Iran’s June-loading LPG exports more than halved from May, but trade sources said the latest US Treasury Department sanctions on Chinese, Hong Kong and UAE firms tied to the producer’s petrochemical exports would have minimal impact on Iran-China trade in the coming months.
According to the Platts, Iran’s June-loading LPG exports fell to 386,000 mt from 859,000 mt in May, which were the highest monthly volume since sanctions imposed in 2014 and 2018.
Cargoes loading in June lagged the monthly average in the first four months this year, of around 442,550 mt, shipping sources said. However, taking into account the peak loadings in May, shipments in the first five months averaged 525,840 mt, they said.
The monthly average for first-half 2022 is 520,533 mt, according to shipping sources, surpassing the 500,000 mt monthly average needed for whole-year exports to reach the projected 6 million mt.