Brazil is new market as Iran ups petrochemical sales

Brazil has emerged as a new destination for petrochemical shipments from Iran which is tapping new markets to compensate for sliding oil sales.

Several test cargoes have been sent to Latin America’s biggest economy in recent weeks. According to Reuters, citing ship-tracking data, at least 10 vessels carrying petrochemicals each made at least two voyages from Iran in November.

The news agency quoted Carlos Millnetz, a director at chemical company Eleva Química Ltda based in Brazil’s southern Santa Catarina state, as saying that they had been importing urea from Iran.  

“Iran wanted to diversify the destinations, they were looking for a Brazilian partner, and we thought it was a good opportunity,” he said.

Reuters said at least 230,000 tonnes of urea had already been booked for Brazil in recent weeks, which included two shipments for chemical company Eleva Química Ltda, based in Brazil’s southern Santa Catarina state.

Two Iranian vessels made deliveries to Imbituba port in southern Brazil between March and April bound for Eleva Química, it added.

Reuters is noted for acting as a virtual informant for the US government, reporting in great detail on every international trade move by Iran, with the apparent goal of curbing it through sanctions. 

China and India are Iran’s established markets for petrochemical products. Neighboring Pakistan is reportedly a new customer and received some overland deliveries.

Since the start of the year, at least 10 cargoes of methanol have been shipped to China from Iran, while multiple shipments have been made to India, including several cargoes of ammonia.

Petrochemical exports are a crucial boon to Iran’s derive to weather draconian US sanctions which mainly aim to dry up the Islamic Republic’s oil exports.

Iranian officials say the wide diversity of petrochemical products and huge international demand for them because of their quality and price make the industry unsanctionable.

SS