/\/www.worldbank.org\/en\/publication\/global-economic-prospects\" target=\"_blank\">World Bank<\/a>. This is more or less reflected in this year&rsquo;s Security 50, where companies&rsquo; 2024 growth averaged 3.28 percent. As for this year and next, amid trade barriers, regional conflicts and other uncertainties, security companies still expressed optimism for continued growth, which they said will be driven by advanced technologies, especially breakthroughs in AI. \n&nbsp;<\/p>\n\n<h2>Top 10 companies<\/h2>\n\n&nbsp; \nWelcome to asmag.com&rsquo;s&nbsp;<a href=\"https:\/\/www.asmag.com\/rankings\/\" target=\"_blank\">2025 Security 50<\/a>, featuring the Top 50 public-traded companies in physical security based on their 2024 revenue from security product sales. The Top 10 companies this year are: Hikvision Digital Technology, Dahua Technology, ASSA ABLOY, Motorola Solutions, Axis Communications, Allegion, Tiandy, Hanwha Vision, Raythink and TKH. Hikvision and Dahua remain the world&rsquo;s No. 1 and No. 2 security companies, with 2024 revenues of US$12.87 billion and $4.48 billion, respectively. \n&nbsp; \nWe also see some new entrants on this year&rsquo;s list. They are Raythink, Alarm.com, Arlo and Innodep. In particular, Raythink, based in China, specializes in the development, manufacturing and marketing of intelligent photoelectric sensing technology. Innodep, based in Korea, is a specialized company focused on AI-based data city platforms. \n&nbsp;<\/p>\n\n<h2>Top growth companies<\/h2>\n\n&nbsp; \nMeanwhile, a majority of companies &ndash; 33 &ndash; registered growth in 2024 year-on-year. The Top 10 growth companies are: ITX, Sparsh CCTV, Dongguan Yutong Optical Technology, Tamron, Everfocus Electronics, Raythink, Milestone Systems, Dynacolor, Intelbras and Hanwha Vision. It&rsquo;s worth noting that the world&rsquo;s biggest two, Hikvision and Dahua, saw slowed growth momentum due to adverse conditions in markets, domestic and abroad. \n&nbsp;<\/p>\n\n<h2>Chinese market decline seen<\/h2>\n\n&nbsp; \nIndeed, Chinese companies performed inadequately last year and more or less dragged down the global market as a whole. A report by Novaira, for example,&nbsp;<a href=\"https:\/\/www.asmag.com\/showpost\/35133.aspx\" target=\"_blank\">finds<\/a>&nbsp;that the global video surveillance market experienced a decline of 0.3 percent in 2024, due largely to a China market decline of 7.8 percent, which offset a growth of 4.9 percent for the rest of the world. Omdia also revealed in an interview with asmag.com that the Chinese market experienced its third consecutive year of contraction declining by 9.6 percent in 2024, while markets outside China expanded a healthy 7.5 percent to $16.8 billion. \n&nbsp; \n&quot;The persistent downturn stems from a combination of factors: a prolonged real estate sector correction, restricted public sector spending, and diminished business confidence, all of which have curtailed project investments across government, enterprise and small-to-medium sized business sectors, deepening the market&rsquo;s multi-year contraction,&rdquo; said Tommy Zhu, Principal Analyst for Physical Security at Omdia. \n&nbsp; \nAs for 2025 and 2026, Omdia gave a more positive assessment, forecasting a smaller decline this year and a return to growth next year. &ldquo;The growth drivers include increased issuance of government bonds focused on digitization, infrastructure, and high-tech manufacturing. Recently announced mega projects, such as the hydropower project in the Yarlung Zangbo River and Xinjiang-Tibet railway will also boost growth in the critical infrastructure sector,&rdquo; Zhu said. \n&nbsp;<\/p>\n\n<h2>A review of 2025<\/h2>\n\n&nbsp; \nNeedless to say, 2025 was an eventful year. The war between Russia and Ukraine dragged on. The conflict in the Middle East had continued until Israel and the Hamas reached a truce, whose effectiveness remains to be seen. But the real transformative force that changed the global economic dynamics was the trade war launched by the U.S. against different nations. The trade war between the U.S. and China has been particularly intense, with the U.S. slapping triple-digit tariffs on China and banning sales of advanced US technologies, including advanced chips, to China. China has responded in kind by controlling rare earths exports to the U.S. and halting purchases of US soybeans. After a recent meeting between Presidents Xi Jinping and Donal Trump in Korea, the two superpowers temporarily reached a truce that is expected to last a year. \n&nbsp; \nBut as far as security is concerned, U.S.