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

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.

Read the whole article

Get 14 days free access.
No credit card required.

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

Further reading

Related articles

Trial banner

Latest news

See all jobs