Tank operators increase storage fees for methanol

China coastal methanol inventory has been increasing since the beginning of 2020. It has reached 1.05 million tons as of the week ending May 21 (including tank inventory in both East and South China ports), compared to 0.75 million tons in the same period of last year. As a result, tank storage space is reaching the maximum capacity. It is said that vessels at East China ports now have to wait for 15-20 days to discharge cargoes. In order to enhance the circulation of goods, several tank operators have raised the storage charges for methanol.

In mid-May, Changzhou Jintao increased the storage fees. It charges investors 3yuan/mt a day four days after the delivery date, and increases the charges by 3yuan/mt every week. Hence, investors should pay 270yuan/mt a month if the goods are not cleared within a month.