Surplus Of Chemical Tankers To Reduce Earnings

Tuesday, February 22, 2000
The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said. The report, by Ocean Shipping Consultants, said shipowners will be forced to reduce costs and increase efficiency to counter the estimated growth in the fleet to 23.5 million dwt by the end of this year. The deliveries of new tankers over the last four years has come at a bad time for the industry which is struggling to recover from the Asian economic crisis of the late 1990s which reduced trade. Chemical tankers are also facing the added challenge of adapting to changing patterns of the petrochemical trade brought about by a rise in Asian petrochemical capacity, notably in South Korea, and a decrease in long-haul imports from the U.S. and Europe. In addition, tanker owners are having to deal with the effects of the recent consolidation within the petrochemical industry. The latter will drive a move within oil companies to re-evaluate their transport logistics and seek integrated services on a global scale. The OSC report said the chemical carriers are likely to respond to the changing needs of the industry they serve by increasingly operating their ships in pools with other shipowners and by developing partnerships.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Cruise Industry Disappointed by Findings of Critical LMU Report

New research by the UK's Leeds Metropolitan University (LMU) claims the cruise industry is ignoring its responsibility to the environments and societies it visits.

New Orleans' Biggest Cruise Ship Departs on Inaugural Voyage

New Orleans’ largest year-round cruise ship, the 3,646- passenger 'Carnival Dream', has sailed on its inaugural 6-day cruise from New Orleans. The Port explains

Concordia Captain Tried to Blame Wreck on Electrical Blackout

The captain of the Costa Concordia tried to persuade the crisis coordinator of the cruise line to pretend an electrical blackout had caused the shipwreck, a court was told on Monday.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0855 sec (12 req/sec)