Chemical Tanker Fleet News

Garry Noonan, Director, Innovation, Ardmore Shipping is candid in discussing emerging technologies and their impact on ship fuel and emissions reductions. With a fleet of product and chemical tankers under his guise, Noonan gives insights on technologies that he has seen work, as well as his thoughts on the fuel transition, which he believes won’t become mainstream until we’re well into the 2030s.While Cork, Ireland-based Ardmore Shipping, founded in 2010, is relatively new in shipping circles…

U.S.-based  Advanced Polymer Coatings (APC) has signed a major multi-ship deal to recoat ten tankers with Turkish ship management firm Chemfleet.The deal was signed at Chemfleet’s Istanbul office by APC’s global marine manager, captain Onur Yildirim, and its Turkey marine manager captain Koray Karagoz. According to Captain Yildirim, APC now holds 80% of the Turkish marine coatings market having coated and repaired more than 450 vessels since establishing in the country in 2001.He said the new contract followed a third special survey of the chemical tanker fleet…

Norwegian shipping firm Odfjell SE has appointed Harald Fotland as its new Chief Executive Officer (CEO). Fotland comes from the position as Odfjell's Chief Operating Officer, and will assume the CEO position on May 6, 2022."We are pleased to have an internal candidate take over the helm at Odfjell. The appointment was made after a process including external and internal candidates. Harald has excelled at leading innovative and transformative projects during his time at the Company.

Cooperation strengthens chemical platform; underpins strategy to operate more sustainable, non-fossil fuel cargoes  Ardmore Shipping Corporation announced a new partnership with Carl Büttner, taking on the commercial management of four chemical tankers on behalf of the Bremen-based shipowner.The vessels Aurelia, Avalon, Apollo and Admiral are 24,000 deadweight tonne (DWT) chemical tankers, and will operate alongside Ardmore’s own chemical tanker fleet. This move signals a doubling of the number of similar sized chemical tankers under Ardmore’s management.Gernot Ruppelt…

The recovery of the chemical tanker market continued into the second quarter as main drivers were strong US exports and healthy volume development throughout the quarter on main trades, said Odfjell SE.The Clean Petroleum Products (CPP) market weakened which led to a net increase of 20 coated MR's trading chemical/veg-oils during the quarter, hereby increasing supply pressure for chemical tankers towards the end of the quarter, said the company specializing in worldwide seaborne transportation and storage of chemicals and other specialty bulk liquids.The global chemical tanker order book stands at 6.6% of the current fleet. The global deep-sea fleet based on vessels larger than 18,000 dwt grew by net 6 vessels in 2Q19 as 8 vessels were delivered, and 2 vessels were scrapped.

The chemical tanker market saw continued improvements into what normally is a seasonally weaker first quarter, said Odfjell Group, a company specialising in worldwide seaborne transportation and storage of chemicals and other speciality bulk liquids.Strong exports from the US and Middle East were key drivers in this quarter which also impacted other trade lanes as well. There was less supply pressure from swing tonnage during the quarter, but we experienced some increased competition especially in the Middle East towards the end of the quarter.The global core chemical tanker orderbook stands at 7% of the current fleet. The global deep-sea fleet based on vessels larger than 18,000 dwt grew by net 10 vessels in 1Q19 as 12 vessels were delivered, and 2 vessels were scrapped.

Subdued ordering and a narrowing in the tonnage supply-demand gap from late 2018 is expected to support a recovery in the chemical shipping market, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Drewry estimates that tonne-mile demand of chemical commodities will grow at 3.8% on a year-on-year basis in 2017, of which the organic trade is likely to grow only at 1.5%. By contrast, inorganic and vegoil tonne-miles are expected to increase by 6.3% and 6.5%. Drewry estimates that the global chemical trade will grow at 3.3% in 2017, owing to the strong vegetable oil trade from Southeast Asia to South Asia.

Demand for methanol and vegoil will moderately support global seaborne trade causing the shipping fleet trading in chemicals and vegoils to expand, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. A press release from Drewry said that the orderbook contains 144 stainless steel vessels totalling 3.4 mdwt for delivery by 2020, almost 22% of the existing capacity for such vessels; 63 of these vessels are in the size range of 25,000-40,000 dwt, while in the existing fully stainless steel fleet, there are 143 vessels in the size of 25,000-40,000 dwt category. These large vessels are meant to be employed in the pure chemical trade.

Time charter rates in the smaller chemical tanker vessel sizes are expected to remain stable over the next two years, but rates for the larger sizes, especially MRs, will decline due to the impact of falling clean petroleum products (CPP) freight rates, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Weakened chemical tanker freight rates in the second quarter of 2016 have resulted in softer time charter rates. Drewry anticipates a modest improvement in the CPP market in the next two quarters, but expects chemical tanker freight rates to remain weak in the third quarter with a pick up in the fourth quarter of this year.

Navig8 Chemical Tankers has announced that it has entered into contracts to purchase four 49,000 dwt IMO2 eco-design, Interline-coated chemical tankers to be built at STX Offshore & Shipbuilding Co., Ltd. in Korea ("STX"). The company also announced that it has secured options to purchase six additional sister vessels from STX. The vessels will be built to the same technical specifications as the Company's preexisting orders with STX, including the capability to transport methanol and other specialty cargoes.

