Logistics & Shipping - Strategic Impact on Global Chemical Industry Competitiveness

Logistics & Shipping Strategic Impact on Global Chemical Industry Competitiveness A Multi-Client Evaluation designed to deliver genuine Competitive Ad...
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Logistics & Shipping Strategic Impact on Global Chemical Industry Competitiveness A Multi-Client Evaluation designed to deliver genuine Competitive Advantage to Subscribing Organisations June 2004

Nexant Chem Systems 1st Floor South, Griffin House, 161 Hammersmith Road, London W6 8BS www.chemsystems.com Tel: +44 (0) 20 7950 1600 Fax: +44 (0) 20 7950 1550

Drewry Shipping Consultants Ltd Drewry House, Meridian Gate 213 Marsh Wall, London E14 9FJ www.drewry.co.uk Tel: +44 (0) 20 7538 0191 Fax: +44 (0) 20 7987 9396

Logistics & Shipping Strategic Impact on Global Chemical Industry Competitiveness

Contents Section 1

2

3

4

Page

Executive Summary ...................................................................................................

1-1

1.1

INTRODUCTION ...............................................................................................

1-1

1.2

PETROCHEMICAL TRADE OUTLOOK ............................................................

1-3

1.3 1.4

SHIP DEMAND ................................................................................................. SHIP SUPPLY .....................................................................................................

1-9 1-20

1.5

THE FREIGHT MARKET......................................................................................

1-29

1.6

PORTS ...............................................................................................................

1-40

1.7 1.8

TRANSPORTATION COST OPTIONS ............................................................... SUMMARY CONCLUSIONS AND STRATEGIC IMPLICATIONS ....................

1-43 1-46

1.9

STRATEGIC IMPLICATIONS .............................................................................

1-54

1.10

OVERALL CONCLUSIONS ..............................................................................

1-56

1.11

RECOMMENDATIONS ....................................................................................

1-57

Introduction................................................................................................................. 2.1 OBJECTIVE .......................................................................................................

2-1 2-1

2.2

OVERVIEW .......................................................................................................

2-1

2.3

REGIONAL COVERAGE .................................................................................

2-2

2.4

PRODUCT COVERAGE...................................................................................

2-3

2.5 2.6

TYPES OF PRODUCT AND SHIPPING ARRANGEMENTS .............................. TIME PERIOD ....................................................................................................

2-4 2-5

2.7

APPROACH .....................................................................................................

2-6

2.8

GLOSSARY OF TERMS .....................................................................................

2-7

Petrochemical Trade Outlook.................................................................................. 3.1 INTRODUCTION ...............................................................................................

3-1 3-1

3.2

MIDDLE EAST....................................................................................................

3-2

3.3

NORTH-EAST ASIA ...........................................................................................

3-66

3.4

WESTERN EUROPE ...........................................................................................

3-86

3.5 3.6

TRADE GRIDS ................................................................................................... CONCLUSIONS................................................................................................

3-92 3-107

Ship Demand ..............................................................................................................

4-1

4.1.

INTRODUCTION ...............................................................................................

4-1

4.2. 4.3.

CHEMICAL PARCEL TANKERS ....................................................................... LIQUEFIED GASES ............................................................................................

4-2 4-13

4.4.

BULK SOLID CHEMICALS ................................................................................

4-17

4.5.

CONCLUSIONS................................................................................................

4-24

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Logistics & Shipping Strategic Impact on Global Chemical Industry Competitiveness

5

6

7

Ship Supply..................................................................................................................

5-1

5.1

INTRODUCTION ...............................................................................................

5-1

5.2

CHEMICAL TANKERS ......................................................................................

5-2

5.3 5.4

FUTURE TRENDS IN OWNERSHIP .................................................................... LPG TANKERS...................................................................................................

5-19 5-20

5.5

CONTAINER VESSELS ......................................................................................

5-28

5.6

CONCLUSIONS................................................................................................

5-35

The Freight Market......................................................................................................

