In October, the chemical tanker called Nu-Shi Nalini, drifted aground 2 nautical miles of Dona Paula, Goa. The vessel was anchored at the inner anchorage of the Mormugao Port in Goa before it broke loose from its restraints and began drifting towards the shore.
Denmark has put a fine on French oil and gas major Total, of 500,000 Danish crowns ($75,145) for discharging chemicals in the North Sea, by a company it acquired in 2017, according to the Danish broadcaster DR. The former oil unit of Maersk, Maersk Oil, was reported to the police by the Danish environmental protection agency, back in 2017.
According to Drewry, China’s developing increasing demand for chemical shipping is due to strengthen coastal freight rates. The demand is being boosted by the fast growth of the Chinese base chemical production capacity. Mainly, about 55% of the new production capacity is placed in East China, 23% in North China, whereas another 22% in South China.
A new petrochemical industrial zone will be built in Turkey, after the Port of Rotterdam and Rönesans Holding signed a framework cooperation agreement on September 17. The Ceyhan Mega Petrochemical Industrial Zone will mainly focus on petrochemical plants.
Chemical shipping freight rates will be more weak during 2018, because of depressed outlook on overtonnaged long haul routes. The enter of new builds into service will weaken freight rates in 2018. It will also affect CPP, which will continue to be important for supply changes in the chemicals/vegoils sector.
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