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Exxon, Chevron Battle it Out in the Permian.  The two U.S. shale heavy-hitters both anticipate their Permian production will reach about 1 million barrels of oil per day in the next five years.

But who will fare the best?

Rystad offers five key points:

  • Drilling activity: Exxon will have to drill about twice as many new wells as Chevron to reach the production goal. As of 2018, Chevron’s unconventional output in the Permian was 75 percent higher than Exxon’s, so Exxon needs to accelerate drilling activity in order to close the gap and even exceed Chevron’s supply by 2025.
  • Rig programs: Currently Chevron doesn’t plan to ramp up drilling in the Permian as it believes the current program is already optimized with respect to well fundamentals and midstream infrastructure. Exxon, however, believes a large scale ramp-up of its Permian drilling campaign is needed to achieve capital efficiency and generate billions of dollars in cash flow from the region by 2023.
  • Acreage: Chevron’s legacy land accounts for 1.7 million acres across the Permian Delaware and Permian Midland basins. Exxon currently owns 1.6 million acres in the Permian, including a significant portion attributable to conventional targets in the Central Platform. Chevron has larger upside potential in the Delaware, while Exxon holds more drilling locations in the Midland Basin. Moreover, Chevron’s inventory is expected to deliver an average of five wells per section in Delaware and about six wells per section in Midland, while ExxonMobil will place seven and eight wells per section in each basin, respectively.
  • Well economics: Chevron achieves exceptionally low costs for each barrel of oil equivalent (boe) produced in both the Texas and New Mexico parts of the Delaware Basin, standing at below $5 per boe. Exxon’s cost comes out slightly higher at $6.30 per boe, still considerably below the average of between $8 and $9 per boe.
  • Scale: In the Delaware Basin, which is less developed than the Midland, Chevron leads in terms of average pad size as of 2018, on Texas and New Mexico sides. Exxon comes immediately after Chevron on the New Mexico side of the state border, with 3.3 wells per pad last year. In the Midland Basin, Chevron clocks in at about four wells per pad, and thus ranks again among the industry leaders.

Rystad Energy’s head of shale research Artem Abramov said Chevron and Exxon will leave all well-established shale producers behind.

“While Chevron is currently leading in terms of well productivity, economics and total Permian output, ExxonMobil is expected to continue to close the gap in the years to come,” he said. “Higher investments coupled with potential well performance improvements are likely to give an edge to ExxonMobil from 2020 to 2030. On the other hand, a larger acreage position with considerable upside potential provides Chevron with an opportunity to continue to grow post 2030.” Click here to read more.

Call on us at Chemic Integrated Services for all your oil and gas products procurement.

Venezuela Ordered to Pay ConocoPhillips $8.7B
An international arbitration tribunal has unanimously ordered the government of Venezuela to pay ConocoPhillips $8.7 billion.

The company has revealed that an international arbitration tribunal has unanimously ordered the government of Venezuela to pay the company $8.7 billion.

The compensation is for the government’s “unlawful expropriation of the company investments in Venezuela in 2007, plus interest,” said in a statement posted on its website.

In the statement, the company said the tribunal ruled in 2013 that the expropriation of ConocoPhillips’ “substantial” investments in the Hamaca and Petrozuata heavy crude oil projects and the offshore Corocoro development project “violated international law”.

The timing and manner of compensation collection “remain to be determined,” ConocoPhillips said in the statement.

“We welcome the International Centre for Settlement of Investment Disputes tribunal’s decision, which upholds the principle that governments cannot unlawfully expropriate private investments without paying compensation,” Kelly B. Rose, senior vice president, legal, general counsel and corporate Secretary of the company, said in a statement posted on the company’s website.

In April 2018, in a separate and independent legal action, an international arbitration tribunal, constituted under the rules of the International Chamber of Commerce (ICC), awarded ConocoPhillips approximately $2 billion from Petróleos de Venezuela, S.A. (PDVSA) and two of its subsidiaries.

In August 2018, the oil giant announced that it entered into a settlement agreement with PDVSA to recover the full amount owed under that award. It also has a pending contractual ICC arbitration against PDVSA related to the Corocoro project.

ConocoPhillips is the world’s largest independent exploration and production company based on production and proved reserves, according to its website.

Headquartered in Houston, Texas, ConocoPhillips has operations and activities in 16 countries. Back in January, the company reported 2018 earnings of $6.3 billion. ConocoPhillips recorded a full-year 2017 net loss of $0.9 billion. Click on the link  for more details.

Contact our technical team at Chemic Integrated Services for oil and gas products and services. We are procurement specialist and manufacturer’s representative in the Nigeria market and beyond.

Battling Corrosion: How Technology Has Changed the Fight to Protect Pipelines

Fighting corrosion has been a key part of pipeline integrity management for almost 50 years. While the threats are fairly well known, technology has changed how the industry assesses and addresses corrosion control.

