Market Flash

LS Heavy Equipment has delivered the first core equipment—an ethylene tower and a No. 1 propylene tower—for Qilu Petrochemical's Lu Oil and Lu Refining project in Zibo, marking progress on a 1 million tpa ethylene plant due for mechanical completion in August 2028. Startup will lift Qilu's ethylene capacity from 800,000 to 1 million tpa and refining capacity from 12.5 to 16 million tpa. The plant uses Sinopec's CBL cracking and LECT low-energy separation technologies, with feedstock flexibility

• QiluPetrochemical
• Ethylene
• FineChemicals

China Datang’s Fuxin coal-to-natural gas project began operating its first production line on November 2, feeding gas into the National Pipeline Network’s Daqing–Shenyang line. The line produces 4 million cubic meters daily—about 1.33 billion cubic meters annually—from roughly 7.5 million tonnes of low-rank coal. The full project is planned at 4 billion cubic meters, with investment above RMB 24.5 billion and over 300 kilometers of supporting pipelines. More than a supply-security measure, the p

• DatangFuxin
• CoaltoGas

U.S. Midwest ammonia prices have risen approximately 45% since late June to around $875 per short ton as declining imports from Trinidad and Tobago coincide with seasonal demand and production constraints.

• Ammonia Prices
• Nitrogen Fertilizer
• Trinidad Ammonia Supply
• US Fertilizer Market
• Global Chemical Trade

A tanker was struck by two unidentified projectiles in the Arabian Gulf on November 1 as UKMTO reported two separate vessel incidents in the Strait of Hormuz and off Oman.

• Arabian Gulf Tanker Attack
• Strait of Hormuz
• Maritime Security
• Global Energy Shipping
• Petrochemical Supply Chain

Yulong Petrochemical’s new 200,000 t/y LDPE/EVA unit produced on-spec film-grade 2420H in late October, and LDPE film prices fell RMB22/t to RMB12,368/t the same day. The startup, originally planned for March 2026, was delayed seven months, briefly easing supply expectations. Still, the delay changed pace, not direction: China’s 2026 LDPE capacity additions total 1.55 million t/y, with about 600,000 t due in the second half. The market priced in the new supply immediately, while the oil-based ma

• LDPE
• FineChemicals
• YulongPetrochemical

More than 25 dockworker unions representing 113 ports across 22 countries and territories joined coordinated action on October 30, with strikes disrupting cargo handling and ferry services in parts of Europe.

• Global Port Strike
• Maritime Logistics
• International Shipping
• Port Operations
• Chemical Supply Chain

Around 250 port watchmen have authorized a potential November 1 strike at Los Angeles and Long Beach, threatening operations at terminals handling 85% of Long Beach's cargo and 33% of Los Angeles' cargo if other dockworkers honor picket lines.

• Los Angeles Port
• Long Beach Port
• Port Strike
• Container Shipping
• Chemical Supply Chain

ENEOS completed its ~US$758 million acquisition of TPC Holdings on October 27, reshaping global butadiene capacity rankings: Shell exited the top three, ENEOS entered, while Sinopec and PetroChina held first and second. China's total butadiene capacity is 7.577 million tons per year. The deal secures TPC's Houston-based, shale gas-derived C4 assets and North American leadership in butadiene, butene and polybutene, feeding ENEOS's S-SBR lines rather than spot markets. China's self-sufficiency exc

• FineChemicals
• ENEOS

Yemen's Houthis claimed missile and drone attacks targeting Saudi Aramco facilities in Yanbu, the Rabigh refinery and the East-West Pipeline, while the Saudi-led coalition confirmed intercepting two ballistic missiles without confirming direct hits on the reported energy targets.

• Saudi Aramco Facilities
• Houthi Missile Attacks
• Middle East Energy Security
• Saudi East West Pipeline
• Red Sea Oil Transportation

Phillips 66 has locked out approximately 385 union-represented employees at its Bayway refinery and Linden terminal in New Jersey following the expiration of a labor contract extension, while the company plans to maintain operations with qualified management and technical personnel.

