On Monday, RBN Energy discussed the impending first export of Gulf Coast ethane out of the new Enterprise Morgan’s Point facility. Now, it appears, that cargo has been aborted.
The JS Ineos Insight has left its anchoring point offshore Galveston and is heading out of the Gulf. The vessel was to take on the first cargo of ethane to be shipped from the Enterprise terminal at Morgan's Point on the southern end of the port of Houston. The vessel anchored in the Galveston area on July 29 and left the area on August 3. Aborting the loading suggests that the terminal is not ready.
The JS Ineos Insight may now be heading to Marcus Hook to take on ethane at the East Coast terminal. Another Ineos ship, the JS Ineos Inspiration is already at Marcus Hook to load. The other two ethane ships in the same class (27,500 cubic meters) are offloading in Norway. The disposition of these ships means that the first loading in Houston will be significantly delayed.
Ineos could use a smaller vessel to pick up ethane in Houston, but of the eight vessels in this smaller class of tanker, seven are trading in the Middle East and Asia, and only one is available in the Americas.
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