6-1

6.1 6.2

INTRODUCTION ............................................................................................... BULK SOLID CHEMICALS ................................................................................

6-1 6-4

6.3

BULK LIQUID CHEMICALS...............................................................................

6-7

6.4

LIQUEFIED GASES ............................................................................................

6-17

6.5 CONCLUSION ................................................................................................. Ports ..............................................................................................................................

6-24 7-1

7.1

INTRODUCTION ...............................................................................................

7-1

7.2

KEY ASSUMPTIONS ..........................................................................................

7-2

7.3

PORT SELECTION .............................................................................................

7-4

7.4 7.5

BELGIUM........................................................................................................... CHINA ..............................................................................................................

7-6 7-13

7.6

EGYPT ...............................................................................................................

7-21

7.7

INDIA ................................................................................................................

7-27

7.8

INDONESIA.......................................................................................................

7-38

7.9 7.10

IRAN.................................................................................................................. JAPAN ..............................................................................................................

7-40 7-45

7.11

KUWAIT .............................................................................................................

7-49

7.12

THE NETHERLANDS ..........................................................................................

7-52

7.13 7.14

OMAN .............................................................................................................. PHILIPPINES ......................................................................................................

7-59 7-63

7.15

QATAR..............................................................................................................

7-65

7.16

SAUDI ARABIA .................................................................................................

7-71

7.17

SINGAPORE .....................................................................................................

7-88

7.18 7.19

SOUTH KOREA ................................................................................................. THAILAND.........................................................................................................

7-93 7-98

7.20

UNITED ARAB EMIRATES .................................................................................

7-100

7.21

CONCLUSIONS AND RECOMMENDATIONS ...............................................

7-109

ii 40170 © Nexant ChemSystems/Drewry Shipping Consultants Ltd

Logistics & Shipping Strategic Impact on Global Chemical Industry Competitiveness

8

9

Transportation Cost Options .....................................................................................

8-1

8.1.

INTRODUCTION ...............................................................................................

8-1

8.2.

CAPITAL COSTS...............................................................................................

8-3

8.3. 8.4.

VESSEL OPERATING COSTS............................................................................ VOYAGE COSTS..............................................................................................

8-5 8-10

8.5.

THE TRANSPORTATION COST MODEL ..........................................................

8-15

8.6.

CONCLUSIONS................................................................................................

8-20

Strategic Implications................................................................................................

9-1

9.1 9.2

INTRODUCTION ............................................................................................... IMPACT ON COST OF DELIVERY OF MATERIALS FROM THE MIDDLE EAST

9-1 9-2

9.3

STRUCTURAL AND POLITICAL RISK FACTORS ..............................................

9-17

9.4

STRATEGIC IMPLICATIONS .............................................................................

9-18

9.5

OVERALL CONCLUSIONS AND RECOMMENDATIONS..............................

9-22

Appendix

Page

A

Inter-Regional Trade Distances................................................................................

A-1

B

Vessel Configurations................................................................................................

B-1

C

Chemicals Classification ..........................................................................................

C-1

D

Ports ..............................................................................................................................

D-1

iii 40170 © Nexant ChemSystems/Drewry Shipping Consultants Ltd

Logistics & Shipping Strategic Impact on Global Chemical Industry Competitiveness

Figure

Page

1.1

Bulk Solid Chemicals Net Trade Movements.........................................................

1-3

1.2

Middle East Bulk Solid Chemicals: Total Exports 2002-2012 .................................

1-4

1.3

Bulk Liquid Chemicals : Net Trade Movement ......................................................

1-5

1.4

Bulk Liquid Chemicals: Total Exports 2002-2012 ....................................................

1-6

1.5

Bulk Gases Net Trade Movements ..........................................................................

1-6

1.6

Bulk Gases: Total Exports 2002-2012 ........................................................................

1-7

1.7

Middle East Bulk Chemicals Trade ..........................................................................

