Stolt-Nielsen must arm itself with patience for at least another year. The carrier does not expect to see recovery in the chemical tanker market until another year has passed, and the company is thus now preparing for a scenario in which there will be no significant growth over the next 12 months.

"We do not anticipate any substantial improvement in the chemical tanker market until the latter part of 2018, when the current orderbook will have been significantly reduced and the balance between tonnage supply and demand improves," says CEO Niels G. Stolt-Nielsen in the report published Monday morning.