Pipeline companies have more data about their assets than ever before. How they use that data has a major impact on managing corrosion and extending the life cycle of pipelines and other facilities.

Not only must operators keep up with the staggering amount of data they’re collecting through integrity management assessments, but they also must keep ahead of increasing governmental regulations that continually move the goal posts for operational excellence.

Better technology and increased industry standards are all about improving safety, according to Drew Hevle, corrosion control manager at Kinder Morgan.

“Certainly, the concerns about protecting people, the public and environment are ever increasing,” Hevle says. “Standards for safety and the environment continue to raise the bar. Regulations are more and more stringent and broader. New technology and capabilities that we didn’t have in the past have been applied to continue to improve the safety of pipelines.”

One of the key considerations for improving corrosion control processes is the concern over aging infrastructure, according to Dirk van Oostendorp, director of engineering services for Corrpro.

“There are some very old pipelines still in service that were built in the mid-1950s,” van Oostendorp says. “Typically, when you design and build a pipeline, you design it to last for 25 years. Many of our pipelines are well beyond their design life. If you tried to replace them all, the cost would be astronomical. And there are no guarantees you’re going to get the permits to install a pipeline in the same location. Everyone is very focused on what I call geriatric rehabilitation to keep these pipelines operational.”

Corrosion engineer

Corrosion engineers have access to vast amounts of data that helps them understand the condition of a pipeline. Pipeline operators must integrate that data to make informed decisions about their assets.

Understanding the Threats

Pipeline corrosion is caused by a number of different factors. The presence of water in a pipeline, soil conditions, proximity of power lines, certain microbes, external damage, impurities in the pipeline — all of these are major causes of corrosion.

The first line of defense is the pipeline coating, applied both externally and internally, to protect against the environment where the pipeline is installed and the material flowing through the pipe. If the coating becomes damaged, there are methods for rehabilitating it as needed.

Cathodic protection (CP) systems guard against exterior pipeline corrosion by applying anodes, rectifiers and DC currents to redirect corrosion to an anode that can be replaced.

AC mitigation protects pipelines that are built in parallel to overhead power lines. There are a number of ways to protect pipelines against AC interference, including fault shielding, gradient control mats, grounding systems and gradient control wire.

Microbially influenced corrosion (MIC) can be assessed using non-destructive evaluation (NDE) and compared to existing corrosion data. Proper mitigation is determined on a case-by-case basis, once the characteristics of the microorganisms present in the pipeline are determined.

External damage, from most commonly third-party strikes or installation errors, can also lead to corrosion by causing damage to the coating. Stress corrosion cracking (SCC) is another area of concern, caused by a combination of environmental, stress and material factors.

Further methods of corrosion control are based on pipeline integrity management systems, such as inline inspection (ILI), ultrasonic testing (UT), radiographic testing (RT), hydrotesting and other means.

A Mature Market

Corrosion control is “a fairly mature market,” Hevle says, referring to the knowledge of threats and the understanding of longstanding regulations.

“The initial regulations relating to pipeline corrosion came out in 1971, and many of them have not been changed since then,” he says. “There’s not a lot new in that regard. What is new is the availability of data from integrity assessments we can use to prioritize efforts to identify threats, to understand them better and where we need to apply additional resources for corrosion monitoring and mitigation.”

Corrosion threats are also pretty much the same as they have been for 40 years, Hevle says, explaining that a relatively new threat like AC corrosion came to light in the 1980s.

“Those threats are fairly well understood now,” he says. “We’ve had consensus on industry standards on how to address those concerns and regulations put in place to address them.”

However, a major change is coming to the industry. Hevle says the pipeline industry is awaiting sweeping revisions to natural gas safety regulations later this year. Known as the “Gas Mega Rule,” the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) is finalizing a set of rules that could double the number of pages of regulations that impact natural gas infrastructure.

According to a report from corrosion protection provider Matcor Inc., PHMSA’s proposed rulemaking will be broken up into three parts. The first section will address the expansion of risk assessment and maximum allowable operating pressure (MAOP) requirements to include areas in non-High Consequence Areas (HCAs) and moderate consequence areas (MCAs). Another part of the rulemaking will focus on the expansion of integrity management program regulations, including corrosion control to gathering lines and other previously non-regulated lines. And finally, the rulemaking is expected to focus on reporting requirements, safety regulations and definitions to include expanding into related gas facilities associated with pipeline systems.

“The trend of increasing regulations just reflects society’s expectations of higher and higher levels of safety,” Hevle says. “In the same way that public expectations are increasing, we also have a better-informed public than ever before because of the information available on the internet and social media.”

For an operator, the governmental regulations should act as a baseline for the minimum required corrosion protection, adds John Strong, technical field specialist for Polyguard.

