odfjell chemical tanker bow americas

Bumper Profits for Chemical Tankers Spurs Newbuild Order

Rob Almeida
Total Views: 15
November 4, 2013

Bow Americas, a Odfjell-owned chemical tanker, image: Odfjell

Hyundai Mipo Dockyard (HMD) announced today they have signed a newbuild order with an undisclosed European shipowner for four chemical tankers for a total consideration of KRW 129.7 billion (USD $122 million).

This order comes only 5 days after a monster order for 16 new product tankers from a Middle Eastern shipowner.

As Swetha Gopinath and Garima Goel reported last week, demand for chemical tankers is beginning to outpace capacity resulting in “bumper profits for the handful of companies that own and operate them.”

Further reading: Chemical Tankers in Demand as U.S. Exports Soar


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