Turkey’s appliance sales drop in 2023 on lower exports

  • Spanish Market: Petrochemicals
  • 01/02/24

Sales of white goods produced by major production base Turkey fell in 2023, Turkish white goods manufacturers association (Turkbesd) said.

Total sales were around 33mn units, down by 4.1pc year on year, while production fell by 1.4pc to 32.4mn units. Within that, exports fell to 23.2mn units, down by 10pc in 2023 compared with a year earlier. This drop was partially offset by a 14.4pc year on year increase in domestic sales to 9.5mn units.

The white goods sector is a key demand channel for isocyanates into rigid foams for the manufacture of appliances.

Turkbesd's sales figures include the six main product categories of refrigerators, freezers, washing machines, dryers, dishwashers and ovens.


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31/05/24

US PVC export prices rise on tighter global supply

US PVC export prices rise on tighter global supply

Houston, 31 May (Argus) — US polyvinyl chloride (PVC) export prices have risen by $60/metric tonne on average in the last few weeks as tighter global supply and freight challenges outweigh rising domestic production. PVC export prices settled this week at $770-800/t fas Houston, touching $800/t for the first time since September 2023 and up from $720-730/t fas during the first week of May. US producers have raised operating rates following months of maintenance and unplanned outages, but that has had little effect on global supplies as some US producers say domestic sales volumes also have risen, tightening producers' inventories. At the same time, Chinese PVC producers have been reducing exports, specifically to Africa, India, and south Asia. Market participants claim freight rates from Asia are becoming too expensive, making Chinese PVC exports less competitive compared to supply from the US and Europe. This has allowed US producers to sell into previously competitive regions at higher prices. US export prices also have benefited from a force majeure declaration and shutdown at Orbia's Altamira PVC plant in Tamaulipas, Mexico. The 690,000 t/yr plant has been down since 5 May due to water shortages, and Orbia has made no public announcement on when the plant will resume operations. As traders and buyers in Latin America organized June shipments, the weight of the shutdown came into effect. Whether Orbia reallocates some supply from its Colombian operations into Central America remains to be seen, but US exporters expect Latin America to be increasingly tight on PVC either way. The lack of affordable resin from Asia due to freight rates further limits alternative supply options. US producers are unsure how long the elevated PVC pricing will last or if prices could rise even further in the weeks ahead. A few buyers are holding out on spot purchases with the expectation of prices falling as the summer progresses, however some volumes have been exported to Africa at a $800/t fas price equivalent, indicating that there is support for higher prices in the interim. By Rachel McGuire and Aaron May Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Singapore launches commercial methanol bunkering


28/05/24
28/05/24

Singapore launches commercial methanol bunkering

Singapore, 28 May (Argus) — Singapore has launched commercial-scale methanol bunkering at the Tuas port, after a successful run of its first simultaneous methanol bunkering and cargo operation (Simops) on 27 May. Bunkering operations for shore-to-ship, ship-to-ship, and simultaneous cargo operations while bunkering methanol or alternative fuels like ammonia and hydrogen, will now be available at the Port of Singapore, the Maritime and Port Authority of Singapore (MPA) announced. This development comes after MPA's inaugural Simops of Singapore-based shipping firm X-Press Feeders' first dual-fuel engine container vessel. The Rotterdam-bound vessel was refuelled in Singapore with close to 300t of bio-methanol by MPA-licensed bunker supplier Global Energy Trading. The methanol bunkering occurred concurrently while vessel containers were restowed and loaded, and was supported by digitalisation of the bunkering process for near real-time visibility for various stakeholders. All crew members were trained to handle methanol as a marine fuel and respond to emergencies, given that safety remains a key consideration when bunkering alternative fuels. X-Press Feeders' vessel was the first of 14 dual-fuel vessels that it has ordered. The China-built vessel is equipped with a German-designed dual-fuel engine and has the flexibility to operate on green methanol. The firm plans to operate its green methanol-powered feeders mostly in the ports of Rotterdam and Antwerp-Bruges, where it has a fuel supply contract with chemical manufacturing firm OCI Global. "We look forward to working with other like-minded partners, including on the use of digital bunkering and mass flow meter solutions, to operationalise the delivery of the new marine fuels in Singapore," MPA chief executive Teo Eng Dih said. Singapore is steadily advancing towards its multi-fuel transition for maritime decarbonisation. Another ship-to-ship delivery of 1,340t of blended 20pc bio-methanol combined with 80pc of conventional methanol was completed on 24 May. The alternative fuel blend is reported to provide 31pc in CO2 equivalent savings on a tank-to-wake basis as compared to operating on conventional very-low sulphur fuel oil (VLSFO) for the same distance. The Argus -assessed price for VLSFO stood at $582.68/t delivered on board (dob) Singapore on 27 May, while prices for B24 were assessed at $720.50/t dob Singapore. By Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

