Delayed Venezuelan MEG shipment destined for Europe in April

15 March 2013 13:04  [Source: ICIS news]

AMSTERDAM (ICIS)--A 4,000 tonne load of monoethylene glycol (MEG) that was due to be despatched from Venezuela to Europe at the end of February has been delayed to the last week of April, said a market source on Friday.

Speaking on the sidelines of the ICIS PET Value Chain Unlocking the Potential conference in Amsterdam, the Netherlands, the source said the vessel would be loading next week.

Since November 2012, Venezuelan supplier Pralca has been on force majeure on ethylene oxide (EO) and MEG at its plant in the Zulia province after an unplanned outage caused by boiler problems. Pralca was unavailable for comment.

Pralca is a subsidiary of Venezuela’s state-owned Pequiven. The plant is in Santa Rita in western Venezuela on Lake Maracaibo.

MEG traders in Europe said that the arrival of the Venezuelan cargo would be unlikely to have a significant impact on MEG prices in Europe because of MEG plant shutdowns scheduled for the second quarter in the region.

Additional reporting by Renee Lawrence

By: Caroline Murray
44208 652 3214

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