NPRA ’10: US-Asia route attracts new chem shipper, Koyo Kaiun

29 March 2010 18:46  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--The US-to-Asia route has attracted new competition, the Asia-based Koyo Kaiun chemical shipper, a broker said on Monday.

Koyo Kaiun’s Valentine, a 14,000 dwt (deadweight tonnes) vessel, will leave Malaysia at the end of April with a load of palm oil headed for Savannah, Georgia, the broker said on the sidelines of the International Petrochemical Conference (IPC).

The Japanese shipper was inquiring with brokers for chemical shipments for the ship’s return trip to Malaysia, the broker said. Koyo Kaiun recently won the contract business away from a major chemical shipper, the broker said.

“They’re trying to compete with Stolt and Odfjell going back to Asia,” the broker said.

Stolt-Nielsen and Odfjell are the two largest chemical shippers in the world, with most of their vessels devoted to contract of affreightment (COA) business.

Koyo Kaiun was also inquiring about a second ship it plans to follow with in May - the Xena, a 20,000 dwt vessel - bringing a palm oil cargo from Malaysia to the US Gulf. 

Koyo Kaiun was founded in 1966 and has focused its 20-vessel fleet almost totally in Asia and the Far East, according to the company’s website.

Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.

To discuss issues facing the chemical industry, go to ICIS connect

By: Lane Kelley
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index