Recent developments in Chemical Carrier fleets

Charles Barton
Associate Consultant to Drewry Shipping

September 2005

Recent developments in Chemical Carrier fleets

Existing fleets

Concentrate on Majors (7) with Deep Sea Services

- Stainless Steel and Coated ships and CoAs
requiring regular services
Add 3 Asian Fleets that are growing and have
potential to become Deep Sea Majors

Recent developments in Chemical Carrier fleets

Majors current fleets

Operator

DWT

Ships

Avg DWT

IMO 1 & 2

% SUS

Avg Age

Odfjell ASA

2,445,527

93

26296

81%

55%

14

Stolt-Nielsen

2,205,250

90

24503

76%

59%

13

Tokyo Marine

785,696

49

16035

79%

70%

Jo Tankers

784,417

30

26147

83%

78%

13

Iino/Fairfield(A
CC)

704,208

32

22007

97%

97%

MISC

377,899

13

29069

79%

22%

10

Chembulk

390,720

17

22984

89%

85%

324

23746

82%

64%

11

Total Existing

7,693,717

Recent developments in Chemical Carrier fleets

Asian chemical fleets

Operator

DWT

Ships

Avg DWT

IMO 1 & 2

% SUS

Avg Age

Berlian Laju

211,367

23

9190

87%

72%

Koyo Kaiun

136,668

15

9111

96%

96%

Stolt-Nielsen

134,426

13

10340

93%

93%

Ofjell ASA

133,713

14

9551

100%

100%

Tokyo Marine

122,194

15

8146

95%

95%

Tatsumi

112,517

12

9376

96%

96%

Total Existing

850,885

92

9249

94%

90%

Recent developments in Chemical Carrier fleets

Other candidates
Dorval 18 ships - 2 recently sold
Serromah (Daitoh) 8 ships
Clipper Wonsild 22 ships
Eitzen 12 ships
Finaval 7 ships some not really chemical carriers
Marnavi 13 ships

Recent developments in Chemical Carrier fleets

Majors new buildings

Operator

DWT

Ships

Avg DWT

IMO 1 & 2

% SUS

Increase 05

Odfjell ASA

845,899

26

32535

100%

58%

35%

Stolt-Nielsen

472,300

14

33736

100%

55%

21%

Tokyo Marine

313,197

16

19575

100%

100%

40%

0%

0%

179,220

25603

100%

100%

25%

0%

0%

137,000

27400

100%

100%

35%

68

28641

100%

71%

26%

Jo Tankers
Iino/Fairfield(A
CC)
MISC
Chembulk
Total Existing

1,947,616

Recent developments in Chemical Carrier fleets

Asian new buildings

Operator

Ships

Avg DWT

IMO 1 & 2

% SUS

Increase 05

79,600

19900

100%

100%

38%

8.750

8750

100%

100%

6%

Stolt-Nielsen

0%

0%

Odfjell ASA

0%

0%

Tokyo Marine

26,700

8900

100%

100%

22%

Tatsumi

37,300

12433

100%

100%

33%

11

13850

100%

100%

18%6

Berlian Laju
Koyo Kaiun

Total Existing

DWT

152,350

Recent developments in Chemical Carrier fleets

Other candidates new buildings

Dorval 3 ships - Avg 20,800 dwt 100% sus
Clipper Wonsild 17 ships - sus or M.L.
Eitzen 18 ships 1 sus balance coated
Finaval no new buildings
Marnavi 1 ship (maybe 2)
Serromah (Daitoh) 3 ships fully sus

Recent developments in Chemical Carrier fleets

Majors single side ships

Operator

DWT

Ships

Avg DWT

IMO 1 & 2

% SUS

Decrease 05

Odfjell

729,669

26

28064

55%

35%

30%

Stolt-Nielsen

839,512

31

27081

59%

21%

38%

Tokyo Marine

242,994

14

17357

44%

22%

31%

Jo Tankers

341,841

13

26295

62%

62%

44%

16,970

16970

0%

0%

2%

123,745

24749

49%

11%

33%

0%

0%

90

25497

56%

31%

30%

Iino/Fairfield(AC
C)
MISC
Chembulk
Total Existing

2,294,731

Recent developments in Chemical Carrier fleets

Asian single side

Operator

Ships

Avg DWT

IMO 1 & 2

% SUS

Decrease 05

13,944

13944

67%

67%

7%

0%

0%

27,849

9283

68%

68%

21%

0%

0%

Tokyo Marine

12,939

6470

56%

56%

11%

Tatsumi

16,773

8387

73%

73%

15%

Total Existing

71,505

8938

67%

67%

8%

Berlian Laju
Koyo Kaiun
Stolt-Nielsen
Odfjell ASA

DWT

10

Recent developments in Chemical Carrier fleets

Other candidates single side

Dorval 2 ships - Average 9,915 dwt
Clipper Wonsild 6 ships
Eitzen 6 ships
Finaval 0 ships
Marnavi 0 ships
Serromah (Daitoh) 0 ships

11

Recent developments in Chemical Carrier fleets

Majors 2010 status

Operator

DWT

Sh
ip
s

Avg DWT

IMO 1 & 2

% SUS

Average 2010

Odfjell

2,561,757

93

27546

96%

62%

11 yrs.

Stolt-Nielsen

1,838,038

73

25179

90%

76%

11 yrs.

Tokyo Marine

855,899

51

16782

100%

100%

7 yrs.

Jo Tankers

442,576

17

26034

100%

92%

11 yrs.

Iino/Fairfield(A
CC)

866,458

38

22802

100%

100%

7 yrs.

MISC

254,154

31769

94%

28%

12 yrs.

Chembulk

527,720

22

23987

92%

89%

8 yrs.

302

24327

95%

77%

10 yrs.

Total Existing

7,346,602

12

Recent developments in Chemical Carrier fleets

Asian fleets 2010 status

Operator

DWT

Ships

Avg DWT

IMO 1 & 2

% SUS

Avg 2010

Berlian Laju

277,023

26

10655

92%

80%

10

Koyo Kaiun

145,418

16

9089

96%

96%

Stolt-Nielsen

106,577

10

10658

100%

100%

11

Odfjell ASA

133,713

14

9551

100%

100%

Tokyo Marine

135,955

16

8497

100%

100%

Tatsumi

133,044

13

10234

100%

100%

Total Existing

931,730

95

9808

97%

93%

13

Recent developments in Chemical Carrier fleets

Chem-Tankers CV fleet 2005 status

Operator
Aksay Shipping
& Trading

DWT
107,801

Eurochem
Maritime

90,005

Total Existing

197,806

Ships

Avg DWT

IMO 1 & 2

% SUS

Avg 2005

10

10780

63%

49%

13

11251

100%

96%

18

10989

79%

70%

10

14

Recent developments in Chemical Carrier fleets

2004 US East Coast and Gulf to Far East

Operator

DWT

Sailings

Tons carried in 2004

Market Share

Odfjell

1,926,560

40

1,502,033

23.29%

Stolt-Nielsen

1,430,559

42

995,423

15.43%

818,310

30

603,089

9.35%

1,080,332

21

901,584

13.98%

775,750

22

616,559

9.56%

1,452,499

20

965,428

14.97%

Chembulk

449,077

12

374,448

5.81%

Dorval

269,139

12

137,606

2.13%

Others

454,746

353,229

5.48%

TOTAL

8,656,972

Jo Tankers
Aurora
Formosa Plastics
Blystad

205

6,449,399

100.00%

15