The chemical tanker fleet has its highest number of vessels trading in chemicals and vegoils since 2012. This was a key conclusion of the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.
Vessels are expected to carry chemicals and vegoils whenever they can earn higher profits.
The fleet that trades in chemicals and vegoils expanded by 26 vessels and in clean petroleum products (CPP) by 10. This is a definite role reversal from the first quarter of 2016 when 9 vessels were added for chemicals and vegoils and 19 for CPP trade, indicating the current mood of the market. The chemical fleet also saw a higher number of vessels trading in chemicals and vegoils for the first time since 2012. It is also worth noting that almost all the ships trading in the CPP market have the ability to switch to vegoils; as a result these vessels are expected to carry chemicals and vegoils whenever they can earn higher profits.
Of the 50 newbuilding deliveries, 25 are fully stainless steel tankers
Overall, the first quarter of 2017 saw 36 vessels (50 new deliveries and 14 removals) added to the global fleet but there are still too many operators the same report argued.
Of the 50 newbuilding deliveries, 25 are fully stainless steel tankers. The orderbook contains 144 stainless steel vessels totalling 3.4 mdwt for delivery by 2020, almost 22 per cent of the existing capacity for such vessels; 63 of these vessels are in the size range of 25,000- 40,000 dwt, while in the existing fully stainless steel fleet, there are 143 vessels in the size of 25,000-40,000 dwt category. These large vessels are meant to be employed in the pure chemical trade.