Asian Chemical Connections
The Asia bulk chemical shipping industry will be challenging through 2012 because of stagnated freight rates, increased operating costs and oversupply of vessels amid a poor global economic outlook for petrochemicals.
Freight rates for prompt shipments of feedstock and specialty chemicals across key Asian routes in 2011 were largely stable to soft, triggered by a weak export market with no signs of recovery observed in the first quarter of 2012.
INSIGHT: Wall Street to slash chems earnings estimates on lower oil
"The premise of whether lower or higher oil prices are better for chemical producers is still a point of debate."
VIDEO: ICIS special report - impact of lower crude oil prices