1-7

1.8

Seaborne Trade in Bulk Liquids ................................................................................

1-10

1.9

Petrochemical Liquid Exports from the Middle East............................................

1-12

1.10: Development of World Container and General Cargo Trade..........................

1-15

1.11 Chemical Tanker Fleet Development ....................................................................

1-20

1.12 Chemical Tanker Supply and Demand Balance .................................................

1-21

1.13 Chemical Tanker Fleet Development ....................................................................

1-22

1.14 Chemical Tanker Fleet by Owner - 2004................................................................

1-23

1.15 LPG Fleet Development............................................................................................

1-25

1.16 LPG Ship Supply and Demand ................................................................................

1-26

1.17 Development of the Containership Fleet ..............................................................

1-27

1.18 Ship Cost and Charter Type Relationships.............................................................

1-30

1.19 Spot Rates for Easy Chemicals ................................................................................

1-33

1.20 Chemical Tanker Time Charter Rates.....................................................................

1-35

1.21 Freight Rates: Arabian Gulf to Mumbai, Singapore and Ulsan..........................

1-36

1.22 Forecast Time Charter Rates, by Vessel Size .........................................................

1-37

1.23 Petrochemical Gas Rates.........................................................................................

1-38

1.24 Historic Gas Tanker Rates..........................................................................................

1-38

1.25: Location of Ports ........................................................................................................

1-41

1.26 Some of the Variables in a Logistics Strategy .......................................................

1-47

1.27 Bulk Solid Chemicals: Total Net Trade 2002-2012..................................................

1-48

1.28 Bulk Liquid Chemicals: Total Net Trade 2002-2012 ...............................................

1-49

1.29 Commercial and Industrial Ports in the Middle East ............................................

1-51

3.1

China’s Major Petrochemical Complexes.............................................................

3-66

3.2

Bulk Solid Chemicals Net Trade Movements.........................................................

3-107

3.3

Bulk Solid Chemicals : Total Exports 2006 ...............................................................

3-108

3.4

Bulk Solid Chemicals : Total Exports 2012 ...............................................................

3-108

3.5

Bulk Solid Chemicals: Total Exports 2002-2012.......................................................

3-109

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3.6

Bulk Liquid Chemicals : Net Trade Movement ......................................................

3-109

3.7

Bulk Liquid Chemicals : Total Exports 2006 .............................................................

3-110

3.8

Bulk Liquid Chemicals : Total Exports 2012 .............................................................

3-110

3.9

Bulk Liquid Chemicals: Total Exports 2002-2012 ....................................................

3-111

3.10 Bulk Gases Net Trade Movements ..........................................................................

3-111

3.11 Bulk Gases : Total Exports 2006.................................................................................

3-112

3.12 Bulk Gases : Total Exports 2012.................................................................................

3-112

3.13 Bulk Gases: Total Exports 2002-2012 ........................................................................

3-113

3.14 Bulk Exports: Total Exports..........................................................................................

3-113

3.15 Middle East Bulk Chemicals Trade ..........................................................................

3-114

3.16 Middle East Bulk Chemicals Exports........................................................................

3-114

3.17 Middle East Bulk Chemicals Trade By Product......................................................

3-115

3.18 Middle East Bulk Chemicals Trade By Region .......................................................

3-115

3.19 Middle East: Bulk Chemicals Total Net Trade ........................................................

3-116

3.20 North-East Asia: Bulk Chemicals Total Net Trade ..................................................

3-116

3.21 South-East Asia: Bulk Chemicals Total Net Trade..................................................

3-117

3.22 Western Europe: Bulk Chemicals Total Net Trade ................................................

3-117

4.1

Seaborne Trade in Bulk Liquids ................................................................................

4-3

4.2

Petrochemical Exports from the Middle East .......................................................

4-5

4.3

Transportation Demand for Middle Eastern Petrochemical Exports by Destination ..................................................................................................................

4-12

4.4: Seaborne Trade in Liquefied Gases from Middle East ..........................................

