08 May 2012 10:30 [Source: ICIS news]
Correction: In the ICIS news story headlined “Methanol arrivals from Iran to China to fall further in May” dated 8 May 2012, please read in the 10th paragraph … Kharg Petroleum Co (KPC) … instead of … Kuwait Petroleum Corporation (KPC) … A corrected story follows.
SINGAPORE (ICIS)--Methanol arrivals from ?xml:namespace>
Major European insurers are ceasing coverage of oil and chemical exports from
Methanol exports from
“Iranian methanol producers have not been able to find any suitable ships to deliver methanol since 10 April,” a market player said.
Shipping companies in
The rates were at least $100/tonne (€77/tonne) after increasing to $95/tonne (€73/tonne) on 24 April, according to shipping companies.
This is compared to international freight rates from
Major methanol producers in
Kharg Petroleum Co (KPC) cut the run rates of its 660,000 tonne/year methanol unit on Kharg island to 50% of capacity, according to the company source.
According to industry sources, because of the difficulty in chartering ships for the delivery of methanol, some Iranian producers are cleaning vessels used for transporting oil with the intention of using them to transport methanol instead.
($1 = €0.77)
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