Feature 2 | CHEMICAL & PRODUCT TANKERS


Market realities force chemical market transition


Global economic downturn and oversupply of ships has leſt the chemical and product tanker industry in a precarious condition, but the bottom has now been reached say some observers with the implication that the only way is up.


the near future changes to the global economy. Chemical tankers and the movement of this cargo can also be considered to be an indicator of sorts, though if economists were to rely on the shipping sector of this market alone they may be forgiven for sounding the death knell. Shipments of chemical products from the


C


USA, the world’s largest market, fell 14.7% from in July 2009 compared to July 2008, and was down 0.6% over the June figures, the latest statistics available from the US Department of Commerce. Inventories for the chemical industry were also down year-on-year by 9.4% over the same


hemical production and demand is considered a lead economic indicator when economists look at


The launching of a tanker from a river bank in China. The vessel edges backwards over the river (continued over the page).


The Naval Architect November 2009


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