News ID: 209729
Published: 0326 GMT February 09, 2018

Iran's January LPG exports jump to 520,000 tons, the highest since sanctions ended

Iran's January LPG exports jump to 520,000 tons, the highest since sanctions ended

Shipments of LPG from Iran made a strong start to the year, rebounding to 520,000 tons in January, the highest since Western sanctions were lifted in January 2016, updated fixtures from shipping sources showed.

The latest volume is 146,000 tons more than initial figures published in mid-January, according to shipping sources, Platts reported on Friday.

It is also up 39.4 percent from 373,000 tons in December 2017, when shipments posted the first month-on-month increase in three months, after exports started declining in September due to lower output at the South Pars Gas Field amid a two-month maintenance.

In 2017, Iran's LPG shipments totaled around 3.5 million tons, with the highest monthly volume seen in August at 423,000 tons before the maintenance, which ended around mid-November, sources said.

Iranian exports are helping to fill shortfalls of spot supply from the Middle East, as major producers Saudi Arabia, the UAE, Qatar and Kuwait are exporting less spot cargoes as they focus on fulfilling term contracts and meeting domestic petrochemical demand.

Preliminary figures so far showed 132,000 tons fixed for lifting in February in three cargoes, shipping sources said.

Thai trader Siam Gas has lifted aboard the VLGC Ming Long a cargo comprising 33,000 tons of propane and 11,000 tons of butane from Iranian Gas Commercial Co., or IGCC, at Assalouyeh on February 5 for delivery to Guangdong, in southeast China, according to shipping sources and cFlow, S&P Global Platts trade flow software.

The vessel is now in the Persian Gulf and is due to reach its destination around February 28, cFlow shows.

Naftiran Intertrade Co., or NICO, a subsidiary of National Iranian Oil Co., lifted a 44,000-ton evenly split cargo from IGCC at Assalouyeh on February 4. The vessel is currently off port limits at Mumbai, cFlow showed.

Trading firm Pacific Petrochemical is scheduled to lift a cargo comprising 33,000 tons of propane and 11,000 tons of butane aboard the VLGC Gas Courage from IGCC at Assalouyeh. The vessel is currently near the Strait of Hormuz.

 

 

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Latest fixtures also showed that NICO had lifted on January 21, a 44,000-ton evenly split cargo from Assalouyeh from IGCC for delivery to Mailiao in Taiwan aboard the vessel LPG Capricorn. The vessel is currently off Mailiao on the island's west coast.

International trading firm Petredec lifted aboard the VLGC BW Thor a 44,000-ton evenly split cargo at Assalouyeh on January 24, which reached Teluk Semangka at Indonesia's Sumatra Island early this month and set sail on February 6. The vessel is now in the Indian Ocean en-route to Fujairah.

Petredec also lifted a 44,000-ton evenly split cargo from Persian Gulf Petrochemical Industry Commercial Co., or PGPICC, from Assalouyeh last month aboard the VLGC BW Sakura, which reached Teluk Semangka on February 8.

Petredec had discharged on January 23 at Teluk Semangka a 44,000-ton evenly split cargo aboard the VLGC Pacific Shanghai, which it had lifted from PGPICC.

Platts earlier reported that other January-lifting cargoes from Assalouyeh were Siam Gas' cargo comprising 33,000 tons of propane and 11,000 tons of butane lifted from IGCC aboard the Ming De, which arrived at Thailand's Sri Racha terminal and then sailed for Hukou in China on January 31, and NICO's 44,000-ton evenly split cargo abroad the BW Tyr, which discharged at India's Mumbai and Visakhapatnam between January 18 and 24.

Other January shipments were: Iranian trader Caspian Petrochemical's cargo comprising 33,000 tons of propane and 11,000 tons of butane aboard the Pacific Rizhao, which was discharged at Qinzhou in southern China; as well as a 24,000-ton mixed cargo and a 20,000-ton mixed cargo aboard the Gas Dignity, which arrived in Ningbo on February 8.

Iranian trading firm Triliance discharged a cargo from IGCC comprising 33,000 tons of propane and 11,000 tons of butane aboard the Gas Crystal at Guangdong on February 8.

Triliance also discharged a 5,000-ton package aboard the vessel EverRich 6 at Pakistan's Port Qasim last month, while trading firm Global Reality discharged a cargo comprising 33,000 tons of propane and 11,000 tons of butane from IGCC aboard the Gas Jasmine at Guangdong on February 8.

International trading firm Glencore has discharged a cargo comprising 6,000 tons of propane and 31,000 tons of butane aboard the SeaSpeed at Mombasa in Kenya on February 8.

   
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