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Strait of Hormuz chokepoint to shut in Middle East chemicals and plastics exports
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Strait of Hormuz chokepoint to shut in Middle East chemicals and plastics exports
Massive export volumes of chemicals and plastics go through the Strait from Saudi Arabia, Qatar, the United Arab Emirates (UAE) and Kuwait with key destinations being China, the rest of Asia and the EU. “Around 84% of Middle East polyethylene (PE) capacity relies on the Strait of Hormuz for waterborne exports, without accounting for eastern Saudi sites sending PE inland to their western ports,” noted Harrison Jacoby, director of PE at ICIS. Whil…
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