Nantong Tongbao Shipbuilding has entered into a deal with Shanghai Dingheng Shipping and Xiamen Xiangyu Group over the construction of eight stainless steel chemical tankers worth RMB1bn ($160.95m), reports said.

Stolt Tankers has bought three parcel tankers from Odfjell Tankers.

Odfjell has reported a $32m loss in the first quarter, as its chemical tanker division lost $28m.

Avic International Maritime Holdings (Avic Maritime) is looking to turnaround its two loss-making shipyards in China, while at the same time continue its diversification mainly into EPC (engineering, procurement and construction) projects and OSV...

A further restructuring of Berlian Laju Tanker (BLT) will see the shipowner transfer 27 vessels to a newly formed company NewCo, owned by all the lenders under a mandated lead arranger (MLA) facility agreement.

Milaha is in talks with United Arab Chemical Carriers (UACC) over a possible combination of their product and chemical shipping divisions

Niels Stolt-Nielsen has stated there are no signs of improvement for the chemical tanker market, as utilisation and rates slipped at Stolt Tankers in the first quarter.

The fall in Chinese demand for chemicals will be a major contributing factor to yet another challenging year for the chemical tanker shipping market, according to the latest chemical forecaster published by shipping consultant Drewry.

China’s Sainty Marine, Nantong Mingde Heavy Industry and Nantong Runde Ship Engineering will jointly sell four chemical tankers newbuildings at a combined price of around $160m to Celsius Shipping.

Odfjell cut its full year loss to $75m in 2014, down from $108m in 2013 as it forecasts continued imbalance in the chemical tanker market.