Global product/chemical tanker market is to see a recovery in 2014, with global trade growth outpacing fleet growth.
Clarksons said that in 2014 product-carrier fleet would grow by 2% year-on-year, while seaborne trade expand by around 4%.
As for chemical tanker, tonnage growth and trade growth are expected to be 2% and 6% respectively, according to SPI Marine.
While export of oil products from India, the Middle East, US Gulf of Mexico, China, etc., is prospected to expand next year, there will be growing demand for eco-friendly gas oil import from Europe, Latin America, Africa, Southeast Asia, etc, amid tightened environmental regulations.
Chemical tanker freight market would also see growth of trade activity as rising exports out of the US Gulf are predicted.
Meanwhile, market players pointed out that despite a positive forecast for product and chemical tanker markets, owners would better not place "too many" newbuilding orders.