GCC petchem exports to surge to 57m tonnes in 2015

26 October 2010 11:43  [Source: ICIS news]

BAHRAIN (ICIS)--The Gulf Cooperation Council (GCC) region is projected to witness a sharp surge in export volumes to 57,000 tonnes by 2015, given strong capacity additions in the Middle East, a top industry executive said on Tuesday.

"We are looking at around 70% increases in capacities for the top 18 commodities and close to 50% increases in their export within the next five years," said Leslie McCune, managing director at consultancy firm Chemical Management Resources.

McCune addressed industry players at the Second Gulf Petrochemical and Chemical Association Supply Chain Forum in Bahrain.

The GCC could face tightness in chemical container availability because of the strong increase in export volumes, he said.

"Polyethylene, urea and MEG will become largest exports by year 2015," McCune added.

The GCC countries are United Arab Emirates, Saudi Arabia, Bahrain, Oman, Qatar and Kuwait, according to the council’s website.

Shipping capacity in the Middle East was expected to grow 11% this year, equivalent to an additional 1.45m TEU (twenty-foot equivalent units) to existing fleet size, McCune said.

The two-day GPCA Supply Chain Forum concludes today.

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By: Yu Guo
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