Chemical shipping freight rates will weaken through 2018 due to the depressed outlook on overtonnaged long-haul routes, according to UK-based shipping consultancy Drewry.
Some 200 IMO tankers aggregating 3.1 mdwt are scheduled to be delivered in 2018.
The influx of new tonnage will be offset to a small degree by scrapping of older tonnage especially in anticipation of the entrance into force of environmental regulations such as the new Ballast Water Treatment Convention and the sulfur cap.
