Still, producers built 45 million lbs of collective inventory, beginning March with 1.49 billion lbs on hand – just a few million lbs below the 2013 average.Final thought from The Plastics Exchange CEO Michael Greenberg:Spot resin trading increased this past week, but still fell short of exciting. Purchasing activity was unenthusiastic again and prices for both polyethylene and polypropylene shaved $.01/lb among all”modity grades. March PP contracts are following PGP contracts down $.015/lb in March; PE contracts should roll steady as there is not an industry wide price increase this month. Polyethylene producers have had such pricing power for the past 20 months that there is really no downstream consideration for price relief just whether or not a nominated price increases will take hold.
It has been two forevers since there was actually a full polyethylene contract price decrease,Drilling and protecting the environment are not mutually exclusive concepts if my memory serves, a deuce last came off in Nov 2012.HMAS Darwin has seized and destroyed more than three tonnes of cannabis resin with an estimated street value of $137 million dollars.The drugs were found hidden aboard a skiff in the Gulf of Aden on 16 March 2014.HMAS Darwin is currently deployed on patrol under the control of the Combined Maritime Forces and the Australian-led Combined Task Force 150.HMAS Darwin’s embarked S-70B-2 Seahawk helicopter located a dhow manoeuvring suspiciously.HMAS Darwin continued to track the dhow into the night and observed what appeared to be a transfer from the dhow to a skiff.
After an hour-long high-speed chase before dawn, HMAS Darwin intercepted the skiff. The boarding party discovered 3012 kilograms of cannabis resin in 151 sacks, each containing approximately 20 kilograms of hashish.HMAS Darwin’s Commanding Officer, Commander Terry Morrison, said the guidance and direction of the Australian-led Combined Task Force 150 and meticulous observation of suspicious activity was key to the seizure.”Today we removed these drugs from potential terrorist funding networks and demonstrated the effectiveness of the coalition effort,” Commander Morrison said.This seizure”es only nine days after HMAS Darwin worked closely with the French Navy to intercept and destroy approximately 650 kilograms of cannabis resin.