Chemcials tankers market Analysis-2020

1. MARKET DATA FORECAST Chemical Tanker Market Forecast (2020- 2025) BHARGAV MOTURI 3/18/2020 We Think Through different layers, we work Across different Verticals

2. Global Chemical Tanker Global Chemical Tanker Market value and growth: Market value and growth: The global chemical tankers market was worth USD 26.59 billion in 2020 and is estimated to attain USD 33.11 billion by 2025 with a current compound annual growth rate (CAGR) of around 4.5% during the review period 2020 and 2025. Gl Global Chemical Tanker Market overview: obal Chemical Tanker Market overview: Chemical tankers are cargo ships made for the shipping of any liquid bulk chemicals. These tankers carry chemicals in a different form. Chemical tankers are mainly made to maintain the consistency of the substances they take on board. These tankers are covered with some elements which make it easier to recognize the chemicals to be transported. Different kinds of chemical tankers are usually employed to transport bulk chemicals. Segmentation can be done on the basis of criteria like the kind of chemical carried by the tanker and the type of coating used in the tanker and the travel routes and the type of product. Request Sample: https://www.marketdataforecast.com/market-reports/chemical-tankers-market/request-sample In the last few years, the array of chemicals transported in bulk has mainly grown, and unique ranges of ships are highly employed to meet the requirement. Apart from the specialist ships made to ship bulk chemicals by sea, transportation of bulk chemicals also needs specialized training for the crew involved in the complete procedure, starting from construction/design of the vessels to loading, storing, discharge, and tank cleaning operations. Due to the complicated characteristics of the different chemicals generally transported in bulk through carriers, it is critical that the crew must be aware of the potential risks related to handling them. Low crude oil price is estimated to enhance profit margins of refineries, hence promoting North American oil product trade. In 2019, low oil costs escalated oil trade to countries like China, thus offering better profitability to vessel owners. Vegetable oils & fats sector is estimated to rise as the second-fastest expanding sector due to its increasing use in culinary applications, biodiesel, pet food additives, and also in the manufacturing of candles, soaps, skin care products, perfumes and other personal care products. Products like palm oil included in this sector are traded on a large scale, particularly for biodiesel production. Global Chemical Tanker Market segmentation: Global Chemical Tanker Market segmentation:

3. On the basis of Type, the market is separated into IMO type 1, IMO type 2, IMO type 3.The IMO type 1 of tankers is employed for shipping most dangerous chemicals. IMO type II tankers are used to ship less hazardous chemicals, and the IMO type III tankers are used to send the least unstable ranges of chemicals. Of these, the IMO type 1 segment is likely to play a prominent role in the extension of the global chemical tankers business due to the globalization and commercialization of international trade. On the basis of type of coating, the market is separated into stainless steel tanks, , epoxy coated tankers. Epoxy coated chemical tankers are generally employed for the transportation of vegetable oil. This kind of coating is predicted to expand with a noteworthy growth rate in the next few years in the worldwide chemical tankers market. Globa Global Chemical Tanker Market geographical analysis: l Chemical Tanker Market geographical analysis: On the basis of region, the Global Chemical Tanker Market is segregated into regions of North America, South America, Asia Pacific, Middle East and Africa, and Europe. The Asia Pacific chemical tanker market currently leads the global business. Nearly one-third of the complete revenue of the worldwide chemical tanker shipping market is contributed by the Asia Pacific market, and the regional market is estimated to showcase high expansion due to the flourishing refinery/petrochemical market and escalated focus and funds invested towards the advancement of sea transportation infrastructure in the region. Furthermore, the increasing GDPs of growing economies like India, China and Singapore in the region are also resulting in the escalated demand for a range of chemicals, therefore driving the market for chemical tankers across the area. The Europe chemical tanker market follows Asia Pacific and is estimated to remain one of the most prominent regions for the chemical tankers market in future. Global Chemical Tanker Market key players: Global Chemical Tanker Market key players: Major companies plying their trade in the Global Chemical Tanker Market include Bahri (Saudi Arabia), Stolt-Nielsen (UK), Odfjell (Norway), Navig8 (UK), MOL Chemical Tankers (Singapore), Nordic Tankers (Denmark), Wilmar International (Singapore), MISC Berhad (Malaysia), Team Tankers (Bermuda), and Lino Kaiun Kaisha (Japan), among others. Recent Developments and Trends Recent Developments and Trends

4. Bahri Chemicals has become a part of Maersk Tankers and Cargill’s joint medium-range (MR) pool introduced in September 2019. With the inclusion of the four vessels, the MR pool will escalate to over 65 vessels, bolstering the pool’s commercial presence in the Middle East. Essential shipping and terminals operator Stolt-Nielsen has agreed to purchase the chemical tanker fleet of fellow Norwegian firm Jo Tankers for $575 million. The purchase price involves 13 chemical tankers and a 50% share in a joint venture with eight new buildings.