CHEMICAL TANKER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In November 2021, Odfjell, a company specialising in worldwide seaborne transportation and storage of chemicals sannounced the disposal of its last short-sea vessels in the Asia Pacific market to focus on its core deep-sea chemical tanker business. The disposal of vessels at sea is regulated under specific conditions to prevent harm to the ocean environment. Vessels should only be disposed of at sea when land-based alternatives are not available.
• In November 2021, Hafnia Ltd., affiliated with BW Group, acquired a fleet of 32 modern and fuel-efficient IMO II tankers from Oaktree Capital Management's Chemical Tankers Inc. This acquisition included various types of tankers such as MR, Handy, and Intermediate vessels, enhancing Hafnia Ltd.'s commercial activities and trading flexibility.
• In July 2021, Aurora Tankers, a subsidiary of IMC Industrial Group, formed a strategic partnership with Golden Stena Baycrest Tankers (GSB) to manage and operate stainless steel chemical tankers. The partnership aimed to expand across the Asia Pacific region for the two companies, focusing on the J19 stainless steel tanker segment.