“If an operator discovers corrosion on a pipeline the government regulations give a timeline for when a remediation is due,” Strong says. “A prudent operator will take this corrosion discovery as an opportunity to learn why it occurred. While the government regulations do drive most of the corrosion work performed on pipelines, it is also in the operators’ best interest to have a proactive stance when it comes to corrosion protection.”

In addition to regulatory considerations, corrosion protection providers are being asked to improve efficiency, says Keith Nevils, product director for pipeline services at Corrpro.

“There’s an impetus to do things faster or do it for less money,” he says. “It’s driving in both directions. On the efficiency and quality side, data collection is a big one. Because operators have to report to PHMSA on a regular basis, can you imagine if you had a binder full of papers that you had to look at every time? That’s a terrible way to manage your data, but still a number of companies are doing it that way.”

Lots of Data

New technology has made it possible to collect vast amounts of data about pipeline conditions, but technology has also made it easier to ensure data is accurate, Nevils says. For instance, a voltage meter can be outfitted with Bluetooth to enable a tablet computer to automatically import and view measurements. Technology allows electronic data collection to be pushed into a repository to find at any time.

“We may get some pushback in the industry with a resistance to technology,” Nevils says. “But more and more, we’re finding people who embrace technology.”

Hevle agrees, explaining how Kinder Morgan uses technology to build a robust database on its pipeline systems.

“We use a GIS system now that incorporates data not only from pipeline construction material, but from monitoring corrosion mitigation, as well as gas quality information from other sources,” Hevle says. “We have soils information and satellite photos that we can overlay in our GIS to show transmission power lines that we use to identify where we may have AC corrosion threats.”

Hevle describes how his job has changed since he entered the pipeline industry because of technology, noting that it has become a lot more computer-focused over the years.

“When I first started, it was a question of how to find information to make educated decisions,” he says. “Now we have to find a way to manage all the data we have to make those decisions. We have the opposite problem. We have more data than a person can process. We’re looking at different ways to present the data graphically and automate processes using algorithms to process multiple different components.”

Data Collection Kit in Use

Automated Accuracy

Automating data collection not only improves the accuracy of the information, it also improves efficiency and allows operators to make decisions quicker, according to Alasdair Stoddart, director of pipeline integrity management at Corrpro.

“Information collected from an asset is moving from having a technician in the field and data being collected with pen and paper, and then having the information typed into a document, to instead using electronic data capture,” Stoddart says. “That’s becoming a more integral part of asset management. As that trend continues, what we find is that the accuracy of the data becomes hugely improved. We find that the efficiency of gathering information is improved, and the real-time nature of the data is improved to the point where the asset owner has access to the information much faster than in the past.”

By automating data collection and getting the information quicker, Stoddart explains that the pipeline industry is able to move to a risk-based decision-making model, rather than time-based decision making.

Moving from prescriptive corrosion surveys to risk-based inspection (RBI) and quantitative risk assessment (QRA) driven intervals is where the industry should be moving, according to Daniel Ersoy, executive director of R&D at GTI. This is also well-aligned with the principles of distribution integrity management plans (DIMP) as required by federal and state regulations.

Changes to Come

While the pipeline corrosion market is mature, there are coming changes that could impact the industry in the next few years in terms of how corrosion control providers work with operators and how new technology will be implemented.

Stoddart sees pipeline operators looking to service providers to be stronger partners in the fight against corrosion.

“We’re looking to become an integrity partner with our customers, being more of a full suite provider from pipeline commissioning to monitoring thereafter,” he says. “Asset owners are looking for integrity companies to provide more guidance. Let the experts do the role they were designed to do more effectively.”

Nevils believes that there is still a tremendous amount of technology that can be introduced to the corrosion control market.

“What we’re doing with data collection, we’re like Google in the early days,” he says. “We’re building the repository for data, and now we need to do something with it, so we can become more predictive. That way we can get in front of the problem, instead of being behind.”

As computing power increases, Nevils says that the pipeline industry will be able to better understand the massive amounts of data it has and will continue to collect about the condition of its assets.

Ersoy agrees, noting how the Internet of Things (IoT) could impact the industry.

“IoT and other communication technology and protocols have the potential to change how we collect, pre-process, communicate and post-process corrosion-related data to make engineering, risk and integrity management decisions,” Ersoy says. “This might make it possible, especially for surface accessible locations, to have sensors for temperature, humidity and moisture, cathodic protection and pipe-to-soil levels, pH, conductivity, resistivity, etc., that are all real-time and communicated to a central database to enable more accurate risk calculations.”

Ersoy also believes that coatings will continue to improve.

“Interest is growing in novel and nano-based coatings for internal corrosion and flow improvement, as well as external self-healing and active passivation and sacrificial protection systems,” he says. “These coatings hold promise to provide improved corrosion resistance and system performance, while simultaneously lowering maintenance and repair costs.”

As the war against pipeline corrosion wages on, technology has changed and will continue to improve safety and integrity throughout the industry. Click on this link to read more on this topic.

