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China decides the future for chemical tank carriers

China controls a big part of the global demand for chemicals, but the chemical superpower is becoming increasingly self-sufficient. This will impact chemical tanker operators, says major bank DVB in a new analysis.

Photo: Rederiforeningen

Global developments in shale gas and China's development toward becoming increasingly self-sufficient in chemicals could change the entire landscape of the global petrochemical industry, thus impacting the chemical tank market, according to a new analysis by major bank DVB, which predicts a slow rebound for chemical tanker owners and operators.

"We see shale gas development worldwide and rising self-sufficiency in China’s chemical demand as two noteworthy structural trends going forward in the global chemical industry. Together with large incremental capacity in the Middle East, these developments are expected to change the landscape of global petrochemical industry and then eventually have an impact on the chemical tanker market. Although this change seems to be far away, it is worthwhile for players in the chemical tanker market to be prepared to avoid ‘finding sorrow near at hand’," says DVB in the analysis, which seems somewhat less optimistic about the developments in chemical tank compared to other analysts and investors.

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