Chemical tanker orderbook 14% of current fleet with 66% to be delivered in 2003 (Source: Drewry)

According to the latest Drewry Chemical Carrier Quarterly, at the end of 2002 the chemical carrier fleet stood at 1,761 tankers of 24.4 million dwt. The fleet is estimated to have grown by 1.2% in 2002, not as strongly as in previous years due to increased levels of recycling.

During 2002, 78 chemical tankers of 1.6 million dwt were ordered, which was significantly higher than in previous years. The total orderbook stands at 155 tankers of 3.3 million dwt representing close to 14% of the fleet. 66% of these orders are expected to be delivered in 2003.

Traditionally there have been low levels of recycling of chemical tankers, but lately recycling has been increasing due to the increasing age profile of the fleet. 17 chemical tankers of 0.35 million dwt were sold for recycling during 2002.