Our team at chemic Integrated Services is available to answer your question on corrosion management.

 

Antifouling coatings
Antifouling coatings
Antifouling coating product has been lunched by Coatings manufacturer Hempel.  This antifouling has been designed to protect the hull from fouling throughout service intervals of up to 60 months. The new antifouling coating is suitable for all vessel types and all water temperatures.

Atlantic+ incorporates a biocide package and binder system. This ensures progressive and controlled self-polishing from the moment the hull hits the water and for up to 60 months thereafter. The new coating is reinforced with Hempel’s patented microfibre technology at a higher level of the company’s strongest cargo hold coating – Hempadur Ultra Strength Fibre.

The science behind the microfibre technology involves introducing an internal skeleton of fibres into the paint to enhance its mechanical strength – in the same way that steel rods can be inserted into concrete to reinforce a physical structure. Strengthening the antifouling coating in this way means ensuring protection from fouling on areas exposed to impact and abrasion; improving overcoatibility; reducing the areas to blast; and ultimately decreases the costs for the ship´s dry docking.

Commenting on the new coating, Hempel’s Group Product Manager, Marine Group Product & Portfolio, Davide Ippolito, said:

“Ever mindful of the operational and financial pressures on shipowners and operators, we are keen to continue to broaden our portfolio of hull coatings to ensure we are delivering a range of solutions to suit every customer. Atlantic+ is a mid-market coating that enables shipowners to benefit from a high-quality, high performing antifouling coating with superior mechanical strength. We’ve ensured our new product is easy to apply and that it provides protection for up to 60 months in a wide range of conditions offering high operational flexibility.”

Atlantic+ incorporates ingredients that enhance antifouling performance and provide effective self-polishing and smoothing characteristics. Its binder technology and use of biocides ensures consistent, progressive and controlled polishing in all trading conditions.

Article reference https://www.drybulkmagazine.com more details on the article

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Global Zinc Rich Primer Market 2023 report offers detailed impression of the competitive development and regulatory framework of the market. This will deal readers a clear understanding of the state of opposition, threats, major forecasts, and the major principles, procedures, tactics, and schemes impacting the market. The report summarizes the future market trends based on manufacture technology. The report considers all the major aspect affecting to business stability, basics concepts followed to recognize the business strategies. Global Zinc Rich Primer market Production, Supply, Market has boosted the global economy strongly since last period. The market has been providing economic stability as well as stimulating development in its peer and parent markets. The report is a complete analysis which discovers the significant and ongoing journey of Zinc Rich Primer Production, Supply, and market along with market forecast up to 2023. The report covers the extensive assessment of major Zinc Rich Primer Production, Supply, market participants, strategic planning, and technological growths in the market.

Z Market Segment by Manufacturers includesAkzoNobel, PPG Industries, BASF, Jotun, Hempel, Nippon Paint, Chugoku Marine Paints, Sherwin-Williams, Kansai Paint, KCC, Teal & Mackrill, Dampney Company, Bao Jun Paint, Beijing Forbidden City paint industry,

Market Segment by Regions includes:

  • North America
  • Europe
  • China
  • Japan
  • Rest APAC
  • Latin America

Influence of the Zinc Rich Primer market report:

Complete assessment of all prospects and risk in the market

Market current improvements and key events.

Complete study of business policies for development of the Zinc Rich Primer market-leading players.

Conclusive study about the development plan of market for upcoming years.

Detailed understanding of market-particular drivers, restraints and major micro markets.

Favourable impression inside vital technological and market newest trends striking the market.

Crucial Features of Global Zinc Rich Primer Production, Supply, Market Report:

Detailed summarization of Zinc Rich Primer Manufacture, Supply, and industry along with likely growth analysis and significant and existing status of the industry.

A wide-ranging analysis of key participants, manufacturers, suppliers, distributors in the global Zinc Rich Primer Production, Supply, market along with leading competitor’s product specification, vital financial details, corporate profiles, and profitable business tricks.

Detailed and essential evaluation of Zinc Rich Primer Production, Supply, market segmentation based on product/service types, applications, regions, and technology.

Valuable insights into import/export activities, demand and supply analysis, Supply, market share, size, growth rate, profit, revenue, and other necessary details.

An insightful study of changing market dynamics, Zinc Rich Primer Production, Supply, market driving force as well as manufacture analysis, capacity, manufacturing cost, industry chain structure, and progressive viewpoint. Click here for details. 

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The latest research suggests body-paint that offers effective protection against blood-sucking insects.

The new study, published this week in the journal Royal Society Open Science, confirms what many indigenous groups realized long ago. Body painting among indigenous people is more common in areas where horseflies, mosquitoes and tsetse flies are present.

