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 Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Norwegian Escape with Biggest Scrubbers sets Sail

On a sunny October day in the German harbor-town of Hamburg, M/V Norwegian Escape, a brand new cruise ship, sets sail for the first time. On board are five Yara SOx scrubbers – one for each engine.

First Cruise Ships Dock at Abu Dhabi’s New Stopover

Abu Dhabi Ports─the master developer, operator and manager of ports and industrial zones in the Emirate―has started welcoming cruise liners at Sir Bani Yas Island,

Five P&O Cruise Ships Meet in Sydney

Sydney is the stage for the biggest get-together of a fleet of cruise ships ever seen in the harbor city.    Five P&O cruise ships have created a V-formation

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar 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: 0.1310 sec (8 req/sec)