Reported about 11 hours ago
Ethane traders Satellite Chemical USA and Vinmar International have received letters from the U.S. government that permit them to load ethane onto vessels for China but prohibit unloading without authorization. This follows a recent licensing requirement that has stalled shipments, causing vessels to linger off the U.S. Gulf Coast. The restrictions have raised concerns about oversupply and could negatively impact profits for U.S. ethane producers, as about half of all U.S. ethane exports are directed to China.
Source: YAHOO