Researchers at Lund University used a series of human mannequins to test the effects of body paint on the behavior of blood-sucking insects. The plain brown plastic model attracted ten times more horseflies than the model painted black with white stripes. The beige model attracted twice as many blood-suckers.

“Body-painting began long before humans started to wear clothes. There are archaeological finds that include markings on the walls of caves where Neanderthals lived,” Susanne Akesson, professor in the biology department at at Lund University in Sweden, said in a news release. “They suggest that they had been body-painted with earth pigments such as ochre.”

Insect glue helped researchers track the number of blood-suckers attracted to the three models.

Scientists also tested whether the models’ positioning affected their allure. Models standing up attracted more females, while models lying down attracted both sexes.

“These results are in line with previous experiments in which we showed that males gravitate towards water in order to drink and land on surfaces that reflect horizontal, linear polarized light, such as signals from a water surface,” Akesson said. “Females that bite and suck blood from host animals respond to the same signals as the males, but also to light signals from in the vertical plane, such as the standing models.” For more details click here

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This report researches the global Marine Anti-Corrosion Coating market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions.

This study categorizes the global Marine Anti-Corrosion Coating breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.

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Global Marine Anti-Corrosion Coating market size will increase to Million US$ by 2025, from Million US$ in 2017, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Marine Anti-Corrosion Coating.

This report focuses on the top manufacturers’ Marine Anti-Corrosion Coating capacity, production, value, price and market share of Marine Anti-Corrosion Coating in global market. The following manufacturers are covered in this report:
AkzoNobel
Jotun
Hempel
CMP
Kansai
PPG
Nippon Paint
KCC
BASF
Sherwin-Williams

Marine Anti-Corrosion Coating Breakdown Data by Type
Pure Epoxy Paint
Modified Epoxy Paint
Alkyd Paint
Other

Marine Anti-Corrosion Coating Breakdown Data by Application
Ships
Containers
Offshore

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Marine Anti-Corrosion Coating Production Breakdown Data by Region
United States
Europe
China
Japan
Other Regions

Marine Anti-Corrosion Coating Consumption Breakdown Data by Region
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Central & South America
Brazil
Rest of South America
Middle East & Africa
GCC Countries
Turkey
Egypt
South Africa
Rest of Middle East & Africa

Read Detailed Research Report at: https://www.qyresearchreports.com/report/global-marine-anti-corrosion-coating-market-insights-forecast-to-2025.htm

The study objectives are:
To analyze and research the global Marine Anti-Corrosion Coating capacity, production, value, consumption, status and forecast;
To focus on the key Marine Anti-Corrosion Coating manufacturers and study the capacity, production, value, market share and development plans in next few years.
To focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
To define, describe and forecast the market by type, application and region.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends and factors driving or inhibiting the market growth.
To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
To strategically analyze each sub market with respect to individual growth trend and their contribution to the market.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.Read more: http://www.digitaljournal.com/pr/4072691#ixzz5ZxAFhoBr

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The Marine Chemicals Market report embarks with industry overview which interprets value chain structure, industrial environment along with regional analysis, application, market size, and forecast. It provides overall Analysis of Marine Chemicals Market with industry structure, types, applications, regions, competitors and forecast period from 2018-2025. It also determines investment opportunities and probable threats in the industry based on an intelligent analysis. Moreover, the report serves an inclusive analysis of this market by volume and value.

In this Study, The Years Considered to Estimate the Market Size

  • History Year: 2013 – 2017
  • Base Year: 2017
  • Estimated Year: 2018
  • Forecast Year: 2018 – 2025

Top manufacturers of Marine Chemicals Market are: Total Group, Aqua , CHEMO , Unitech Chemicals, Wilhelmsen Holding, Anmar Industrial Chemicals, ERTEK Chemical, Unikem Holdings, Star .

Above Players operating in the industry are investing in research and development activities to innovate new products and gain a competitive edge over their competitors.

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 Market Opportunities & Challenges, Risks and Influences Factors Analysis:

  • Market Opportunities and Drivers
  • Market Challenges
  • Market Risks/Restraints

This report includes market size, segmentation data and geographical analysis of market growth trends, leading companies and microeconomic information.

Types: Rust Converters & Primers, Cleaning And Maintenance Chemicals, Fuel Treatment Products, Electrical Equipment Maintenance Chemicals, Boiling Water & Condensate Treatment Chemicals, Other.

Marine Chemicals Market by Applications: Military Ships, Civilian & Commercial Ships.

Several important Key questions answer covered in this Marine Chemicals Market research report:

  • What is status of Marine Chemicals Market? –This Overview Includes Analysis of Scope, Prospect, Growth trend, Sales by regions, manufacturers, types and applications.
  • What trends, challenges and barriers are influencing its growth?
  • What is Marine Chemicals Market forecasts (2018-2025)? – Considering Sales, Revenue, Growth rate, Price and Trends for Regions, Types and Applications?
  • What will be the market size and the growth rate in 2025? –What are the key factors driving the global Marine Chemicals?
  • What are the key outcomes of the distinct analysis of the Report-Analysis done by considering prime elements?

