New trade flows poised to buoy chemship market

摘要

Mixed messages have been received from the chemical tanker community during the course of 2015. While spot rates began to pick up during the spring, by as much as 7%, cargo volumes remained flat and contracts of affreightment (COA) were renewed at unchanged, low levels. Looking at operating costs, shipowners have benefited from the comparative strength of the USD and the declining cost of bunkers due to the oil price slide. On the other hand, the requirement to burn premium fuel with a sulphur content of 0.1% or less in emission control areas (ECAs) as of 1 January 2015 has hit chemships hard because such ships, with their multiple cargoes and berth calls, spend more time in port than other ship types.