China's imports of LPG growing at blistering pace

• China's LPG Imports [61280 bytes]

China's LPG imports during the first 9 months of 1996 outstripped those for all of 1995.

As of the end of September, China had imported 2.4065 million metric tons of LPG in 1996, compared with the 2.3136 million tons imported in 1995.

January-September LPG imports recorded a 58.2% growth from the 1.5211 million tons of the same period in 1995. While far less than last year's 92.4% jump, the growth rate for LPG imports still ranks the strongest of all Chinese petroleum products imports.

Of total LPG imports during January-September 1996, 1.7547 million tons, or 72.9%, went to Guangdong, 50.4% more than same period last year.

For the provinces in East China, LPG imports are growing at an even higher rate, by 80% to 556,900 tons, following a 60% increase in January-September 1995 from the same period in 1994.

The rest of the imports went mainly to Guangxi and Hainan.

Imports from Middle East continue to increase, reaching 1.7943 million tons by the end of September, accounting for 75% of the total imports during January-September against 58% for the same period in 1995. This reflects the dominance of the floating storage trade.

The average LPG import price was $204.90/ton during the first 9 months of this year, more than $14/ton higher than same period in 1995.

That price is expected to rise still further as demand increases this winter. The November price jumped $45/ton from the previous month to $250/ton, while the premium on imported LPG doubled due to increased demand in the U.S., Mexico, and Europe.

With the winter still to come, China's LPG imports are predicted to grow robustly for the rest of the year.

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