Have Any Query? Ask Our professional @ https://www.industryresearch.biz/enquiry/pre-order-enquiry/12971719

Marine Chemicals Market regions includes:

  • United States
  • Europe
  • China
  • Japan
  • Other Regions

Reasons for Buying This Marine Chemicals Market Report:

  • Provides pin-point analysis for changing competitive dynamics.
  • It provides a forward looking perspective on different factors driving market growth.
  • It provides year up to 2025 forecast assessed on the basis of how the market is predicted to grow.
  • It helps in understanding the key product segments and their future.
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors.
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments.

In the end, the Market report makes some important proposals for a new project of Industry before evaluating its feasibility. Overall, the report provides an in-depth insight of 2013-2025 Global Industry covering all important parameters. Reference site

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Shalimar Paints explores options amid shifting business scenarios. The advertising catchphrase for Shalimar Paints is ‘Rang Desh Ka’ and for a good reason but more about that later. A recent report in the Economic Times said that the company, older than the Republic of India, is exploring various fundraising opportunities including investment from third parties or strategic investor to improve its performance.
This move comes in the wake of financial difficulty post  major fires at Shalimar’s Nasik and Howrah plants and Surender Bhatia, Managing Director, Shalimar Paints is optimistic of turning things around despite the company  posting a net loss for the sixth straight quarter.

This is Rakesh and today on this edition of Digging Deeper with Money control, we will talk about Shalimar Paints, a company that more than a hundred years after its inception continues to evaluate its place in shifting business scenarios. And explore various fundraising and course correcting opportunities

As for the Rang Desh Ka tagline, no other paint company can claim it because without Shalimar paints, the walls of the Rashtrapati Bhavan and Parliament House in New Delhi, Salt Lake Stadium, All India Institute of Medical Sciences, and the magnificence of Howrah Bridge in Kolkata would remain bereft of their distinct character. And oh, the Royal Palace in Nepal also is adorned in the colours of Shalimar.

The prestigious responsibility to paint Rashtrapati Bhawan fell upon the brand when President VV Giri chose the paint over its competitors; the company also has an uninterrupted track record of painting the Howrah Bridge since 1948/49. The bridge is painted every eight or 10 years and it takes almost a month-and-a-half to finish painting the aluminium pillars of the bridge.

Post the nineties, Shalimar Paints Ltd foresaw changes in a fast-growing market and according to a 2003 report in Financial Express, it began to set an agenda to put a new professional core management team at its helm, and to stake its claim upon what was then a Rs 5,500 crore paint market in India.

The emphasis according to the piece was to be on a stronger supply chain management, quality control, efficient service standards, a wider array of products and strategically located manufacturing plants in all four corners of the country.

The company was hoping to capitalise on the decorative segment and exponential growth in rural and semi-urban markets. An outreach program with painters meeting in rural areas to drive sales and spread information was also on the anvil.

And in keeping with its credo of ‘desh ka apnawala’ paint, Shalimar was also counting on its road-marking paints business to grow with a spurt in the country’s expressway and highway projects. Shalimar then was the sole maker of road marking paints in the organised sector, having perfected the road paints technology capable of drying paint in just five minutes.

According to the Financial Express report, Shalimar had also forayed into manufacturing automotive paints in the late 1970s and early 80s and had been the sole paint supplier for Rover cars sold in India. And it also had a tie-up with the iconic Standard Herald.

But over time it became increasingly hard to compete with players like Goodlass Nerolac, Asian Paints and Berger Paints and more. Even as the company tried to reclaim its space in this segment,  it hoped that the decorative paints business would drive its growth.

In keeping with more evolved colour palettes, Shalimar had also begun to offer a colour tinting service called Color Space via a state-of-the-art machine computerised to mix and match imported colourants with high-quality bases.

Before we tell you how these plans panned out, let us go back in time a bit and narrate the story of the birth of Shalimar Paints.

The beginning

It is ironical of course, that the paint of Indian aspirations was not ideated by an Indian family empire so yes this deep dive is not about an Indian business clan as much it about a brand that is now part of the great Indian family of painters, dealers, consumers and contractors.

In 1902, two British entrepreneurs AN Turner and AC Wright ideated and set up Shalimar Paints Colour & Varnish Ltd right on the banks of river Hooghly, near the Botanical Gardens.  It was the first paint manufacturing plant in South East Asia.

This move demanded some amount of luck as there were no raw material suppliers or distributors at the time. Still, for over a decade, Shalimar remained a solo Indian player and continued to thrive despite two world wars and the entry of other foreign players like Elephant Oil Mills, Goodlass Wall, British Paints and Jenson & Nicholson and more.

With time, multinationals began to show interest in buying the company.

