Platou: Bad year for chemical tankers

Shorter distances and disappointing growth in demand keeps the growth in chemical tanker down in 2014, but a US gas venture could bring significant changes to the global trade from 2016, according to Platou.

Analyst agency Platou presents a bleak view of the year's spot rates for chemical transport. In a new market analysis, the Norwegian analysts look into how poorly the chemical segment is doing. The index for 25,000 dwt transport ships is down by 1 percent in the first six months of the year, compared to the same period last year.

"In our view, rates are below last year’s level due to disappointing demand growth. According to Maritime Strategies International (MSI), an industry consultant, chemical volumes grew 2.5 percent last year and the growth could potentially be even lower in 2014," says Platou.

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