• Phillips 66 Bayway Refinery
• US Refinery Labor Dispute
• Crude Oil Refining
• Gasoline and Diesel Supply
• North American Energy Market

Shipping disruptions through the Strait of Hormuz have affected nearly 20% of global ethylene capacity and up to 40% of Asia's naphtha supply, tightening polyethylene markets and shifting some demand toward North American and European producers despite the Middle East's enduring cost advantage.

• Global Ethylene Capacity
• Strait of Hormuz Disruptions
• Polyethylene Supply Chain
• Global Petrochemical Market
• Middle East Chemical Exports

Two commercial vessels were confirmed sunk near the Strait of Hormuz within 24 hours, including a Singapore-flagged container ship whose 21 crew members escaped unharmed, while another Singapore-registered vessel was damaged in a separate attack.

• Strait of Hormuz
• Global Maritime Security
• Commercial Shipping Attacks
• Container Ship Incidents
• International Supply Chain

Explosions were reported near Saudi Aramco's headquarters in Dhahran on October 13, with one source reporting a building fire and four others confirming an evacuation order, as the Saudi-led coalition said it had intercepted a missile over the city.

• Saudi Aramco Headquarters
• Saudi Arabia Missile Attack
• Middle East Energy Security
• Global Oil And Gas Industry
• Energy Infrastructure Security

Crude tanker freight costs from the Americas to Asia have exceeded $80 million per voyage, or approximately $40 per barrel, as vessel shortages and disrupted Middle Eastern shipping routes leave heavy crude accumulating across the Americas despite strong demand from Asian and European refiners.

• Global Tanker Freight
• Crude Oil Shipping
• VLCC Freight Rates
• Global Energy Trade
• Heavy Crude Oil Market

A U.S. fighter jet struck a Panama-flagged commercial cargo vessel in the Gulf of Oman on October 10, disabling its propulsion after the ship allegedly attempted to breach a naval blockade against Iran, as traffic through the Strait of Hormuz fell to a two-month low.

• Gulf Of Oman Ship Attack
• US Iran Naval Blockade
• Strait Of Hormuz Shipping
• Global Energy Trade
• Maritime Supply Chain Disruption

Shandong's basic organic chemicals exports surged 19% in the first eight months of 2026, nearly seven times the province's overall export growth of 2.8%. Exports reached RMB 60.31 billion, or 4.1% of Shandong's RMB 1.46 trillion total. These upstream materials feed polyurethane, nylon 66, coatings, adhesives, polycarbonate and polyester supply chains, where Shandong holds a key position. Overseas plant outages, broken technology monopolies and supply chain restructuring have amplified demand for

• Shandong
• basicorganicchemicals

Shell said on October 8 that its Pearl gas-to-liquids plant has partially restarted following a six-month outage caused by damage, allowing limited inventory building while shipments stay exposed to regional security conditions, particularly the Strait of Hormuz.Traders said QatarEnergy has issued a spot tender for up to 50,000 tonnes of naphtha on an FOB basis, covering four grades including Pearl GTL naphtha, loading at Ras Laffan Port on October 20-25. A prior tender with the same grade settl

• Shell
• Qatar
• GTL
• QatarEnergy

At least 12 attacks, attempted attacks or harassment incidents involving oil tankers, LNG or LPG vessels were recorded around the Strait of Hormuz from September 28 to October 5, while commodity-vessel traffic fell to its lowest level in more than two months.

• Strait of Hormuz
• Tanker Shipping
• LNG Logistics
• LPG Market
• Energy Supply Chain

Saudi Aramco is discussing discounts of up to around USD 9 per barrel on selected second-half October crude cargoes transferred ship-to-ship off Oman as Asian refiners face sharply higher freight and logistics costs.

• Saudi Aramco
• Crude Oil
• Ship to Ship
• Oil Freight
• Asian Refiners

Between September 22 and 25, India's Ministry of Commerce and Industry opened anti-dumping investigations into several Chinese chemical and pharmaceutical raw materials. The products named include glycine, copolymer polyols, amoxicillin trihydrate, montelukast sodium, and 6-aminopenicillanic acid (6-APA) — all key inputs for India's domestic pharma and chemical sectors. Glycine was filed first on September 22, followed by copolymer polyols on September 23, amoxicillin trihydrate and montelukast

• Anti-Dumping
• India
• FineChemicals