In 1928, the ownership changed hands and went to Pinchin Johnson & Associates of the UK who bought the company and assimilated it into their marine division called the Rod Hand Composition Co.

In 1963, management control of Shalimar went to Turner Morisson & Co. The company was then given the name it is known by today. Shalimar Paints Ltd.

By this time, the company had begun to dominate the industrial paints segment especially in marine paints, aviation coatings and large scale painting of thermal power plants.

In 1964, another shift happened when Shalimar became a part of the Courtalds Group of US with a 40 percent holding while another 20 percent was held by the Mehtas of Jardine Henderson.

Foreign ownership of Shalimar was diluted in the seventies when the Foreign Exchange Regulations Act, or FERA, was passed and commanded that foreign companies could only be minority shareholders in Indian firms. Because of this move, many foreign firms like IBM and Coca-Cola shut down their India operations and Shalimar, too, was at the crossroads. Shalimar then tapped the capital market and the foreign holding in the company was reduced to 60 percent. It was during this period that many competitors zoomed ahead.

During the years spanning between 1985 and 1990, the Courtaulds equity shares were sold to SS Jhunjhunwala of Hong Kong’s Delta Nominees and OP Jindal of the Jindal Group bought out the 20 percent stake from the Mehtas of Jardine Henderson.

The interesting trivia related to the ownership of OP Jindal Group is that once the Shalimar lunch served by the company was fit enough for kings with eleven sumptuous courses complete with drinks and desserts!

In 1972 Shalimar went public and in 1989, the company was acquired by the OP Jindal Group and the Hong-Kong based SS Jhunjhnuwala Group. From May 2015, the company is being managed by Mr Surender Bhatia as whole time director. Over the years companies like the Kansai Nerolac, US-based Sherwin Williams and even Asian Paints have eyed Shalimar Paints for a buyout.

Evolving strategies

As we said before, the company began to think forward in terms of new strategies in 2003. By then Shalimar had already set up its first plant outside Kolkata in 1992 at Nashik, Maharashtra. Then, in 2003, it acquired a plant in Sikandrabad near Delhi. In 2008, it entered into technical collaboration with KCI, Korea for pre-coated metal coatings.

In 2013, Shalimar Paints began what it called a “journey of strategic transformation” to aim at the top spot in the decorative paints segment. The company has figured decisively that today, it is key to become more consumer-centric and to offer more options by growing its decorative paint options.

Shalimar Paints today, Wikipedia informs, is present in over 2,000 cities and towns of India through a network of more than 8,000 dealers. The company has three manufacturing units in Howrah, West Bengal; Nashik, Maharashtra; Sikandrabad, Uttar Pradesh and a new plant is coming up in Goomidipoondi, near Chennai, Tamil Nadu. It has two Research & Development centres in Howrah, West Bengal and Nashik, Maharashtra, focusing on technology, product and process innovations. The company has a continuously expanding range of products in decorative paints and industrial coatings in both interior and exterior paints.

The company’s fortunes saw a resurgence in the early 2000s when the sector housing and infrastructure projects began to boom.

A future-forward vision

In 2014, Forbes India reported though that the company’s over-reliance in the past on the industrial market where, and we quote, “margins are low and business lumpy—reduced Shalimar to a shadow of its former self.”

According to this report, in 2014, in the five-player paint industry (excluding regional companies), Shalimar was the smallest. The company, said Forbes, was behind Asian Paints, Berger Paints, Kansai Nerolac and AkzoNobel (formerly ICI Paints). It closed in 2013 with Rs 483 crore in sales, compared to Asian Paints’ Rs 10, 418 crore.

The Forbes report narrates how subsequently board members Ratan Jindal, who runs Jindal Stainless Steel, and Girish Jhunjhunwala of Hind Group hired  Sameer Nagpal, former vice president of industrial products company Ingersoll Rand (India), as CEO and managing director. The move was in the hope of increasing company profitability and improving valuation for investors. This is also when the company intentionally focussed its resources on the more profitable and fast expanding decorative paints segment.

We quote Forbes, “Instead of pouring money down lost causes, Nagpal started plugging the holes in Shalimar, the biggest of which was poor product quality and lack of brand recall. His initial research threw up many interesting insights, the most important of which was the discovery that it’s not always the customer, but the painter, who decides what brand to use. Painters care about timely availability and quality; it is their credibility at stake. Simply put, if they run out of paint in the middle of painting a wall, they need a replenishment of the exact shade of paint, otherwise they have to repaint the entire wall. It was here where Shalimar had stumbled: Even though it never stopped manufacturing products such as emulsions, protective coating and top coats, its quality diminished with each passing year.”

Nagpal also found that in the absence of quality checks and late payments to suppliers, the raw material was not up to the mark. He enforced a new quality control policy, to ensure that every product was put through new checks and balances.

