Iran’s Fanavaran to resume shipping methanol from 18 May

01 May 2013 08:54  [Source: ICIS news]

SINGAPORE (ICIS)--Iran’s Fanavaran Petrochemical will start shipping methanol from its 1m tonne/year methanol plant in Bandar Imam Khomeini from 18 May after it restarts the plant on 3 May, a company source said on Wednesday.

The company’s methanol plant was shut on 12 April for a month-long maintenance.

The company said that there will be sufficient methanol for export two weeks after the restart.

According to the supplier, compared with about two weeks ago, freight rates from Iran to India have dropped by around $20/tonne to $40-45/tonne, while the freight rates to the main ports in China have declined by $15/tonne to around $80/tonne.

Despite the drop, the Gulf freight rates were still higher than usual, because of limited shipowners calling on Iranian ports amid the UN sanctions, both suppliers and buyers said.

Methanol is used in the production of formaldehyde, methyl tertiary butyl ether (MTBE), methyl chloride, methyl methacrylate (MMA) and acetic acid.

By: Heng Hui
+65 6780 4359

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