Mideast may see two-tiered freight market in coming years: analyst

25 September 2013 09:37  [Source: ICIS news]

SHANGHAI (ICIS)--A two-tiered freight market in the Middle East is likely in the coming years with the emergence of specialty chemicals in the region, according to Hans Brinkhorst, director of the specialised products department in Clarksons.

“Today we don’t have that [because] of smaller specialty [chemicals] cargoes. But in future freight rates for specialty chemicals and base chemicals will be [seen as] separate,” Brinkhorst said in a speech during the 6th Chemical Tanker Shipping and Storage Conference in Shanghai.

Brinkhorst added freight rates for specialty chemicals will likely be more expensive than base chemicals because of their unique cargo requirements.

The expectation came as specialty chemicals are seen as a potential market for Middle Eastern companies.

Abdulwahab Al-Sadoun, secretary general of the Gulf Petrochemicals and Chemicals Association (GPCA), said in an interview in April this year that he anticipates specialty and performance plastics products to help stimulate the growth of new downstream industries in the Middle East.

The two-day conference ends on 26 September.

By: Muhamad Fadhil
+65 6780 4356

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