08 July 2013 21:32 [Source: ICIS news]
HOUSTON (ICIS)--US methanol imports in May dropped 33% year on year because of big drops in shipments from Trinidad and Tobago and two other major sources, according to data released Monday by the US International Trade Commission (ITC).
US methanol imports totalled 443.09m litres, compared with 656.76m litres in May 2012.
Shipments from Venezuela - historically the second largest source of US imports - accounted for almost half of the decline. The South American country’s shipments to the US plunged to 61.38m litres in May from 169.51m litres in May 2012.
Imports from Trinidad, the largest source of US methanol imports, accounted for about a third of the decline, falling by 18% to 336.45m litres compared with 409.85m litres in the same month of 2012.
Converting litres to metric tonnes, Trinidad exported 269,161 tonnes to the US in May, according to the ITC data, a sizable decline from 327,884 tonnes in the same month a year earlier.
The island country off the coast of Venezuela accounted for almost 76% of US imports in May. So far this year, US imports from Trinidad are flat compared with the first five months of last year.
Curtailments of supplies of natural gas have brought declines in Trinidad’s petrochemical production over the past two years.
Imports from another big source, Equatorial Guinea, also contributed to the decline in US imports, with the West African country shipping no methanol to the US in May, compared with 21.34m litres in the same month of 2012.
US methanol sellers include Methanex, BP, SABIC and Southern Chemical.
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