Chemical Tanker

Global Chemical Tanker Market Is Expected To Reach Nearly USD 5 Billion In 2022

Industry Insights

Global sales of the chemical tanker in 2018 surpassed 130 units and is anticipated to expand at a moderate pace over the midterm forecast period, according to a recently published study by Fact.MR. APAC is estimated to be the leading region accounting for more than 35 percent share (Volume) in the global chemical tanker market, owing to increased seaborne trade and demand from end-use sectors. APAC is closely followed by Europe. In terms of value and quantity during the forecast period, the Asia Pacific chemical tanker market is also expected to grow at a significant CAGR. Within Asia Pacific, China is expected to lead the market for chemical tankers in the Asia Pacific. The worldwide market for chemical tankers accumulates maximum earnings made by shipping chemicals and their related products.

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Chemical Tanker Market: In-Depth Assessment on Key Segments-

The global chemical tanker market is segmented by fleet, tanker capacity, material, chemical and region

Grade (% of Demand)
  • IMO 1
  • IMO 2
  • IMO 3
Tanker Capacity
  • Less than 10,000 dwt
  • 10,000 – 19,999 dwt
  • More Than 20,000 dwt
Material
  • Stainless Steel
  • Epoxy
  • Others
Chemical
  • Organic Chemicals
  • Inorganic Chemicals
  • Vegetable Oils & Fats
Region
  • North America
  • Latin America
  • Europe

Mergers and Acquisitions Will Be the Major Contributors in the Growth of Chemical Tanker Market

The tide has changed over the past few years and mergers and acquisitions have been favored as key strategies by stakeholders as they promote sustenance and rapid growth in the global chemical tanker market. A combination of several trends and regulatory changes coupled with the employment of larger vessels, increasing competition and the financial crisis have forced the players in the market to resort to collaboration, mergers and acquisitions.

  • In February 2019, Team Chemical tankers announced the acquisition of Laurin Maritime and Anglo-Atlantis Chemical tanker for $206 million, a deal which added 34 coated IMO II/III MR Chemical tankers to its existing fleet of 33 vessels.
  • At the end of 2018, Eastern Pacific reportedly bought thirteen 19,000 dwt stainless steel vessels from the BW Group. These vessels will be operated by Ace Quantum, which will manage the largest fleet of stainless steel ships in this size segment in the future with a total of 33 vessels on the water.
  • Meanwhile, 2019 has already seen its first consolidation deal, with Triton selling its 100% owned Nordic Chemical tanker to MOL Chemical tanker. The new combined operation will be renamed MOL Nordic Chemical Tanker A/S, and will have a fleet of 75 vessels. More mergers, joint ventures, and buyouts are expected.

 

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