US ethane supply gains seen trailing demand growth


23/05/24
23/05/24

US ethane supply gains seen trailing demand growth

Houston, 23 May (Argus) — Export and domestic demand growth for US ethane is expected to outpace US supply growth by as much as 72,000 b/d by 2026, according to a recent forecast from consultancy East Daley Analytics. A surplus of US ethane production, bolstered by gains in natural gas drilling and production to meet growing demand for electricity generation and LNG exports, has led to increasing investments in additional ethane export terminal capacity to provide other outlets for the petrochemical feedstock. The US Energy Information Administration (EIA) showed US ethane production from natural gas processing rose to a record 2.78mn b/d in October of 2023 and fell to 2.69mn b/d in February, the latest data the agency has available. Those volumes don't take into account ethane that is rejected into the gas stream at processing plants during periods of restrained capacity or when natural gas prices spike on weather-related outages, incentivizing lower ethane recovery. Mont Belvieu, Texas, EPC ethane's premium relative to its natural gas fuel value at Waha reached a peak of 50.31¢/USG on 6 May, a 16-month high, and has averaged 26.08¢/USG in May so far, according to Argus data. As ethane margins versus natural gas rise, ethane extraction at natural gas processing plants becomes even more profitable, pushing ethane recovery rates higher. Yet East Daley's forecasts suggest projects to absorb this additional feedstock may quickly outpace production. The consultancy projects US ethane production will rise by 283,000 b/d by 2026, driven mostly by gains in natural gas production in the Permian and Marcellus basins. Increased gas takeaway capacity from the completion of maintenance on Kinder Morgan's Permian Highway pipeline (PHP), the Gulf Coast Express (GCX) pipeline, and the Transwestern pipeline at the end of this month, will allow for higher levels of ethane rejection, according to Rob Wilson, East Daley's vice president of analytics, limiting potential gains in ethane production from the additional gas. Further gas capacity restrictions in the Permian are expected to be mitigated when the 2.5 Bcf/d Matterhorn Express pipeline — which runs from the Waha, Texas, gas hub to Katy, Texas, on the Gulf coast — comes online in the third quarter of this year. Domestic demand for ethane is projected to rise by 129,000 b/d by 2026 with the addition of Chevron Phillips Chemical's joint venture with QatarEnergy to construct a 2mn t/yr ethane cracker on the Texas Gulf coast that is scheduled to come online in 2026. That joint venture will consume 118,000 b/d of ethane when at full capacity, but will operate at 50pc of capacity when first on line in 2026, according to East Daley. Increased US ethane cracking will come on top of a 231,000 b/d increase in ethane exports by 2026, driven by demand from Chinese crackers and burgeoning demand from Indian crackers, according to the consultancy. Ethane export expansions at Energy Transfer's Marcus Hook terminal in Pennsylvania and Enterprise Products Partners' new flexible LPG and ethane terminal at Beaumont, Texas, are expected to be complete by 2025 and 2026, respectively. Combined, these projects add another 360,000 b/d of ethane demand by 2026, outstripping expected supply growth by an estimated 72,000 b/d, according to East Daley's forecast. By Abby Downing-Beaver Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Minnesota passes producer responsibility law


22/05/24
22/05/24

Minnesota passes producer responsibility law

Houston, 22 May (Argus) — Minnesota became the fifth state to pass an extended producer responsibility (EPR) law for packaging in the US after Governor Tim Walz (D) signed the bill into law on Tuesday. The law requires producers of consumer goods to take responsibility for end-of-life packaging, and provide funding for recycling programs and expansions. However, it does not assign full responsibility to producers, instead requiring them to pay half of recycling costs by January 2029, which will then scale up to 90pc by 2031. Minnesota joins Oregon, Maine, California, and Colorado in adopting an EPR law. The Minnesota law establishes a single producer responsibility organization to administer producer fees and collect recycling data. Some industry associations, including the American Institute for Packaging and the Environment and the Consumer Brands Association (CBA), supported the bill. "The EPR framework established in this bill, which finances recycling through shared responsibility, will strengthen Minnesota's recycling infrastructure and increase recycling access for consumers," CBA said. However, The American Forest & Paper Association (AFPA) urged Governor Walz to veto the bill, saying it would "ultimately punish responsible producers" and inhibit the paper industry's investments. AFPA had criticized Colorado's EPR bill before it became law. The state's EPR bill was passed as part of a larger supplemental budget law for Minnesota natural resources, and includes provisions for other environmental concerns such as water quality. By Zach Kluver Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Braskem restarts Triunfo petrochemical hub


21/05/24
21/05/24

Braskem restarts Triunfo petrochemical hub

Sao Paulo, 21 May (Argus) — Brazilian petrochemical giant Braskem started the gradual resumption of operations at its plants in the Triunfo hub, Rio Grande do Sul state. Braskem said it expects to complete the process in about 15 days, provided that climatic and logistical conditions remain stable. On 7 May Braskem shut down all of its operations in Rio Grande do Sul state after extreme flooding since late April, but said its polymer inventories were safe and protected from the damage caused by heavy rainfall at its operations in southern Brazil during the past two weeks. At the time, Braskem said there was no permanent damage to the industrial facilities, but critical water intake and effluent treatment systems were submerged, rendering them inoperable. Additionally, the Santa Clara River terminal, which was preemptively closed by the local port authority, has also been flooded. Braskem said the decision to resume operations takes into account the safety of people, processes, and logistics, and stated that it will keep the market informed about relevant developments, including their impacts. Since the Triunfo shutdown, Braskem was working with an operational capacity of 50pc. But the company was heard increasing its operating rates in other Brazilian plants to serve customers in the southern region. Braskem last week ruled out bringing material from Mexico. The extreme weather in southern Brazil caused a humanitarian crisis in Rio Grande do Sul and left 161 people dead, 85 missing and over 581,000 people displaced, according to the state's civil defense. Braskem owns and operates six industrial units at the Triunfo hub, with a combined production capacity of over 5mn tonnes (t)/yr of chemicals and thermoplastic resins such as polyethylene (PE) and polypropylene (PP), including a 260,000 t/yr bio-based PE plant. By Frederico Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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