More methanol from China headed to the US, chartered by Sinochem

03 May 2013 19:34  [Source: ICIS news]

HOUSTON (ICIS)--The big discount between China and US spot methanol prices has prompted another large shipment out of the Yangtze river this week, according to information obtained from a broker on Friday.

The 15,000-tonne shipment from the Yangtze to the US Gulf will load by 5 May on an unnamed Formosa vessel chartered by Sinochem, with a freight rate of $72/tonne (€55/tonne), according to the broker.

That fixture and two other May methanol shipments from China highlight the large gap between spot prices in the two regions, which reached a five-year high recently.

($1 = €0.77)

By: Lane Kelley
+1 713 525 2653

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