Flint Group has announced a fresh round of price increases for offset inks for European customers, citing problems sourcing raw materials due to stricter environmental regulations.
This includes new environmental legislation being introduced by the International Maritime Organisation (IMO) in 2020 to limit the amount of Sulphur in marine fuel oil, forcing the global marine fuel industry to move to low Sulphur content oils. However, these low sulphur content oils are the primary raw material feed stock used to produce carbon black for the printing industry. The increased demand has pushed prices up from carbon suppliers by 20-30 percent.
In addition, stricter environmental regulations in both India and China on pigments and base chemicals manufacturing has seen many factories closed down, which has also led to a shortage of supply and therefore higher prices.
Flint Group also says that its freight costs have gone up, with Michael Podd, Flint CPS Chief Procurement Officer and Senior Vice President Global Sales, noting that the rucking industry has faced driver shortages for years and adding: “The situation has worsened over time, and is exacerbated now by equipment shortages and increased fuel costs. All modes of transportation have increased in cost.”
The end result is that Flint will be increasing the prices of its offset inks in Europe, though those increases will vary depending on product lines and the mix of raw materials that are used in their production. Customers should get in touch with their sales contacts within Flint to see how this will affect them.