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.

Cruise Ship Trends

MV WERFTEN, Foreship Sign Design Agreements

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design,

Vard Bags Hapag-Lloyd Cruises contract for 2 Vessels

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that it has secured contracts

Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.

 
 
Maritime Contracts Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0568 sec (18 req/sec)