$BAK

Braskem Trading & Shipping (BT&S), a Braskem logistics unit, said the “Beautiful Future” LR1 naphtha vessel arrived at Brazil’s Port of Aratu on Aug. 12 and began operations. The IMO Type 3 ship can carry up to 89,500 cubic meters per voyage on US Gulf Coast to Brazil routes. BT&S expects the four-vessel fleet to cover 40% to 50% of Braskem’s naphtha import demand.

Braskem said it is developing bioacetone technology with Lallemand Biofuels & Distilled Spirits, using corn ethanol to produce bioacetone as a co-product without reducing fuel output. Braskem will handle market development for the US and Europe. Bioacetone is expected to be industrially available in 2028, after five years of development.

Reuters reports Braskem is in advanced talks with creditors on an out-of-court restructuring that could be filed in August 2026. The plan would rework more than US$10 billion of borrowings before a 24 Aug 2026 deadline. Creditors, including Elliott, are pressing Petrobras to inject fresh capital. Braskem posted net losses in 2025 and its preferred shares BRKM5 have fallen.

Braskem USA said it will open a Global Export Hub at the Port of Charleston, South Carolina, to serve international customers. The hub is expected to be completed by Q3 and support shipments of up to 450 million pounds of polypropylene and specialty polymers annually. Braskem will partner with the Port of Charleston and Frontier Logistics under a five-year agreement, while Houston export capacity continues.

Lallemand Biofuels & Distilled Spirits (LBDS) and Braskem announced a bio-acetone coproduction platform for corn-ethanol facilities. LBDS will engineer yeast for fermentation, while Braskem will provide separation technology and handle bio-acetone sales and market development. The companies cite global acetone demand of over 8 million tons per year and say the tech is available to the U.S. ethanol industry after five years of development.

Braskem’s bond tender and exchange offer were rejected by creditors, who say the restructuring lacked equal treatment and a new capital injection and that they had not reached the one-third support needed for an out-of-court deal. Creditors are pressing Petrobras, which holds a 36.1% stake, to provide fresh funding. Braskem has a 60-day court protection shield and missed July and August interest payments.

Braskem S.A. said its new controlling owners, including Shine I Investment Fund via IG4 and Petrobras, have filed with Brazil’s CVM and B3 to launch a tender offer to buy all remaining ordinary and preferred shares. The offer follows Petrobras and IG4’s purchase of control from a Novonor-linked entity. The deal is still shadowed by Maceió subsidence liabilities.

Banco Safra, a creditor of Braskem, appealed in São Paulo bankruptcy court to suspend the transfer of Braskem control to an IG4 Capital–advised fund. Safra says the deal’s debt-shield mechanism should apply only to competitive auctions and challenges the control-price method. Braskem’s seller Novonor disputes Safra’s standing. Braskem reported net debt of about $7.5B.

Braskem said its Braskem Trading Shipping unit launched the maiden voyage of Blooming Future, an LR1 chemical/product tanker named in China on May 8. The vessel is designed to transport naphtha and other raw materials with lower emissions, using biofuel-ready engines. Braskem expects about 30% lower CO2 vs its current average, or ~6,500 tonnes/year, and plans four LR1 tankers by early 2027.

Braskem SA director Mauricio Dantas Bezerra has filed a Form 3, disclosing his initial beneficial ownership of 500 Class "A" Preferred Shares in the company. This SEC filing establishes his baseline equity stake, indicating direct ownership of these shares. The company, trading under the symbol BAK, is highlighted with its market cap and recent news.