Sinopec News: LPG Domestic Main Port Storage Capacity Rate Continues to Decrease for 4 Consecutive Months

As of the week ending in late January, the domestic main port storage capacity utilization rate dropped to 36.36%, the lowest level in nearly three years. International market prices remain high, and domestic chemical plants are experiencing significant losses. The operating rate of PDH units has fallen to around 62%, with some companies even halting import resource intake since October of last year. Additionally, some aging ships are experiencing severe delays in unloading, leading to a continuous four-month decline in domestic main port storage capacity utilization. Before the Spring Festival, the volume of imported gas arriving at ports is expected to remain at a median level, with import companies prioritizing volume throughput. Port storage capacity utilization is expected to stay below 40%, fluctuating at a relatively low level. (Zhuochuang Information)