PODCAST: Europe ethanol spikes to record levels as chemical tankers store petroleum products
Will Beacham
28-Apr-2020
BARCELONA (ICIS)–Europe ethanol prices have spiked to record levels while chemical tankers are being used to store low-priced petroleum products.
Listen to this podcast interview with Clare Pennington who covers ethanol and shipping for ICIS.
- New quarterly ethanol contract saw 20% plus increases to highest prices on record
- Ethanol producers have to restrict volumes even to regular customers
- New players start to produce hand sanitizers
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Sanitizer production jumps have meant full year’s worth of demand in January-April 2020 for some producers
- New ways of reporting ethanol prices being examined beyond quarterly contracts
- Demand for chemical tanker shipping has declined in line with chemical markets
- Shipping rates are inching down
- Chemical tankers now being used to store clean petroleum products such as diesel, gasoil, gasoline
- This could tighten chemical tanker supply
Podcast interview by Clare Pennington and Will Beacham
Read more analysis of chemical market trends in this week’s free edition of ICIS Chemical Business.
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