Chemical Tanker Industry News

Norwegian chemical tanker owner Stolt-Nielsen on Thursday reported a second-quarter net profit attributable to shareholders of $58.6 million, with revenue of $689.1 million. This is an increased compared with a net profit of $52.3 million, with revenue of $606.2 million, in the first quarter.Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said the second quarter net profit was the company’s highest since 2007."The second quarter continued where the first quarter ended with growing demand and a shrinking orderbook for new ships…

Stolt Tankers has signed a memorandum of understanding (MOU) with the Port of Rotterdam Authority and Vopak Botlek to conduct a six-month feasibility study for the use of shore-based power for chemical tankers calling at Vopak’s Botlek terminal. While in port, ships will be able to switch off their diesel generators and connect to mains power, potentially from renewable sources.Stolt Tankers President Lucas Vos said, “The availability of shore-based power for our ships has the potential to greatly reduce the use of onboard diesel generators while ships are in port…

Stolt-Nielsen Limited announced on Friday that Stolt Tankers B.V. has entered into agreements to acquire three 33,600 dwt stainless steel chemical tankers built in Japan. The ships are expected to be delivered into Stolt Tankers’ fleet between July and September 2022.Stolt Tankers president, Lucas Vos, said, “This acquisition is an excellent opportunity for Stolt Tankers to secure competitively priced tonnage ahead of an expected cyclical upturn in the chemical tanker industry.

Navig8 Chemical Tankers, an international shipping company focused on the transportation of chemicals,  has agreed to enter four of its 25,000-dwt chemical tankers into a pool operated by the Norwegian tanker owner and operator Odfjell.Following the delivery of the vessels, the 'Chempool25' will total 19 vessels with Odfjell contributing with ten vessels, CTG five vessels and N8CTI four vessels. Odfjell will continue to be the operator of all vessels in the pool.“We are pleased to welcome N8CTI as a partner. N8CTI brings first-class vessels to the pool, and we look forward to the cooperation and to further develop our pool partnerships,” said Kristian Mørch, CEO of Odfjell SE.

Advanced Polymer Coatings (APC) has announced the retirement of Joseph F. Harrington after 25 years with Advanced Polymer Coatings. In 1994 he was approached by Don Keehan, Chairman of Advanced Polymer Coatings, to further develop the Marine Coatings industry with APC’s MarineLINE high-performance coating. Today MarineLINE is the industry leader in high performance coatings for the chemical tanker industry.APC President David Keehan says, “Joe Harrington has had a remarkable track record of 59 years in the coatings industry.

Japanese shipping giant MOL's Chemical Tankers unit has agreed to take full control of Triton-owned Nordic Tankers. The deal expected to close in February 2019.Denmark-based Nordic Tankers said in a press release that its current sole shareholder Triton agreed to sell and deliver 100% of shares to MOL Chemical Tankers (MOLCT) and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the closing date.Nordic Tankers will be renamed MOL Nordic Tankers A/S and all existing management and employees will remain in the company.MOLCT currently operates 56 chemical tankers…

Team Tankers International announced that it has entered into share purchase agreements to acquire all outstanding shares in each of Laurin Shipping and Anglo-Atlantic Steamship Company. In combination with associated ship purchases, the total estimated enterprise value of the series of transactions is approximately $206 million. Upon completion of the transactions, Team Tankers will grow its fleet from 37 to 52 vessels. With the acquisition of Laurin Shipping, trading under the Laurin Maritime brand, Team Tankers adds a leading medium range tanker (MR) operator with commercial and technical expertise to the Company's robust chemical tanker platform.

AkzoNobel said it scooped two honors at the recent ICIS Innovation Awards for the Interline 9001 ultra-performance cargo tank coating supplied through its International brand. As well as being awarded with the overall Innovation Award, Interline 9001 also received the Best Product Innovation Award from ICIS, the trusted information provider for the global chemical and energy industries. The awards recognize the impact the new coating has had on the chemical tanker industry, specifically how it tackles the issue of absorption from aggressive cargoes…

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes will be under pressure throughout 2016, as there are some new operators looking to break into the long-haul trade routes, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. More and more larger vessels were delivered during 2015; a total of 193 ships, aggregating 7.4 million dwt with an average vessel size of 38,390 dwt hit the water during the year.

Chemical Tanker safety comes into sharp focus in a new training course from leading maritime training provider Videotel Marine International. The newly-launched Advanced Chemical Tanker Course has been developed in conjunction with the Chemical Distribution Institute (CDI), with the involvement of some of the biggest names in the chemical tanker industry. Nigel D. Cleave, Videotel CEO, explained the thinking behind the initiative, “Chemical companies employ some of the highest quality workforce and demand the highest quality training for that workforce.