Team Tankers eyes stronger chemical market

Team Tankers, formerly Eitzen Chemical, was listed on the Oslo stock exchange yesterday. The carrier believes in a better chemical tanker market this year after a big dive in 2014. Drewry is less optimistic and believes the recovery will not happen before in 2016.

There has been a serious slowdown in the chemical tanker market in 2014 - mainly caused by the lower Chinese import of petrochemical products. However, Team Tankers, formerly Eitzen Chemical, believes in a significant strengthening of the market already starting this year, according to the material the carrier presented yesterday in Oslo relating to the company's IPO on the Oslo stock exchange.

The carrier expects that the market will grow by about three percent this year, to somewhere around five or six percent in 2017, according to the material. In 2016 and 2017, Team Tankers is counting on the general demand surpassing the supply in the market, which has been one of the challenges for the market in recent years. There is however still a big orderbook of ships set for delivery, which in January corresponded to 15.8 percent of the fleet.

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