Singapore's neutrality can help Iran's petrochem trade

Singapore

THE managing director of Afco Petrochemicals Pte Ltd believes Singapore - as a regional trading hub balancing major buyer and seller nations - offers the newly startup petrochemical (petchem) unit of Afco Energy the neutrality to link the producers in Iran, post-sanctions, with their existing and new customers in Asia.

"Iranian producers can go direct to China (the key market for petchem products from the former) if they want to, but we see our role (as a Singapore-based trader) as mitigating counterparty risks for the producers," Lim Fang Wei of Afco Petrochemicals said.