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The Chemical Tanker Market update
In 2025 the TCE rates started to soften, however this process was halted in 2026 due to the closure of the Strait of Hormuz. MR product tanker TCE rates were quick to react due to their increased spot market exposure. This can be a precedent for elevated rates in the chemical tanker market.
What Is Driving The Time Charter Equivalent (TCE) rates In The Chemical Tanker Market?
- Steadily growing global chemical tanker volume in line with global economic growth
- Geopolitical disruptions cause trade dislocations and a higher tonne-mile demand
- Limited swing tonnage from product tankers, due to a strong market that is estimated to remain for the time-being
- Insufficient orderbook due to high newbuild prices and an ageing existing fleet
Over the last four years, the chemical tanker operators have had TCE rates allowing them to generate cash.
In 2025 the TCE rates started to soften, however this process was halted in 2026 due to the closure of the Strait of Hormuz. MR product tanker TCE rates were quick to react due to their increased spot market exposure. This can be a precedent for elevated rates in the chemical tanker market.
“Ship owners are enjoying a strong market, and good times are when owners look to explore new combinations that capture future value. We anticipate that these circumstances will result in ship owners reviewing their strategic options, including newbuilding investments, mergers, acquisitions or exits.”
Rick ter Maat & Niklas Kaiser, Partner & Consultant Maritime & Offshore
Our track-record in Maritime & Offshore
At JBR, we boast a maritime advisory history since 1984. We have moved and lived with the many waves this sector has experienced over the past decades. We are happy to assist you with our experience, knowledge and skills in future strategic choices, investment issues and to help you understand the issues.
- Strategy & Benchmark, Stolt Nielsen: Advised on strategic decision-making and a benchmark in the chemical tanker operation
- Ship Financing, Dutch Shipping Investments: Raised capital and attracted investors to purchase six stainless steel chemical tankers
- Buy Side, Team Tankers: Advised on the acquisition of the European chemical tanker business of Team Tankers
- Sell Side & Refinancing, De Poli Tankers: Advised on the sale and refinancing of chemical tanker operator De Poli Tankers
Interested to learn more? Let’s talk.