The decrease in MEG port inventory was mainly due to the output cut and full tanks

The decrease in MEG port inventory was mainly due to the output cut and full tanks. ZPC, Yulin Chemical lowered operating rate and Satellite Petrochemical delayed the restart of one MEG unit. Meanwhile, tanks in Ningbo and Taicang were nearly full. Offtake in ports was active but the time difference between cargo offtake and discharge led to short term decrease in MEG port inventory.

MEG port inventory is likely to remain rangebound in February. There will be a lot of import cargoes to arrive in the second half of February. And for deep-sea cargo, one ship usually docks at several terminals. In some ports, discharges will be larger than the remaining tank space, which will result in longer time for discharging.