Search results for: Chemical shipping

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  • 14 February 2018

    Chemical shipping freight rates will weaken due to the depressed outlook on overtonnaged long-haul routes.

  • 2 February 2017
    Business & Finance

    The expected expansion of the chemical shipping fleet in 2017, driven by the large number of orders placed in previous years, will continue “squeezing rates on major routes over the next two years,” shipping consultancy Drewry said. Time charter rates weakened in 2016, especially for larger tankers, and freight rates on major long-haul routes dropped. Although […]

  • 2 December 2015

    The average size of a methanol ship is expected to increase with the addition of new methanol production capacity by the US and Middle East over the next two years,  UK shipping consultancy Drewry believes. “The average size of a methanol ship is expected to increase considering the long-haul distance between the major sources of supply and demand,” […]

  • 10 June 2015
    Business & Finance

    Chemical shipping faces another tough year, but prospects are improving thanks to the strength of the product tanker market which is attracting a growing number of swing ships out of chemicals into products, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Drewry estimates that seaborne trade in chemicals […]

  • 15 November 2019
    Business & Finance

    MOL Chemical Tankers has agreed with KNOC and SK Gas to develop a chemical terminal in the Port of Ulsan.

  • 12 March 2019
    Business & Finance

    Drewry: China’s increasing domestic demand for chemical shipping is to strengthen coastal freight rates.

  • 8 August 2017
    Business & Finance

    The shipping fleet trading in chemical and vegoil markets is set to accelerate at a much faster pace than demand, weakening earning prospects, shipping consultancy Drewry said. Tonne-mile demand is expected to grow at 2.9% in 2017, and the fleet trading in chemicals/vegoils will expand by 9.5% by the end of this year, representing the […]

  • 9 November 2017
    Business & Finance

    Chemical shipping market is heading toward a recovery phase, which would be supported by subdued ordering and a narrowing in the tonnage supply-demand gap from late 2018, shipping consultancy Drewry informed. Tonne-mile demand of chemical commodities is set to grow at 3.8% on a year-on-year basis in 2017, of which the organic trade is likely […]

  • 10 January 2008

    An emergency operation is under way to stabilise a chemical tanker in Weymouth Harbour in Dorset. The 41,766-tonne Norwegian tanker ‘Mariella’ is dragging its anchor in 45-knot winds.

  • 4 May 2015
    Business & Finance

    The tanker shipping arm of the National Shipping Company of Saudi Arabia (Bahri), National Company for Chemicals Shipping, signed on Thursday a memorandum of understanding to purchase two tankers. Under the deal, NCC will pay USD 28.5 million dollars per tanker. The duo, MS Berganger and MS Brimanger, was previously owned by Norwegian shipping company […]

  • 8 November 2016
    Business & Finance

    Softening seaborne trade and rising fleet growth are expected to depress chemical shipping freight rates over the next few years, according to shipping consultancy Drewry. Spot rates collapsed in the third quarter as some charterers who usually fix their cargoes on contract took advantage of low spot rates. This situation also weighed on time charter […]

  • 10 April 2007

    A fire has broken out in the engine room of a chemical transport ship off the southwest coast of Ireland. The fire started at around 2:20am on the Maltese registered ship seven and a half miles north of Brandon Head.

  • 12 February 2016

    Chemical shipping freight rates for both contracts of affreightment and spot cargoes will be under pressure throughout 2016, as there are some new operators looking to break into the long-haul trade routes, according to Drewry’s Chemical Forecaster. The prediction comes on the back of low bunker prices and more new buildings to be delivered in […]

  • 10 March 2015

     Chemical tanker shipping faces another challenging year of falling freight rates in 2015 but the trade is expected to recover next year, according to Drewry’s latest edition of the Chemical Forecaster. Seaborne trade in chemicals and associated products fell by 1.2% in volume terms in 2014. Drewry attributes this decrease to the overall weakness in the Chinese and […]

  • 16 February 2012

    On February 3, CCCC Shanghai Dredging Co., Ltd. and Zhangzhou Gulei Haiteng Wharf Investment Management Co., Ltd. (transliteration) signed the Xiamen Port Gulei Wharf Area Gulei Operation Zone South 3 & 4 Berth Engineering Construction Contract, with contractual value of RMB 125 million and construction period of 8 months. It is noteworthy that the project […]

  • 12 May 2016
    Business & Finance

    Due to a rising production capacity in key exporting countries, chemical tanker shipping freight rates are expected to remain firm over the medium term, according to shipping consultancy Drewry. Since 2015, the US has started to export more and import less volume of liquid chemical products. US methanol capacity surged 77% in 2015 with the addition […]

  • 19 March 2014
    Business & Finance

    Principal Maritime Management LLC of Southport, Connecticut, a shipping company owned by affiliates of Apollo Global Management LLC, has formed a new platform in the stainless steel chemical shipping sector. Additionally, Princimar Chemical Carriers (Princimar) has acquired its initial three stainless steel chemical tankers, all of which were purchased from existing owners and are currently […]

  • 27 June 2016
    Business & Finance

    Chemical shipping company Navig8 Chemical Tankers Inc. has taken delivery of its first stainless steel chemical tanker, the Navig8 Sirius, from Japanese shipbuilder Kitanihon Shipbuilding Co. Ltd. Featuring 25,000 dwt, the Navig8 Sirius is the first of six vessels contracted at Kitanihon to be delivered to the company. The Navig8 Sirius will be entered into and operated in Navig8 Group’s […]

  • 18 March 2019
    Business & Finance

    Navig8 Chemical Tankers’ sale and leaseback deals with ICBC are related to four 37,000 dwt tankers.

  • 31 May 2017
    Business & Finance

    Chemicals shipping company Navig8 Chemical Tankers has entered into sale and leaseback agreements with CMB Financial Leasing for two of the company’s 25,000 DWT stainless steel chemical tankers. The ships in question are 2017-built Navig8 Saiph and Navig8 Sceptrum, and the expected net proceeds from the transaction are set at USD 66.84 million. “A portion of […]

  • 10 August 2016
    Business & Finance

    Chemical shipping company Navig8 Chemical Tankers Inc. has expanded its fleet with its newest addition, the 25,000 dwt stainless steel chemical tanker Navig8 Sky. The newbuilding was delivered from Japanese shipbuilder Kitanihon Shipbuilding Co. Ltd. Navig8 Sky is the second of six vessels contracted at Kitanihon to be delivered to the company. It is also the second and last vessel […]

  • 2 April 2014

    MARC has affirmed its AAAID rating on MISC Berhad ‘s RM2.5 billion Islamic Medium Term Notes (IMTN) programme. The outlook on the rating is maintained at stable. The rating action incorporates the group’s leading position in the LNG shipping segment derived largely from its long-term contracts with its parent company PETRONAS as well as MISC’s […]