Jotun Coatings Announces Price Increase

Thursday, February 10, 2011

Jotun has acknowledged the steep rise in the cost of raw materials through 2010 used in some of their coatings. This rise in costs has significantly affected all paints and coatings manufacturers worldwide. Consequently, Jotun has been forced to increase prices on some of its products, but emphasises that it has not affected its entire range.

Throughout 2010 the market price of major raw materials used in coatings, such as epoxies, titanium dioxide, acrylics and metal-based materials has increased by up to as much as 50 per cent.

The surprisingly high global demand coupled with the downscaling of capacity following the 2007 financial crisis has caused an imbalance in the raw materials market for coatings, which has resulted in shortages of many raw materials and consequently caused prices to spiral.

Jotun Coatings expects that this situation will worsen in 2011, which began with the highest crude oil price since 2008, pressing prices further up on petrochemical-based raw materials and metal prices reaching new heights.
 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2094 sec (5 req/sec)