Chemical Tanker

摘要

Drewry’s Chemical Freight Index declined 0.2% on long-haul routes and 0.1% on short-haul routes in December as the market is still battling with COVID-19 because of which the seasonally high winter demand remained elusive. The Vegoil Freight Index also dipped 1.1% in December due to vessel oversupply caused by the struggling CPP market. We expect freight rates for both easy chemicals and vegoils to remain stable in January 2021 as there is no uptick in demand despite the approaching Lunar New Year celebrations in China. Many European countries have entered into lockdown due to the new variant of coronavirus which is highly contagious, hampering recovery of chemical shipping market in 1Q21. Palm oil imports by India and China will also be depressed in January due to the anticipation of another round of export tax increase by Indonesia and Malaysia.