In the same capacity the internet changed global business, many experts believe blockchain may be on track to become the next mega disruptor to global business.
The U.S. downstream industry is rapidly responding to the energy renaissance with pipelines and infrastructure to transport refined products to the Gulf Coast, northeast or nearby consumers.
Rapidly growing U.S. ethylene production and investment in new derivative capacity has increased the number of ports exporting plastics and opened new markets for U.S. producers, ClipperData told Petrochemical Update.
Port Houston is the first port to participate in a pilot program led by IBM and Danish shipper Maersk which aims to commercialize blockchain technology in the global oil, gas and petrochemical supply chain.
U.S. plastics are largely exported through Texas, but as export capacity is rapidly growing; exporters, processors, warehouse and distribution companies are looking for ways to diversify the supply chain and mitigate risk.
US supply chain groups are planning at least $155 billion in capital investments and nearly 80% of that spending will take place in the US Gulf, where chemical exports have already begun to soar, according to industry trade associations.
