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China to Receive Rare U.S. Ethanol Shipment Friday

First such cargo since two countries struck initial trade deal in January

Tanker ship 5117014 1920

A rare ethanol shipment of U.S. origin is expected to arrive in China this month, according to three industry sources and shipping data, probably the first such cargo since the two countries struck an initial trade deal in January, reports Reuters.

The market has been watching closely for signs of renewed trade in biofuel after China waived some additional tariffs on 696 American products, ethanol among them, to support purchases of U.S. farm goods, after the signing of the Phase 1 trade deal.

Oil tanker SC Chongqing, which loaded a cargo of about 9,000 tonnes at Oman’s Sohar port in April, is expected to arrive at Nanjing in eastern Jiangsu province on Friday, shipping data on Refinitiv Eikon showed.

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