4-13

4.5

Global Net LPG Trade ...............................................................................................

4-14

4.6: Development of World Container and General Cargo Trade............................

4-17

4.7: Middle East Bulk Solid Chemicals Exports ................................................................

4-20

4.8

Destination of Bulk Solid Chemical Exports from the Middle East......................

4-22

5.1

Cargo Tank Diagram: 38 000 dwt Stolt Sapphire Class Parcel Tanker..............

5-5

5.2

Chemical Tanker Fleet Development ....................................................................

5-7

5.3

Chemical Tanker Fleet Age Profile..........................................................................

5-8

5.4

Chemical Tanker Supply and Demand Balance .................................................

5-11

5.5

Chemical Tanker Fleet Development ....................................................................

5-12

5.6

Chemical Tanker Fleet by Owner - 2004................................................................

5-13

5.7

70,000+ m3 LPG Tanker .............................................................................................

5-21

5.8

LPG Fleet Development............................................................................................

5-22

5.9

LPG Fleet Development, by Size of Vessel.............................................................

5-24

5.10 LPG Ship Supply and Demand ................................................................................

5-24

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5.11 Ethylene Tanker Fleet Development, by Size of Vessel .......................................

5-26

5.12 Development of the Containership Fleet ..............................................................

5-28

5.13 Distribution of Containership Fleet by Size .............................................................

5-30

5.14 Containership Orderbook (2004-2006) by Size.....................................................

5-31

5.15 Containership Fleet Development..........................................................................

5-33

6.1

Ship Cost and Charter Type Relationships.............................................................

6-3

6.2

Forecast Average Freight Rates: Containers ........................................................

6-6

6.3

Spot Rates for Easy Chemicals ................................................................................

6-9

6.4

Chemical Tanker Time Charter Rates.....................................................................

6-11

6.5

Time Charter Rates by Vessel type and Deadweight, 1993 and 2003 .............

6-12

6.6

Freight Rates: Arabian Gulf to Mumbai, Singapore and Ulsan..........................

6-13

6.7

Freight Rates: Arabian Gulf North-West Europe ...................................................

6-14

6.8

Forecast Time Charter Rates, by Vessel Size .........................................................

6-16

6.9

Petrochemical Gas Rates.........................................................................................

6-19

6.10 Historic Gas Tanker Rates..........................................................................................

6-21

6.11 Forecast Time Charter Rates ....................................................................................

6-23

7.1: Location of Ports ..........................................................................................................

7-5

7.2 Port Locations in North-West Europe .........................................................................

7-6

7.3

Relative Position of Antwerp versus Other Ports in North-West Europe - 2003

7-7

7.4

Port of Antwerp ..........................................................................................................

7-8

7.5

Total Traffic 1975-2003 – Antwerp, Belgium ...........................................................

7-11

7.6: Port Locations in China, Japan and South Korea..................................................

7-13

7.7

China’s Major Petrochemical Complexes.............................................................

7-19

7.8

Port Locations in the Middle East ............................................................................

7-21

7.9 Port Locations in India ..................................................................................................

7-27

7.10 Port Locations in the Far East ....................................................................................

7-38

7.11 Port Locations in the Middle East .............................................................................

7-40

7.12 Port Locations in North-East Asia ..............................................................................

7-45

7.13 Port Locations in the Middle East .............................................................................

7-49

7.14 Port Locations in North-West Europe .......................................................................

7-52

7.15 Port of Rotterdam ......................................................................................................

7-53

7.16 Total Liquid Storage Rotterdam, Netherlands.......................................................

7-54

7.17 Total Throughput – Rotterdam, Netherlands ..........................................................

7-56

7.18 Port Locations in the Middle East .............................................................................

7-59

7.19 Port Locations in the Far East ....................................................................................

7-63

7.20 Port Locations in the Middle East .............................................................................

7-65

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7.21 Port Locations in the Middle East .............................................................................

