John T. Essberger of Hamburg-based Essberger Tankers has agreed to buy fellow chemical tanker operator Crystal Nordic, headquartered in Copenhagen, for an undisclosed sum.

Thun Tankers, part of the Gothia Tanker Alliance network, has exercised an option for a fifth product/chemical tanker to be built at China’s Avic Dingheng Shipbuilding.

Stolt-Nielsen Limited (SNL) saw its first half profit plunged despite a rise in revenue, as the group was dragged down by continued softness in the chemical tanker market.

Odfjell is buying a secondhand chemical tanker for $25.5m.

Odfjell has recorded a steep fall in net profit for the first quarter compared to the year-ago period, as the company is anticipating a challenging year ahead.

The shipping fleet trading in chemicals and vegoils is projected to expand and outpace the clean petroleum products (CPP) fleet on the back of rising demand for methanol and vegoil, according to global shipping consultancy Drewry.

First Ship Lease Trust (FSL Trust) has inked a new agreement to extend the bareboat charters for three oil products tankers.

Odfjell has confirmed a deal to build a pair of stainless steel chemical tankers at Hudong-Zhonghua Shipbuilding (Group) Co in China.

Odfjell has penned a letter of intent for a pair of 38,000-dwt chemical tankers worth $116m at China’s Hudong-Zhonghua Shipbuilding (Group) Co.

Odfjell has returned to the black in 2016 with a net profit of $100m, as it looks to expand its fleet to 100 ships in a continuing challenging market.