CS Haisheng scraps old chemical tanker

The 29-year-old, 3,671-dwt chemical tanker Jin Hai Lian will be sent to Fujian Xinyuan Shipbuilding for demolition, Shanghai-listed CS Haisheng announced.

CS Haisheng noted that the elderly chemical tanker is nearing the end of its operational lifespan, and it has lost it competitiveness in the market, in addition to concerns over the safe operation of the ship.

“At present, the chemical tanker market is undergoing a downturn of surplus capacity but limited demand. Domestic ports have placed restrictions that chemical tankers older than 15 years old would not be allowed to enter. These factors led to the company’s decision to scrap the old chemical tanker,” CS Haisheng said.