7-71

7.22 Port Locations in the Far East ....................................................................................

7-88

7.23 Total Cargo Throughput – Singapore ......................................................................

7-91

7.24 Port Locations in North-East Asia ..............................................................................

7-93

7.25 Port Locations in the Far East ....................................................................................

7-98

7.26 Port Locations in the Middle East .............................................................................

7-100

7.27 Total Cargo Throughput – Jebel Ali/Port Rashid....................................................

7-106

8.1: Indicative Operating Costs for an LPG Carrier .......................................................

8-7

8.2

Forecast Vessel Operating Costs: Chemical Tankers ..........................................

8-9

8.3

Forecast Vessel Operating Costs: LPG Tankers.....................................................

8-9

8.4

Bunker Prices ...............................................................................................................

8-11

8.5

Indicative Port Charges for Various Regions .........................................................

8-13

9.1

Bulk Solid Chemicals : Total Exports 2002-2012......................................................

9-3

9.2

Bulk Solid Chemicals: Total Imports 2002-2012 ......................................................

9-4

9.3

Bulk Solid Chemicals: Total Net Trade 2002-2012..................................................

9-5

9.4

Bulk Liquid Chemicals : Total Exports 2002-2012 ...................................................

9-6

9.5

Bulk Liquid Chemicals: Total Imports 2002-2012 ....................................................

9-7

9.6

Bulk Liquid Chemicals: Total Net Trade 2002-2012 ...............................................

9-7

9.7

Commercial and Industrial Ports in the Middle East ............................................

9-10

9.8

Some of the Variables in a Logistics Strategy .......................................................

9-13

9.9

Spot Rates for Easy Chemicals ................................................................................

9-16

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Table

Page

1.1

Global Exports of Petrochemicals by Main Commodity, 2002-2012.................

1-10

1.2

Forecast Inter-Regional Seaborne Trade in Petrochemicals..............................

1-11

1.3

Transportation Demand for Petrochemicals .........................................................

1-12

1.4

Petrochemical Exports from the Middle East: Transportation Demand by Destination ..................................................................................................................

1-13

1.5

Global Seaborne Trade in Liquefied Gases ..........................................................

1-14

1.6

Transportation Demand for Petrochemical Gases ..............................................

1-14

1.7

Demand Generated by Middle Eastern Bulk Solid Chemical Exports.............

1-16

1.8

Evolution of Empty Container Movements............................................................

1-17

1.9

Structure of the Regional Chemical Fleets ............................................................

1-22

1.10 Development of Average Container Freight Rates.............................................

1-31

1.11 Forecast Average Freight Rates : Containers .......................................................

1-31

1.12 Annual Spot Rates for Easy Chemicals, 1991-2003...............................................

1-32

1.13 Historic Chemical Tanker Time Charter Rates .......................................................

1-34

1.14 Forecast Time Charter Rates – Parcel Chemical Tankers ...................................

1-36

1.15 Importing and Exporting Ports..................................................................................

1-40

1.16 Composition of Ship Costs........................................................................................

1-43

1.17 Chemical Tanker - Indicative Operating Costs ....................................................

1-43

2.1

Product Coverage.....................................................................................................

2-3

3.1

Bulk Solid Chemicals Capacities: Saudi Arabia....................................................

3-3

3.2

Bulk Solid Chemicals Net Trade: Saudi Arabia......................................................

3-5

3.3

Bulk Liquid Chemicals Capacity: Saudi Arabia ....................................................

3-6

3.4

Bulk Liquid Chemicals Net Trade: Saudi Arabia....................................................

3-7

3.5

Chemical Gases Capacity: Saudi Arabia .............................................................

3-9

3.6

Chemical Gases Net Trade: Saudi Arabia ............................................................

3-10

3.7

Bulk Solid Chemicals Capacities: Qatar ................................................................

3-12

3.8

Bulk Solid Chemicals Net Trade: Qatar ..................................................................

3-12

3.9

Bulk Liquid Chemicals Capacity: Qatar.................................................................

