06 November 2012 11:47 [Source: ICIS news]
SINGAPORE (ICIS)--Iran’s Arya Sasol Petrochemical Co (ASPC) has received a license that will allow the company to resume exports of polyethylene (PE) amid the government’s ban on overseas shipments of selected commodities, a source close to the company.
“Like what we said last week, we have told our customers that the issue in exporting will be resolved in a week to 10 days’ time,” the source said.
The license given to Arya Sasol was written in Farsi, the source said.
“We are waiting for the translation, which maybe as early as tomorrow,” the source added.
Arya Sasol, which produces low density PE (LDPE) and high density PE (HDPE), is expected to make an announcement to resume exports by this week, the source said.
“ASPC has its plants located in the special economic zone. It makes perfect sense that the ban does not apply,” said one of the company’s buyers in New Delhi, India.
Iranian PE producers were given assurance by the International Transport Companies Association of Iran (ITCA), in a letter in Farsi dated 6 November, that export licenses will be issued to them, market players said.
The license will only apply to producers and will not be issued to traders, they said.
Iran’s key PE exporters include Arak Petrochemical, Jam Petrochemical, ASPC, Laleh Petrochemical , Mehr Petrochemical Co (MHPC), Marun Petrochemical and Amir Kabir Petrochemical Co (AKPC).
MHPC, which produces HDPE, has applied for the license and is hopeful that the licence will be issued within two weeks, a buyer of MHPC based in China said.
“[MHPC] is in the hurry to export, because the containers are just accumulating at the port and customers are waiting,” the source said.
The final list of commodities to be banned has yet to be released by the local authorities, they added.
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