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The chemical tanker market butterfly effect

The “shipping industry” is an interesting concept. It is a network of intertwining vines, of various industries coming together to make one big super-industry. As the well-known butterfly effect suggests, a small change in one area can have a much larger impact in another.

This is not to say that all changes are small, some are quite significant. However, what I am getting at here is that an improvement in one area can have an improvement in another.

The beginning of 2015 for the chemical tanker market, like many other sectors began with what would look to be another challenging year ahead with improvements coming the year after. With the net increase of the global chemical fleet reported at likely to be 7%, the sector was described as being “moderated” (Fatima, Drewery).

August saw the chemical market being influenced by the high demand for specialist routes and CPP which remained even with the delivery of newbuildings throughout the year. Although difficult to properly separate the chemicals and products, it certainly benefited from the upswing.

“Chinese imports”, according to Clarksons Platou Securities and “strong margin for chemical manufacturers” has seen the improvement continue. The figures support this with “fleet growth at 2.4%, while demand had grown 3%”.

According to Niels Stolt-Nielsen “bunker costs were lower” and “additional volumes in the spot market” which continued to help with improvements; it certainly has been an interesting year for this sector.

The initial view of a poor market turned good has culminated in the close of 2015 seeing an exclusively retained search for Spinnaker Global with a world leading chemical tanker owner to take on the role of Global Manager for their new building & technical department.

This role is for an experienced naval architect with proven years in project management. A process driven skilled manager to focus on asset management.

The responsibilities of the role will be to develop and manage the newbuilding programs, along with providing support and project management on shipping asset related projects.

This is the perfect opportunity for a process-driven people manager to utilise their technical knowledge, skills and experience to play a key part in a dynamic environment.

To discuss further please feel free to contact David Tubb at dtubb@spinnaker-global.com

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