ShippingWatch

A part of Watch Media

Weak product tanker market pressures rates at Stolt Tankers

The start to 2021 proved challenging for Stolt-Nielsen's chemical tanker carrier, Stolt Tankers. According to chief executive, rates and earnings were strained due to product tanker carriers bidding on chemical tanker cargoes. Most recently, the Suez Canal blockage has caused delays.

Photo: PR / Stolt Tankers
BY

A weak product tanker market put pressure on the rates achieved at Stolt-Nielsen's chemical tanker carrier, Stolt Tankers.

In recent months, the chemical tanker market has been characterized by so-called swing tonnage from product tanker carriers, which have bid on the transport of chemical tanker cargoes, CEO Niels G. Stolt-Nielsen sums up in the carrier's unaudited first-quarter report published Thursday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Norden books "fantastic" second-quarter result

Foto: PR / Norden

Product tanker and dry bulk company Norden bags a result for the second quarter that the carrier itself describes as ”fantastic.” CEO Jan Rindbo says this is due to the ”exceptional” product tanker rates, according to a financial statement.

Further reading

Related articles

Latest news

  1. Torm bags USD 107m profit after doubling TCE rates
  2. Norden books "fantastic" second-quarter result
  3. Maersk tempers rumors of big Suez terminal investment
  4. Maersk: Low Rhine water levels and Felixstowe strike prompt delays
  5. Odfjell exits second quarter with best result in 15 years
  6. Wallenius Wilhelmsen CEO: car freight volumes will grow as congestion eases
  7. DSME orders halve deficit
  8. 2020 Bulkers reports fewer earnings than last year
  9. Offshore suppliers eye fresh orders upon super profits from energy companies
  10. Reefer rates to peak in fall season, followed by slow decline
  11. Belships reports growth and expects profitable market two years ahead
  12. Norwegian Shipowners' Association fears hesitant politicians may curb green transformation
  13. Smaller carriers on the Pacific outperform minor regional operators
  14. Wallenius Wilhelmsen converts debt into green loans
  15. DFDS sharing capacity with P&O Ferries amid ongoing French investigation
  16. Petrobras orders huge floating production setup from Keppel
  17. DFDS CEO: "We have ample capacity" for new acquisitions after historic quarterly result
  18. Viking Supply Ships secures profit, expects rates to fall
  19. Maersk to acquire Viking equipment to tackle container fires
  20. Singapore bunker sales hit seven-month peak

See all

Job

See all jobs

See all jobs