Chemical Tanker Shipping Market - Global Industry Analysis, Growth, Trends, Forecast 2016 - 2024

ALBANY, N.Y. - Oct. 10, 2016 - PRLog -- Chemical tankers are a kind of ship which is designed for the transportation of chemicals in bulk quantity. The chemical tankers may also carry industrial chemicals, petroleum products, and other types of sensitive cargo which require high standard of tank hygiene. The chemical tankers which travel on ocean may range from 5,000 tones deadweight (DWT) to 35,000 DWT in size. The chemical tankers which weigh 35,000 tons are smaller in size than the average size tankers as the chemical tankers are specialized in nature for the transport of chemicals and the nature of the cargo. These tankers size are mandated by the port terminals in which they operate. The chemical tankers require a specialized coating like zinc paint or epoxy. The chemical tankers might also be made with stainless steel.

Chemical Tanker Shipping Market: Segmentation

The type of coating used in the chemical tanker determines the type of cargo a particular tanker would carry. The transports of aggressive acid like phosphoric and sulfuric stainless steel tanks are used. Epoxy coated chemical tankers are required for the transport of vegetable oil.

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The chemical tanker shipping market by tanker shipping cargo size can be segmented into Inland chemical tanker shipping, coastal chemical tanker shipping, and deep sea tanker shipping. The chemical tankers shipping market by chemical tanker type can be segmented into IMO I (this type of chemical tanker shipping are used in transport of most harmful chemicals), IMO II (this type of chemical tanker shipping is used for less hazardous chemicals generally transported in bulk) and IMO III (this type of chemical tanker shipping is used to transport the least hazardous chemicals). IMO II and III type of chemical tanker are used more commonly compare to IMO I type as it require a lot of arrangements for transportation and modern equipments.

The chemical tanker shipping market by product can be segmented into organic, inorganic and vegetable/animal oil and fats. Increase in demand for chemicals globally is likely to drive the demand for large tankers which are above 1000 tons DWT as this type of chemical tankers are required for carriage of goods among different regions.

Chemical Tanker Shipping Market: Geographical and Competitive Dynamics

By geography the global chemical tanker shipping market can be broadly segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific leads the global chemical tanker shipping market. Asia Pacific contributes one-third of the global Chemical tanker market and is likely to experience considerable growth due to petrochemical/refinery expansion and growth in infrastructure development. Moreover, growing GDP of emerging economies like India and Singapore is likely to drive the market in the region. Europe follows Asia Pacific in the global chemical tanker shipping market. Development of shale gas is likely to drive the North America market and refinery expansion projects are likely to drive the Middle East market.

Global key players operating in the chemical tanker market are JO Tankers (Norway), Stolt-Nielsen Ltd (Bermuda), Navig8 Chemicals, Odfjell (Norway), Eitzen Chemical (Norway), Nordic Tankers (Denmark), Tokyo Marine Asia Pte Ltd. (Japan), Seatrans chemical tankers (Norway), Berlian Laju Tanker (Indonesia), and IINO KAIUN KAISHA Ltd. (Japan)

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