Chemical tanker shipping faces another challenging year of falling freight rates in 2015, but the trade is expected to recover next year, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.
Dow Chemical is investing $6bn to enlarge its manufacturing facilities in the United States by 40 percent, based on a wager that low natural gas prices here will persist into the middle of the next decade, a Dow executive said recently.
LPG shipping earnings are forecast to remain buoyant on the back of low oil prices and the absence of fuel substitution, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
The global lubricants market is estimated to reach a demand totaling 44,165 kilo tons by 2020, up from 39,140 kilo tons in 2013, according to a report from Transparency Market Research. The increase is based on growth rates of 1.72 percent between 2014 and 2020.
The International Chamber of Shipping says that the shipping and bunker refining industries should recognize that the global 0.5-percent sulfur-in-fuel cap, currently set to go into effect in 2025, may be implemented worldwide by 2020.
A steep rise in vessel orders risks bringing the recent bonanza in oil tanker shipping to an abrupt end, according to the latest edition of the Tanker Forecaster, published by shipping consultancy Drewry.
The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs, shipping and trade sources said.
For more than 50 years, global production of plastic has continued to rise. Some 299 million tons of plastics were produced in 2013, representing a 4 percent increase over 2012. Recovery and recycling, however, remain insufficient, and millions of tons of plastics end up in landfills and oceans each year, according to Gaelle Gourmelon, communications and marketing manager at the Worldwatch Institute.
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