July, August shipments of PE, PP delayed at ports in India, Saudi Arabia, Dubai, Abu Dhabi due to Ramadan; large supply of both resins expected to flood market when operations resume by early September
August 15, 2011
– Due to slowed port operations during the Muslim fasting month of Ramadan, significant quantities of polyethylene and polypropylene dispatches for July and August have fallen behind schedule, ICIS news reported Aug. 12, citing market sources.
The delay has caused backlogs at the Nhava Sheva port in India, the Dammam port in Saudi Arabia, the Jebel Ali port in Dubai and the Kalifa port in Abu Dhabi, according to the Surrey, England-based chemical news service.
Construction work has also exacerbated the problem at Nhava Sheva, Indian sources told ICIS, delaying shipments by up to three weeks.
Operations at the affected ports are expected to resume at their normal rates by early September.
At that point, PE and PP supply will likely flood the market, putting downward pressure on prices, Indian sources told ICIS.
The primary source is ICIS news, Surrey, England, Aug. 12, 2011.