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Odfjell predicts upturn and strong growth for chemical tanker market in second half of 2021

The chemical tanker market is headed for an upturn that will last for two to three years, with strong growth expected as early as the second half of the year, said CEO Kristian V. Mørch during Odfjell's capital markets day, adding that he wants the port terminal business to grow considerably.

CEO of Odfjell, Kristian V. Mørch, is convinced that an upturn is coming on the chemical tanker market. | Photo: Morten Wanvik / Odfjell

After a weak start in 2021, significant earnings pressure, low demand and considerable competition on the product tanker market, the tide is starting to turn for the chemical tanker market, asserts Norwegian tanker carrier Odfjell.

There are a number of signs indicating that the chemical tanker market could be approaching a high cycle with strong demand and increasing revenue.

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