In 2016 Petredec diversified into Petrochemicals with the addition of trading desks in London, Singapore, and Houston. With a global reach, the products traded are principally petrochemical gases, both within individual regions and in long-haul cross-regional trade.
With world ethylene capacity exceeding 170 million mts at the end of 2017, and forecast to exceed 200 million mts by 2020, the trading outlook for this commodity is encouraging. At the same time, as the international petrochemical industry moves to lighter feedstocks, the prospects for global trade in the propylene and the C4/butadiene chains are equally promising.
Petrochemical trading strengthens Petredec's presence in the liquefied gas products markets, and adds greater scope and dimension to the company's core LPG activities. Furthermore, a presence in the specialised petrochemical gases sector of the market provides additional synergies and employment opportunities for Petredec's significant fleet of liquefied gas carriers.