3-13

3.10 Bulk Liquid Chemicals Net Trade: Qatar ................................................................

3-13

3.11 Chemical Gases Capacity: Qatar..........................................................................

3-14

3.12 Chemical Gases Net Trade: Qatar .........................................................................

3-15

3.13 Bulk Solid Chemicals Capacities: Kuwait ...............................................................

3-16

3.14 Bulk Solid Chemicals Net Trade: Kuwait .................................................................

3-17

3.15 Bulk Liquid Chemicals Capacity: Kuwait ...............................................................

3-17

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3.16 Bulk Liquid Chemicals Net Trade: Kuwait...............................................................

3-18

3.17 Chemical Gases Capacity: Kuwait ........................................................................

3-18

3.18 Planned Olefins Projects: Iran ..................................................................................

3-19

3.19 Bulk Solid Chemicals Capacities: Iran ....................................................................

3-20

3.20 Bulk Solid Chemicals Net Trade: Iran ......................................................................

3-21

3.21 Bulk Liquid Chemicals Capacity: Iran.....................................................................

3-23

3.22 Bulk Liquid Chemicals Net Trade: Iran ....................................................................

3-24

3.23 Chemical Gases Capacity: Iran..............................................................................

3-25

3.24 Chemical Gases Net Trade: Iran .............................................................................

3-26

3.25 Bulk Solid Chemicals Capacities: United Arab Emirates .....................................

3-27

3.26 Bulk Solid Chemicals Net Trade: United Arab Emirates .......................................

3-28

3.27 Chemical Gases Capacity: United Arab Emirates...............................................

3-28

3.28 Chemical Gases Net Trade: United Arab Emirates ..............................................

3-29

3.29 Bulk Solid Chemicals Capacities: Turkey................................................................

3-30

3.30 Bulk Solid Chemicals Net Trade: Turkey..................................................................

3-31

3.31 Bulk Liquid Chemicals Capacity: Turkey ................................................................

3-32

3.32 Bulk Liquid Chemicals Net Trade: Turkey................................................................

3-32

3.33 Chemical Gases Capacity: Turkey .........................................................................

3-33

3.34 Chemical Gases Net Trade: Turkey.........................................................................

3-33

3.35 Bulk Solid Chemicals Capacities: Egypt.................................................................

3-34

3.36 Bulk Solid Chemicals Net Trade: Egypt...................................................................

3-35

3.37 Bulk Liquid Chemicals Capacity: Egypt .................................................................

3-36

3.38 Bulk Liquid Chemicals Net Trade: Egypt.................................................................

3-36

3.39 Chemical Gases Capacity: ....................................................................................

3-37

3.40 Chemical Gases Net Trade: Egypt .........................................................................

3-37

3.41 Bulk Solid Chemicals Capacities: Other Middle East ...........................................

3-39

3.42 Bulk Solid Chemicals Net Trade: Other Middle East .............................................

3-39

3.43 Bulk Liquid Chemicals Capacity: Other Middle East ...........................................

3-40

3.44 Bulk Liquid Chemicals Net Trade: Other Middle East...........................................

3-41

3.45 Chemical Gases Capacity: Other Middle East ....................................................

3-42

3.46 Bulk Solid Chemicals Capacities: Total Middle East.............................................

3-43

3.47 Bulk Solid Chemicals Net Trade: Total Middle East...............................................

3-43

3.48 Bulk Liquid Chemicals Capacity: Total Middle East .............................................

3-43

3.49 Bulk Liquid Chemicals Net Trade: Total Middle East ............................................

3-44

3.50 Chemical Gases Capacity: Total Middle East ......................................................

3-44

3.51 Chemical Gases Net Trade: Total Middle East .....................................................

3-44

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3.52 Bulk Solid Chemicals Capacities: India ..................................................................

