TEHRAN, Nov. 6 (Xinhua) -- Iran plans to establish a shipping line to handle its petrochemical exports, Financial Tribune daily reported on Monday quoting an Iranian petrochemical industry official as saying.
To accomplish the plan, "petrochemical holdings should join hands to form a shipping company for the exports of petrochemicals," the managing director of Iran's Petrochemical Commercial Company, Mehdi Sharifi-Niknafs, said on Sunday.
"Last year, domestic companies paid 1.5 billion U.S. dollars for the shipment of petrochemicals and polymers" which amounted to about 15 percent of Iran's revenue from petrochemical exports.
Therefore, it would be imperative to set up a joint shipping company for petrochemicals to cut shipping costs, Sharifi-Niknafs said.
Iran sells 30-35 million tons of petrochemicals, polymers, liquefied gas and condensates, a type of ultra light crude per year, according to the official.
With crude prices trading well below their peak levels in three years, "it is high time to build or purchase new tankers for petrochemicals and liquefied gas," Sharifi-Niknafs added. Enditem
A single purchase
