Stolt-Nielsen: Cargo shortage hurts chemical tanker market

Chemical tankers need more work, and Norwegian Stolt-Nielsen is challenged by this development, says CEO Niels G. Stolt-Nielsen.

The coming years will be a struggle for chemical tanker carriers, a market that is already challenging today. This development is especially caused by a shortage of cargo and unprofitable rates, according to the CEO of the Norwegian chemical carrier Stolt-Nielsen:

"The current state of the market is challenging. For other shipping sectors it is usually a case of too many ships, but the chemical tanker market is seeing too little cargoes where volumes are not expected to come in 2014 or 2015. Market conditions are tough," Niels G. Stolt-Nielsen told Seatrade Global at a conference in China.

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