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India will soon construct a new LPG import terminal in Kochi, Kerala. Cochin Port Trust will oversee the construction on behalf of Indian Oil Corporation (IOC).
The port has awarded a ₹217.33-crore project to RKEC Projects Private Limited, Visakhapatnam to work on the jetty for super gas tankers. RKEC will set up a Multi User Liquid Terminal (MULT) at the Puthuvypeen jetty that will allow anchoring of super gas tankers. The project includes construction of a terminal with a 230 meters long berth for handling LPG and petroleum products worth ₹182.76 crore and a barge berth that will handle bunkers at a cost of ₹34.57 crore.
Expected to be completed in 2017, the terminal will import 6 lakh tonnes of LPG annually in the initial stage.
The MULT will enable import of LPG by IOC. Currently, IOC imports LPG via Mangaluru Port and supplies it to various destinations in Kerala by long road haulage. The new terminal will end Kerala’s dependence on LPG tanker lorries, that poses a major challenges given the frequent accidents.
Besides, there are also plans to connect the new import terminal with IOC’s Udayamperur LPG bottling plant while also connecting BPCL-Kochi Refinery through pipelines.
Ashutosh Gupta, Chief Manager (LPG-Operations) at Indian Oil Corp Ltd (IOC) will lead discussions on ‘India’s LPG Market Development & Growth Outlook’ at 10th LPGTrade Summit on 23-25 November, 2015, in Istanbul.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.
03 Nov, 2015
Iran is planning to increase LPG exports to African and European countries. The country is already exporting a bulk of its LPG to Asian countries – particularly China, India and Pakistan. It also exports to Iraq and a few other neighboring countries.
China is one of the major importers of Iran’s LPG and sulfur. It’s estimated that Iran earns approximately $1 billion annually from LPG shipments.
Iran is in talks with Turkey for exporting LPG supplies as well as eyeing more supplies to its existing customer – India.
Due to the US-led sanctions, Iran is not able to ship LPG to European countries, but negotiations are being conducted to start exports to Spain, said Mohammad Ali Barati, the managing director of the Iranian Gas Commercial Company (IGCC).
Africa is another market that Iran is eyeing. It already exports LPG to Kenya through its main port of Mombasa. However, Iran is facing challenges of shipping to other parts of Africa due to the lack of large dockyard facilities. For the time being, it is looking at big ships to transfer their cargo to smaller vessels on high seas in order to export LPG to Mozambique, Ghana and West African countries.
Iran is also doubling its fleet of carriers for shipment of LPG to the international market. The country has added 15 carriers in the past couple of years to ship LPG cargoes to its clients.
10th LPGTrade Summit on 23-25 November, 2015, in Istanbul will analyse the LPG demand and supply chain in greater detail.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.
03 Sep, 2015
With the shale gas boom and the rising demand for ethane, LPG shipowners are starting to explore the nascent ethane shipping and VLEC market.
Germany's shipowner Hartmann Reederiei happens to be one of the first movers. The shipowner already announced its joint venture with Jaccar Holdings. The JV named United Ethane Carriers will commence commercially managing five 85,000 cu m VLECs.
Further Hartmann is expected to bareboat charter three 36,000 cu m liquid ethane gas carriers for 15 years. The carriers are being built at Sinopacific Shipbuilding and expected to be completed and delivered in 2016.
Traders believe that this new business has a lot of potential in the future as it is driven by shale gas.
Will other shipowners follow suit? How will this impact the LPG shipping industry? What will be the challenges and opportunities in LPG vs Ethane & Naphtha in Petrochemical Production?
Answers to the above will be shared at CMT's annual event - 10th LPGTrade Summit on 23-25 November, 2015 in Istanbul.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.
03 Jul, 2015