Norwegian chemical tanker owner Odfjell hints that it may be looking to order new chemical tankers in the near future.
In a first-quarter conference call, president Jan Hammer pointed to good prices at several yards for coated tankers and low demand for older secondhand tonnage due to its poor fuel efficiency.
Today’s newbuilding orderbook stands at 6% of the core segment of the chemical tanker market, Mr Hammer said. Disposals are expected to continue and fleet expansion will draw to a close at a time when the markets are slowly opening.
Mr Hammer sees little demand for more expensive and sophisticated stainless steel vessels that can be built at few yards and whose prices are unlikely to drop. However, cheaper coated chemical tankers can be ordered at more yards and prices have now become tempting, he says.
Meanwhile, advances in engine designs and propulsion fuel efficiency, along with bunker price trends and new emissions regulations makenewbuildings appear more attractive than secondhand tonnage.