MAN Diesel & Turbo’s Propeller & Aft Ship organization has won an order to retrofit and upgrade a series of 11 × 37,500 dwt vessels from the Odfjell chemical tanker fleet. The vessels are of the Kværner Class and are due to dock during 2015-17, at which time the upgrades will be implemented. The first vessel, M/T Bow Clipper, will dock and be upgraded in August 2015. Each vessel has an MAN B&W two-stroke engine powering a four-bladed, controllable-pitch propeller and a PTO-driven shaft alternator.

MAN Diesel & Turbo’s Propeller & Aft Ship organisation has won an order to retrofit and upgrade a series of 11 × 37,500 dwt vessels from the Odfjell chemical tanker fleet. The vessels are of the Kværner Class and are due to dock during 2015-17, at which time the upgrades will be implemented. The first vessel, ‘M/T Bow Clipper’, will dock and be upgraded in August 2015. Each vessel has an MAN B&W two-stroke engine powering a four-bladed, controllable-pitch propeller and a PTO-driven shaft alternator. The vessels’ new service speed at reduced main-engine output – combined with the implementation of MAN’s highly-efficient Kappel propeller blades, a fairing cone and a pre-fabricated rudder bulb kit – will all contribute to power savings and reduced exhaust-gas emissions.

Principal Maritime Management LLC of Southport, Connecticut, a shipping company owned by affiliates of Apollo Global Management LLC, has formed a new platform in the stainless steel chemical shipping sector. Additionally, Princimar Chemical Carriers has acquired its initial three stainless steel chemical tankers, all of which were purchased from existing owners and are currently in service. Princimar Chemical Carriers is focused primarily on acquiring stainless steel chemical tankers which operate in the global specialty and commodity chemical shipping trades. Princimar has fully committed financing in place for additional acquisitions, and plans an initial fleet of 12 to 15 vessels.

The United States Maritime Resource Center (USMRC) and the Maritime Simulation Institute said that Margaret Kaigh Doyle has been appointed Vice President – Development, effective January 30, 2012. Doyle has more than 25 years of experience in the maritime industry and the majority of her career has focused on representing the interests of various sectors in the industry including ship owners and operators, government agencies and salvage and firefighting organizations. Prior to joining USMRC…

Italy-based classification-society RINA has reported continuing growth in both turnover and returns for 2008. Turnover for the 2008 year was $252.2m, up 17 per cent on 2007, and EBITDA was $41.2m, up 18 per cent on the 2007 financial year. Ugo Salerno, ceo of RINA said, "2008 was a year of careful scrutiny of our services and client base to ensure that we are doing the right things, for the world we live in, for our clients and for ourselves. It was also a year for consolidation and careful attention to detail within the group, to ensure that we are doing things right. We had to consolidate the companies acquired in 2007, control costs and work hard to get the right people with the right skills and the right management support into the right places around the world.

The Marine Response Alliance (MRA) is pleased to announce Ms. Margaret Kaigh Doyle has been appointed General Manager of the Alliance effective May 18, 2009. Doyle has over 20 years of experience in the maritime industry and the majority of her career has focused on representing the interests of various sectors in the industry including ship owners and operators, government agencies as well as salvage and firefighting organizations. Prior to joining the MRA she worked as a senior tanker analyst at Marsoft, a Boston-based maritime consulting company.

Stolt-Nielsen Transportation Group Ltd., a wholly-owned subsidiary of Stolt-Nielsen S.A., Vopak Chemical Tankers B.V. and John T. respective European chemical tanker coastal fleets commencing December 1, 2001 under the name of Vopak Essberger Stolt ChemPool. Stolt-Nielsen Inter European Service (SNIES) and comprises 11 chemical tankers totaling 56,000 dwt. Chemical Tankers B.V. and John T. tankers totaling close to 96,000 dwt. with a total capacity of approximately 150,000 dwt. Germany and Dordrecht, the Netherlands. SNIES will transfer its marketing and operational personnel to Hamburg and Dordrecht.

Business Lines report that MISC Bhd has experienced its best performance over the past 20 years in the chemical shipping market. Freight rates for shipping chemicals reached historical highs in the second half of 2004, exceeding previous peaks of 1991 and 1995. The firmer freight rates are the result of demand outstripping supply for the more sophisticated chemical vessels and the lack of shipyard space to build stainless steel chemical vessels. The demand for chemical vessels has also edged up as countries such as India and Pakistan restrict vessels which are more than 25 years from entering their ports. Taking advantage of this market situation the carrier has placed orders for additional four chemical tankers.

Odfjell has invested more than $130m recently in expanding its fleet, acquiring five chemical tankers. Four of the chemical tankers are second-hand ships with stainless steel cargo tanks and are built between 1995 and 1997. M/T "Giada D" (10 115 dwt./built 1996) is built in Italy, and was delivered 12 September from Italian owners. The vessel has been renamed "Bow Querida". M/T "Euro Azzurra" (13 843 /1997) is built in Italy, and will be delivered late 2006/early 2007 from English owners. This ship is acquired by a Norwegian 50/50 joint venture company owned by Odfjell ASA and Kristian Gerhard Jebsens Skipsrederi AS. M/T "Brage Atlantic" (17 460/1995) and M/T "Brage Pacific" (17 460/1997) are built in Norway.