18 January 2014 00:01 [Source: ICIS news]
LONDON (ICIS)--Movement in the propane barge market is close to non-existent in mainland western Europe, sources said on Friday.?xml:namespace>
With minimal demand, refineries are struggling to offload product despite tumbling prices.
FOB barges were assessed at $775-785/tonne on 17 January, down $95/tonne on the previous Friday.
“Refineries don’t know what to do with the product. Everything is full – there’s no business at all. It’s painful; it’s difficult at the moment,” said one trader.
Ongoing good weather in Europe has ruled out the traditional winter heating demand for propane, while supply has been boosted by 600-625 42-45 tonne propane rail cars for sale at the Polish border.
“[There is] no business. Nothing demanded; absolutely nothing from heating,” added another trader.
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