3-46

3.53 Bulk Solid Chemicals Net Trade: India ....................................................................

3-46

3.54 Bulk Liquid Chemicals Capacity: India ..................................................................

3-47

3.55 Bulk Liquid Chemicals Net Trade: India..................................................................

3-47

3.56 Chemical Gases Capacity: India ...........................................................................

3-48

3.57 Chemical Gases Net Trade: India...........................................................................

3-48

3.58 Bulk Solid Chemicals Capacities: Thailand............................................................

3-50

3.59 Bulk Solid Chemicals Net Trade: Thailand..............................................................

3-50

3.60 Bulk Liquid Chemicals Capacity: Thailand ............................................................

3-51

3.61 Bulk Liquid Chemicals Net Trade: Thailand............................................................

3-52

3.62 Chemical Gases Capacity: Thailand .....................................................................

3-53

3.63 Chemical Gases Net Trade: Thailand.....................................................................

3-53

3.64 Bulk Solid Chemicals Capacities: Singapore.........................................................

3-54

3.65 Bulk Solid Chemicals Net Trade: Singapore...........................................................

3-55

3.66 Bulk Liquid Chemicals Capacity: Singapore .........................................................

3-56

3.67 Bulk Liquid Chemicals Net Trade: Singapore ........................................................

3-56

3.68 Chemical Gases Capacity: Singapore ..................................................................

3-57

3.69 Chemical Gases Net Trade: Singapore .................................................................

3-57

3.70 Bulk Solid Chemicals Capacities: Indonesia .........................................................

3-58

3.71 Bulk Solid Chemicals Net Trade: Indonesia ...........................................................

3-59

3.72 Bulk Liquid Chemicals Capacity: Indonesia..........................................................

3-60

3.73 Bulk Liquid Chemicals Net Trade: Indonesia .........................................................

3-60

3.74 Chemical Gases Capacity: Indonesia...................................................................

3-61

3.75 Chemical Gases Net Trade: Indonesia ..................................................................

3-61

3.76 Bulk Solid Chemicals: Capacity Malaysia..............................................................

3-62

3.77 Bulk Solid Chemicals: Net Trade Malaysia .............................................................

3-63

3.78 Bulk Liquid Chemicals Capacity: Malaysia ...........................................................

3-63

3.79 Bulk Liquid Chemicals: Net Trade: Malaysia..........................................................

3-64

3.80 Chemical Gases Capacity: Malaysia ....................................................................

3-65

3.81 Chemical Gases Net Trade: Malaysia....................................................................

3-65

3.82 Proposed Joint Ventures Petrochemical Projects ................................................

3-67

3.83 Bulk Solid Chemicals Capacities: China ................................................................

3-69

3.84 Bulk Solid Chemicals Net Trade: China ..................................................................

3-69

3.85 Bulk Liquid Chemicals Capacity: China.................................................................

3-70

3.86 Bulk Liquid Chemicals Net Trade: China ................................................................

3-71

3.87 Chemical Gases Capacity: China..........................................................................

3-72

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3.88 Chemical Gases Net Trade: China .........................................................................

