Chemical Tanker Shipping Prices, markets & analysis
If you buy or sell Chemical Tanker Shipping or related products, you need up-to-date global pricing data and the background information to help you understand it.
Our network of price reporters across Asia, Europe and the US enables us to deliver this. We publish their insights in our comprehensive daily and weekly price reports, plus we offer the news and analysis you need to put pricing information into context.
Chemical Tanker Shipping overview Transcript
ICIS publishes the only independent reports on the chemical tanker shipping market, publishing three weekly reports on the shipment of chemicals loading from Europe, the US and Asia.
All three reports focus on small chemical tankers generally up to 50,000 tonnes, and include freight rate assessments as well as commentary on the spot market.
Prices are always changing, for example, before the global economy went into recession in 2008 there was a great boom in chemical tanker shipping. However, since then demand for chemical tankers has almost evaporated.
Fewer products are now being shipped and there is now less need to move products from one region to another.
New tankers ordered prior to the global economic downturn continue to enter the market, adding to the already well-supplied tonnage.
Persistently high crude oil prices continue to maintain an upward pressure on the cost of bunker fuel, leaving ship owners with spiralling operating costs.
Many believe the group of emerging economies known as the BRIC countries- Brazil, Russia, India and China- may well be areas that go from strength to strength, and could be where firmer freight rates are achieved in the future.
How we can help
Chemical Tanker Shipping news and market information products from ICIS
We offer the following regional Chemical Tanker Shipping analysis and news coverage to keep you informed of factors and developments affecting prices in the Chemical Tanker Shipping marketplace.
Price Reporting – More information about the price reports we publish on Chemical Tanker Shipping
Independent price assessments and market coverage by region
Price History – More information about the historical price data we publish on Chemical Tanker Shipping
Track historical price data
News & analysis
News & Analysis - News & market analysis specifically relating to Chemical Tanker Shipping
Breaking news of latest developments affecting the markets.
Insight and analysis of factors driving prices.
Chemical Tanker Shipping: Market overview
The global chemical shipping market remains subdued as the supply of vessels continues to outstrip demand. Weak demand, rising oversupply and high fuel prices significantly reduced most vessel owners’ profit margins. Attempts to raise freight rates proved unsuccessful for a number of charterers.
Deep sea routes continue to show a lack of demand amid limited arbitrage opportunities. With weak downstream fundamentals in Europe and Asia, end-users are likely to take a wait-and-see approach to buying, affecting demand for chemical cargoes and dampening near-term freight rates.
Fewer contracts of affreightment (COA) are expected to be settled in the Middle East and Asia because of slowing growth in the latter. Ship owners prefer COAs because they provide a guaranteed source of income compared with prompt shipments. However, due to an uncertain market outlook, chemical end-users are expected to hold back on agreeing to COAs for the time being.
Updated to August 2013
News & analysis
Chemical Tanker Shipping news & analysis
Regional price assessments, published daily or weekly, enabling you to keep track of trading prices, understand price drivers/fluctuations and set a benchmark for contract price settlements. ICIS offers reports on over 180 commodities across the global petrochemical, energy and fertilizer markets. Information covered in our price reports includes:
- Spot and contract price assessments
- Market commentray on trends and developments
- Transactions reported and confirmed
- Plant and production news
Information is accessed online, via the ICIS dashboard service and is configurable to suit your preferences.
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Produced by the ICIS Consulting team, these reports give a robust rolling 12-month price forecast, trade balances and in-depth analysis into where markets are heading – providing a valuable tool to support your short- to medium-term plans.
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