Drewry: Strong product tanker pulls ships from chemical segment

Chemical shipowners have yet another rough year ahead, but a strengthened product tanker market is drawing vessels from the chemical segment over to the product market. This provides a degree of improvement, according to an analysis from Drewry.
Photo: Stolt-Nielsen
Photo: Stolt-Nielsen
BY KATRINE GRØNVALD RAUN

An oversupply of vessels has for many years curbed the chemical market, and there are no signs of relief this year, as the fleet continues to grow with new ships. However, Drewry has a positive message for shipowners such as Stolt-Nielsen and Odfjell. The increasing strength for product tanker is attracting more vessels from the chemical segment in the hopes of joining in on the boom, notes Drewry in a new analysis.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
  • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Front page now

    Further reading