&rsquo;s punitive measures against China produced minimal impact on Chinese security players &ndash; at least for the larger ones. \n&nbsp; \n&quot;Companies like Hikvision and Dahua began restructuring their global supply chains as early as 2018, when U.S.-China trade tensions escalated. By establishing production bases in India, Vietnam, and Brazil, the two companies mitigated tariff impacts,&rdquo; Zhu said. &ldquo;Additionally, due to ongoing US sanctions, Hikvision has gradually exited the US market, and Dahua has sold its North American operations. As a result, the latest tariffs have minimal impact on these industry leaders. Other smaller players that rely on the US market but do not have local manufacturing plants, may face increasing challenges from the US trade barriers.&rdquo; \n&nbsp; \nHe added: &ldquo;The US export control on chips have limited effects on Chinese security industry at present. Sanctions on Chinese security vendors started before the pandemic and has been intensified in recent years. Over the past few years, these large vendors have shifted to China-made alternatives to ensure supply chain safety.&rdquo; \n&nbsp; \nHikvision, meanwhile, offers a similar assessment and says prospects look good this year. &ldquo;From Hikvision&rsquo;s perspective, 2025 has shown stable growth across international markets. While certain regions face geopolitical and trade-related challenges, we&rsquo;ve seen strong demand in emerging markets such as MEA, Latin America, and Pan-APAC,&rdquo; said Allen Tang, VP of Hikvision International Business Center. \n&nbsp; \nOther companies we spoke with also gave positive outlooks for 2025, despite the global challenges and uncertainties. \n&nbsp; \n&ldquo;Despite economic uncertainty in the broader market, demand for security has continued to grow, and our partners are seeing that growth firsthand. Historically, security has proven to be one of the most resilient industries through different economic cycles, and advances in technology has only strengthened that position,&rdquo; said Dan Kerzner, President of Platforms Business at Alarm.com. \n&nbsp; \n&ldquo;Geopolitical trade barriers present headwinds for industry, particularly around cross-border technology transfer and supply chain resilience. At HID, we navigated these by remaining laser focused on meeting customer needs, investing in localized manufacturing where feasible, and diversifying sourcing partnerships. This has allowed us to remain resilient and continue delivering trusted identity solutions to customers worldwide,&rdquo; said Ramesh Songukrishnasamy, SVP and CTO of HID. \n&nbsp; \nAs for what&rsquo;s driving growth for this year, security players cite increased demand and adoption of advanced technologies such as AI, which they said has transformed security from a cost center to a value center. \n&nbsp; \n&ldquo;AI integration continues to redefine the physical security industry, driving a shift from reactive protection towards more intelligent, adaptive systems. The most notable innovations are those enhancing situational awareness and enabling data-led decision making in real-time, helping security and building management systems to work together more seamlessly,&rdquo; said Howard Lang, President, Gunnebo Entrance Control. \n&nbsp; \nIn particular, the so-called &ldquo;large-scale AI models,&rdquo; which are trained on large datasets and are seen to drastically improve detection accuracy and reduce false alarms, have gained widespread attention in security. \n&nbsp; \n&ldquo;Large-scale AI is one of the most transformative innovations reshaping physical security today. From intelligent camera analytics to instant video search capabilities, the application of large-scale AI models delivers significant improvements in security protection, business intelligence, traffic management, and more In line with this trend, Hikvision has launched our Guanlan large-scale models, leveraging these capabilities to deliver advanced intelligence across our new products and solutions. This strategic focus on large-scale AI integration positions us at the forefront of the evolving security landscape,&rdquo; Tang said. \n&nbsp;<\/p>\n\n<h2>Challenges remain<\/h2>\n\n&nbsp; \nDespite the upbeat sentiment, various challenges still remain in security. One of them is cybersecurity, especially at a time when security devices are more connected than ever and video can be faked or manipulated by AI. \n&nbsp; \n&ldquo;One of the major challenges in 2025 has been the rise of sophisticated AI-driven attacks that blur the lines between physical and digital