First Iranian methanol cargo booked to Europe since 2012

14 March 2014 18:20 Source:ICIS News

LONDON (ICIS)--A cargo of methanol has been booked from Iran to Europe, an importer said on Friday.

The shipment is understood to be the first cargo of Iranian methanol to be imported to Europe since the EU imposed petrochemical trade sanctions on the country in May 2012.

The 25,000 tonne lot has already loaded, and will discharge in an unspecified Mediterranean port.

Sanctions were temporarily lifted on 20 January, theoretically paving the way for Iranian methanol to resume flowing into Europe. Yet numerous obstacles remained, including difficulty in obtaining insurance, financing and arranging shipping.

“It took some time to get everything straight,” the importer said.

By Ross Yeo