Tongbao Shipbuilding bags deal to build eight chemical tankers

Tongbao Shipbuilding clinched its first ever deal to construct stainless steel chemical tankers, and said it will require three to five years to build the eight ships of 2,000-15,000 dwt in capacity, local media reported.

Li Duozhu, chairman of Dingheng Shipping, subsidiary of investment firm Dingheng Group, believed that the chemical tanker shipping market has started to recover from its low. He added that in line with China’s growth, demand for chemical tankers will be in an uptrend.

Li predicted that over the next 10 years, demand for chemical tankers will increase by fivefold from the current levels.