He also noticed issues at the distribution level and says Forbes and we quote,” he pushed for the streamlining of depots that earlier worked with no strategic planning.   He introduced one more layer in the form of a centralised distribution center to help declutter its depots. And, most importantly, he set up a forecasting cell to give the company an idea of how future demand will play out, which would enable factories to take decisions accordingly.”

Continues the Forbes report and we quote again, “Nagpal also had some cleaning up to do on the dealer front. Of Shalimar’s 8,000 dealers, 6,000 were doing business worth only Rs 10 lakh (or less) with them.  Such small-scale of business leads to zero brand loyalty. To make matters worse, with slow sales velocity, dealers took as many as 90 days to pay Shalimar.

Nagpal decided, with his limited resources, to create some pull for the brand among dealers as well as painters. He regained lost ground with painters by holding regular workshops—a common practice among brands like Asian and Nerolac. Dealers were incentivised to recommend Shalimar, and were offered better terms of trade if they reached certain targets. This, along with dealer engagement, led to a 34 percent jump in decorative paints sales for its top 745 ‘club’ dealers.”

He also focussed on branding and advertising and Shalimar invested in an Rs 10-crore advertising campaign crafted by Wieden+Kennedy (the company that made Nike a household name and has worked with the homegrown Indigo Airlines and Forest Essentials).

What has held the company in the past through the various shifts in its fortunes, says the article, was that as an industrial paints company, despite its depressed profitability, it showed consistent top line and bottom line growth. We quote from the piece, “From 2002 to 2008, the stock even outperformed Asian Paints on the Bombay Stock Exchange. And in the last 10 years, it has given a compounded annual growth rate of 21 percent. Still, given its margin profile of 2 percent versus the industry average of 11 percent, its valuation is a fraction of its peers.”

So focusing aggressively on the   decorative paints market has to be a well-calculated risk because it involves investment not just in new team leaders but also in the overhaul of the company’s IT back-end, depots and tinting machines.

In a 2014 interview to The Hindu, Nagpal seemed upbeat and we quote him, ”  With focus only on the industrial segment and due to a combination of other factors, we missed the bus on consumer segment — decorative. We are now targeting growth and improvements in profitability to carve out a niche in this segment. We are now changing our strategy from industrial to decorative. We are working on the key success factors for this business. Now, we have articulated our positioning as “the art and science of paint”. Most of the other paint companies are focusing on emotion and colour, but we want to focus on paint and its quality. If we are able to successfully communicate the new positioning, our job will be done. So, our art and science strategy has two levels. First level is to offer good quality, and second level is to offer value proposition that others don’t. Why are we saying this? Shalimar was South-East Asia’s first paint company.”

So yes, in a way, the company has come full circle. As it colour corrects its course, it looks forward to reaffirming its place not just in history but in the future, and also show even big, storied companies need to alter their narratives with the changing times. https://www.moneycontrol.com/news/podcast/podcast-digging-deeper for more details on this.

Call on us at Chemic Integrated Services for all your paint need.

PPG launches high-performance sigmasheild 880 coating for US & CANADA.  PPG is a major supplier of paints, coating, and specialty materials. As per trusted sources, the ultra-durable coating meant for vessels and rigs offers one coat and direct-to-metal protection along with quick curing at extremely high moisture levels, including underwater immersions.

The product provides superior abrasion, seawater, impact and corrosion resistance along with advanced cathodic disbondment protection and exceptional resistance to chemical splashes and spills, claim sources. Its shorter dry-to-touch implies that assets’ return to services can be accelerated, while the coating continues to cure upon water immersion.

Al Kaminsky, Marine Manager, Protective and Marine Coatings at PPG, U.S. & Canada said that currently existing offshore marine and energy assets, be it oil or gas rigs, wind farms or vessels, need a high level of corrosion protection when subjected to extreme operating environments.

Kaminsky further mentioned that PPG SIGMASHIELD 880, the surface-tolerant epoxy exhibits PPG’s commitment to enable users to manage applications & maintenance costs..

Reportedly, PPG announced the creation of a new marine sales team in the U.S. and Canada that will focus on offering their expertise and advice throughout the complete range of PPG marine coatings. Scott Doering, Director of Sales, Protective and Marine Coatings at PPG U.S, stated that this focused commercial marine group will cater to shipyards across the U.S. & Canada by providing in-person support as well as owner support.

Doering further added that the company will continue developing industry-leading solutions that offer application efficiencies and enhance product performances, minimizing downtime and owner costs while ensuring protection across full range of fixed and floating marine assets.

In a bid to enhance its high-performance coatings product portfolio, PPG lately declared the launch of its new PPG NOVAGUARD 810 ER coating, which happens to be the company’s first product aimed at USA and Canada’s tug and barge tank lining market, claimed sources. http://packingmaterials.org/ppg-launches-high-performance-sigmasheild-880-coating-us-canada/

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