- Last week, a major Taiwanese manufacturer raised July PVC shipment offers by $150/ton to India, $45/ton to Southeast Asia, and $25/ton to China, citing differences in ocean freight rates. Indian buyers reacted positively, and sources expect the producer to sell out quickly.
- INEOS Olefins & Polymers Europe has launched a new pilot line for co-developing recyclable flexible packaging films with customers, making it the first polymer producer to do so. This significant investment aims to reduce landfill waste by around one million tonnes annually. Initial projects are already developing new films for direct customer use.
- US chemical producer Dow has agreed to acquire flexible plastics recycler Circulus, based in Oklahoma. Circulus has recycling facilities in Ardmore, Oklahoma, and Arab, Alabama, with a total capacity of 50,000 metric tons per year. This is Dow's first purchase of a recycling facility as it aims to produce 3 million tons of circular and renewable plastic annually by 2030.
- Iran-backed Houthis have intensified their attacks on commercial shipping near Yemen, with two more ships targeted on June 23 and June 24, following the sinking of the Greek-owned Tutor on June 19. One of the ships attacked on June 23 was the Trans World Navigator, a Liberian-flagged, Greek-owned bulk carrier.
