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

Cruise Ship Trends

Meyer Turku Wins TUI Cruises Order for 2 Ships

TUI Cruises GmbH and Meyer Turku Oy signed an agreement for two cruise ships. This order further strengthens the order book of the shipyard, which contains now a high work load until the year 2020.

Transnet Awards Bid for Cape Town Cruise Terminal

Transnet National Ports Authority awarded the V&A Waterfront (Pty) Ltd the status of Preferred Bidder for the development of a cruise terminal at the Port of Cape Town, Transnet said on Tuesday.

Cruise Ship Collides with Tanker off Gallipoli

A Celestyal Cruises ship suffered structural damage to its bow and was forced to dock at Turkey’s port of Gallipoli after it collided with the Marshal Islands-flagged

 
 
Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1252 sec (8 req/sec)