LONDON (ICIS)--A vessel of Indian ethyl acetate en route to Europe has been delayed because of port congestion in India, sources said on Friday.
“An Indian vessel has been delayed,” a distributor of Indian etac said.
An Indian producer added: “The vessel I’m talking about was delayed in February. It’s not our vessel [carrying our volumes]. [There is a] three-week delay so far, it should arrrive [into Europe] at the end of March.”
The source added the delay results from port congestion in India.
“In India it’s the financial year end in March,” the source explained. “It means a lot of exporters have to rush out their cargoes to meet financial year-end targets. The ports get clogged with everyone trying to ship [cargoes] out.”