force majeures

Chemical industry data shows reflation remains hope, not reality

Western central bankers are convinced reflation and economic growth are finally underway as a result of their $14tn stimulus programmes.  But the best leading indicator for the global economy – capacity utilisation (CU%) in the global chemical industry – is saying they are wrong.  The CU% has an 88% correlation with actual GDP growth, far […]

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Force majeures hit new record high as safety loses out to profits

Just when you think something really can’t get any worse, it does.  Sadly, that’s the story on chemical industry force majeures since my last half-year review.  As I noted then: “There is no such thing as an accident. The chemical industry, like others, has known this for over 30 years, since the adoption of Quality […]

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2013 a bad year for force majeures

2013 wasn’t a good year for plant reliability.  The blog’s 6-monthly survey of force majeure reports in ICIS news shows: There were 386 reports of force majeures in 2013 This was very similar to the 391 level seen in 2010 It also reverses the decline seen in 2012 after the record 495 reports in 2011 This is a worrying […]

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Force majeures continue to increase

Companies have clearly been cutting capital budgets, in response to the slowing global economy.  That’s the only conclusion to be drawn from the blog’s 6-monthly review of force majeures, as reported by ICIS news.  They have been climbing steadily for months, and June saw them at twice the June 2012 level, as the chart shows. […]

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