USA LPG Shipments for Asia Rise Amid LPG Prices Increasing in the Asian Markets
USA LPG cargo loadings shipped to Asia in August stood at 3.73 million tonnes and the volumes due for loading in September are expected to be around 4 million tonnes. The rise in the exports is triggered due to a rise in the LPG prices in Asian markets . CFR North Asia Propane was at USD 702 per tonne on August 30 which was a two week high, rising from one month lows of USD 676 per tonne on August 24. As per Energy Information Administration data, total USA Propane exports climbed 25000 barrels per day to 1.07 million barrels per day in the week ending August 20. And the exports have been above 1 million barrels per day mark for consecutive 11 weeks. The reason for price rise in Asian markets is strong demand which has remained firm in Asia due to increasing Propane demand from the startup of some new PHD plants such as Fujian Meide, Oriental Energy's Ningbo facility and Shandong Huifeng Haiyi Petrochemical. Jinneng Science and Technology is due to start up a PDH plant at Qingd...