NEW YORK — Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday, a sign that ethanol exports from the United States to the country are increasing drastically.
The shipments may surpass the total amount of U.S. ethanol that China imported last year, a positive development for the U.S. ethanol industry, which has seen decreased demand because of the coronavirus pandemic and the U.S.-China trade war.
The ships each have a capacity of around 30,000 tons, or about 240,000 barrels of ethanol, the sources said, though the exact amount of the renewable fuel onboard was not immediately clear.
It was also unclear whe…
Keep on reading: Three ships carrying U.S. ethanol head to China — sources