breaches. HID&rsquo;s State of Security and Identity 2025 report revealed that 62 percent of enterprises faced identity-related breaches in the past year, underscoring the scale of the challenge. At the same time, organizations are under pressure to modernize legacy infrastructure while ensuring compliance with evolving global and regional regulations. Organizations increasingly understand that effective security cannot compromise convenience, and this is where HID continues to deliver differentiated value in areas of robust technologies and enhanced user experiences,&rdquo; Songukrishnasamy said. \n&nbsp; \nAnother key challenge has to do with labor shortage and other related issues. &ldquo;Staffing shortages, high turnover, and the cost and complexity of training have become some of the biggest barriers for organizations across the industry. Channel partners are especially feeling the strain as they struggle to find and retain skilled technicians, often dealing with errors and inefficiencies that flow directly from inexperience. These challenges aren&rsquo;t just HR problems; they&rsquo;re shaping how quickly businesses can innovate and how effectively they can operate,&rdquo; said Danille Mitchell, Training Manager for APAC and IMEA at Gallagher Security. \n&nbsp; \n&ldquo;For us, addressing these people issues has meant leaning heavily into education, training, and partnership. We&rsquo;ve focused on providing resources that help fill capability gaps, making expertise accessible, and building long-term trust with customers and partners. By tackling the human side of the industry head-on, we&rsquo;ve found we can remove some of the friction that slows adoption and help ensure that technology delivers the value it promises,&rdquo; she added. \n&nbsp;<\/p>\n\n<h2>Upbeat for 2026<\/h2>\n\n&nbsp; \nAs for next year, security players also expressed upbeat sentiment, saying the momentum gained around advanced technologies such as AI and mobile access control will continue. \n&nbsp; \n&ldquo;We are optimistic about 2026, with expectations for continued growth across our core markets. The momentum will be driven by accelerated digital ID, mobile access and biometrics adoption, as more governments roll out national identity modernization initiatives. In the enterprise space, demand for converged access solutions, where a single digital credential secures both cyber and physical access, is expected to expand rapidly,&rdquo; Songukrishnasamy said. &ldquo;Our 2025 research highlights that over 70 percent of organizations plan to increase investment in mobile identity and credential issuance in the next two years. This trend will extend into 2026, along with heightened demand for zero-trust architectures that integrate identity deeply into security frameworks.&rdquo; \n&nbsp; \n&ldquo;Looking ahead to 2026, I&rsquo;m optimistic,&rdquo; said Andrew Elvish, VP of Marketing at Genetec. &ldquo;Investments remain strong, and security professionals are approaching technology with real curiosity and creativity. As AI tools continue to accelerate investigations, and intelligent automation helps security operators gain a unified understanding of activity across systems, we expect growth to continue.&rdquo; \n&nbsp; \n&ldquo;For 2026, we expect continued momentum, especially as AI becomes more context-aware and further integrated across mission-critical verticals such as venues and smart cities. The drive towards more automated workflows will broaden AI&rsquo;s role, extending it from traditional security applications into areas like operations and business intelligence, where the camera acts as a sensor generating data,&rdquo; said Gerard Figols, Chief Operating Officer at i-PRO.<\/p>\n","image_url":"https:\/\/www.nghisonchemical.com\/datafiles\/47915\/upload\/files\/40259_9626126.jpg?t=1764277458","image_thumb_url":"https:\/\/www.nghisonchemical.com\/datafiles\/47915\/upload\/thumb_files\/40259_9626126.jpg?t=1764280298","tags":["Security 50: Industry shows resilience amid strong economic headwinds"],"count_view":269,"seo_name":"security-50-industry-shows-resilience-amid-strong-economic-headwinds","date_update":1764222608,"date_created_format":1764277487,"meta_title":"Security 50: Industry shows resilience amid strong economic headwinds","meta_desc":"","meta_keyword":"Security 50: Industry shows resilience amid strong economic headwinds","qr_code":"https:\/\/www.nghisonchemical.com\/security-50-industry-shows-resilience-amid-strong-economic-headwinds"}]},"widget_15867935":{"content_data":{"content":"Fact. 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