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Enterprise Product Partners loads 9 PGP cargoes from terminal; another 9 in August
HOUSTON, July 28, 2016 (PCW) –- Enterprise Product Partners on Thursday it had loaded nine polymer-grade propylene cargoes from its Enterprise Hydrocarbons Terminal on the Houston Ship Channel since first offering the service in mid-July. It expects to load another nine in August.
The PGP capacity at the facility is 5,000 mt/day.
With LPG margins to Asia and Europe now at razor-thin levels and increasing market chatter regarding cancelled spot and contract liftings, EPD confirmed the cancellations of three LPG cargoes from its Ship Channel marine terminal. In August, EPD has received notifications from customers cancelling five cargoes.
“We expect that the decrease in total gross operating margin from the cancelled LPG loadings will be more than offset by the associated cancellation fees and the additional fees earned from the PGP export activity,” EPD said. -- Samantha Hartke