End-of-year spot rates for chemical tankers are strong thanks to a burst of cargo activity during December, but shipbrokers say a long-term market improvement is still two years away.
Charterers are rolling over contract freight rates at flat or reduced levels into next year. But shipowners expect a better market once high-sulphur emissions rules kick in from 2020.
The Middle East Gulf-to-South Korea spot rates for chemical tankers were up 18% to mid-December, Clarksons says, while the Rotterdam-Houston voyage was up 13%.
