The chemical tankers market is anticipated to face a challenging couple of years ahead due to lingering oversupply made worse by many newbuilding deliveries, according to shipping analyst Drewry.

Wilmar’s shipping arm Raffles Shipping Corporation has booked six 19,700-dwt oil and chemical tankers at China’s Jinhai Heavy Industry.

Indonesian oil and gas shipping firm Berlian Laju Tanker (BLT) said its cost-efficiency efforts had helped to cushion the company from further drops in financial performance in the third quarter, local reports said.

Stolt-Nielsen has received unconditional approvals from the competition authorities for the acquisition of Jo Tankers’ chemical tanker operations, paving the way for the deal to be completed before end-November this year.

Odfjell has revealed that it will “most likely” cancel orders for a remaining five LPG/ethylene gas carriers at China’s Nantong Sinopacific Offshore & Engineering (SOE) due to delivery delays.

Odfjell has confirmed an order for four stainless steel chemical tankers at $60m apiece with China Shipbuilding Trading and Hudong-Zhonghua Shipbuilding (Group) Co.

Sweden’s Sirius Shipping has placed an order for two fuel-efficient, LNG-ready 7,999-dwt chemical tankers at China’s Avic Dingheng Shipyard.

Odfjell has penned a letter of intent valued at $240m to build four stainless chemical tankers at a state-owned Chinese shipyard, with the final contract expected to be signed in the second half this year.

Stolt-Nielsen is buying out Jo Tankers chemical tanker operations for $575m, including its stake in a joint venture owning newbuildings.

CSSC Chengxi Shipyard has bagged its first ever deal to build chemical tankers with an order made by Sweden’s Ektank for four 18,600 dwt units.