The chemical tanker market will be the new growth driver for chemical and product tanker carrier United Arab Chemical Carriers (UACC), based in Dubai. And the carrier has great expectations for the chemical export from this region, CEO Per Wistoft tells ShippingWatch.
"We believe that the export of chemicals from this region is going to increase significantly within the next five years. And with shale oil and shale gas from the US we're suddenly seeing exports coming from this region as well. These two things combined mean that, if nothing else, the chemical tanker segment should increase five to ten percent within the next 12 months," says Per Wistoft.