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Trade War Is Diverting US Petroleum Gas Cargoes Away From China
Multiple carriers of petroleum-based gases traveling from the US to China have begun diverting to other countries due to the intensifying trade war between the world’s two largest economies.
Four cargoes of propane have shifted their routes from China to alternate destinations over the past week, bound for countries including Japan and South Korea, according to a report from analytics firm Vortexa. At least one cargo of ethane — which is used in plastics production — has been scrapped entirely, according to a person familiar with the matter.