3-72

3.89 Bulk Solid Chemicals Capacities: South Korea .....................................................

3-74

3.90 Bulk Solid Chemicals Net Trade: South Korea .......................................................

3-74

3.91 Liquid Chemicals Capacity: South Korea..............................................................

3-75

3.92 Bulk Liquid Chemicals Net Trade: South Korea .....................................................

3-76

3.93 Chemical Gases Capacity: South Korea...............................................................

3-77

3.94 Chemical Gases Net Trade: South Korea ..............................................................

3-77

3.95 Bulk Solid Chemicals Capacities: Taiwan ..............................................................

3-78

3.96 Bulk Solid Chemicals Net Trade: Taiwan ................................................................

3-79

3.97 Bulk Liquid Chemicals Capacity: Taiwan...............................................................

3-80

3.98 Bulk Liquid Chemicals Net Trade: Taiwan ..............................................................

3-80

3.99 Chemical Gases Capacity: Taiwan........................................................................

3-81

3.100 Chemical Gases Net Trade: Taiwan .....................................................................

3-81

3.101 Bulk Solid Chemicals Capacities: Japan..............................................................

3-83

3.102 Bulk Solid Chemicals Net Trade: Japan................................................................

3-83

3.103 Bulk Liquid Chemicals Capacity: Japan ..............................................................

3-84

3.104 Bulk Liquid Chemicals Net Trade: Japan..............................................................

3-84

3.105 Chemical Gases Capacity: Japan .......................................................................

3-85

3.106 Chemical Gases Net Trade: Japan.......................................................................

3-85

3.107 Bulk Solid Chemicals Capacities: Western Europe .............................................

3-87

3.108 Bulk Solid Chemicals Net Trade: Western Europe ...............................................

3-87

3.109 Bulk Liquid Chemicals Capacity: Western Europe .............................................

3-89

3.110 Bulk Liquid Chemicals Net Trade: Western Europe.............................................

3-90

3.111 Chemical Gases Capacity: Western Europe ......................................................

3-91

3.112 Chemical Gases Net Trade: Western Europe......................................................

3-91

3.113 Trade Grid for LDPE: 2006 ........................................................................................

3-93

3.114 Trade Grid for LDPE: 2012 ........................................................................................

3-93

3.115 Trade Grid for HDPE: 2006 .......................................................................................

3-94

3.116 Trade Grid for HDPE: 2012 .......................................................................................

3-94

3.117 Trade Grid for LLDPE: 2006 ......................................................................................

3-95

3.118 Trade Grid for LLDPE: 2012 ......................................................................................

3-95

3.119 Trade Grid for Polypropylene: 2006 .......................................................................

3-96

3.120 Trade Grid for Polypropylene: 2012 .......................................................................

3-96

3.121 Trade Grid for Ethylene: 2006 .................................................................................

3-97

3.122 Trade Grid for Ethylene: 2012 .................................................................................

3-97

3.123 Trade Grid for Propylene: 2006...............................................................................

3-98

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3.124 Trade Grid for Propylene: 2012...............................................................................

3-98

3.125 Trade Grid for Methanol: 2006 ...............................................................................

3-99

3.126 Trade Grid for Methanol: 2012 ...............................................................................

3-99

3.127 Trade Grid for MEG: 2006 ........................................................................................

3-100

3.128 Trade Grid for MEG: 2012 ........................................................................................

3-100

3.129 Trade Grid for Benzene: 2006 .................................................................................

3-101

3.130 Trade Grid for Benzene: 2012 .................................................................................

3-101

3.131 Trade Grid for Styrene: 2006....................................................................................

3-102

3.132 Trade Grid for Styrene: 2012....................................................................................

3-102

3.133 Trade Grid for PVC: 2006 .........................................................................................

3-103

3.134 Trade Grid for PVC: 2012 .........................................................................................

3-103

3.135 Trade Grid for VCM: 2006........................................................................................

3-104

3.136 Trade Grid for VCM: 2012........................................................................................

3-104

3.137 Trade Grid for EDC: 2006 .........................................................................................

3-105

3.138 Trade Grid for EDC: 2012 .........................................................................................

3-105

3.139 Trade Grid for Para-xylene: 2006............................................................................

3-106

3.140 Trade Grid for Para-xylene: 2012............................................................................

3-106

4.1

Seaborne Trade in Bulk Liquids, 1982-2003 ...........................................................

4-2

4.2

Global Exports of Petrochemicals by Main Commodity, 2002-2012 ...............

4-3

4.3

Forecast Inter-Regional Seaborne Trade in Petrochemicals ............................

4-4

4.4

Transportation Demand for Petrochemicals .......................................................

4-8

4.5

Petrochemical Exports from the Middle East: Transportation Demand by Destination.................................................................................................................

4-11

4.6

Global Seaborne Trade in Liquefied Gases.........................................................

4-13

4.7

Transportation Demand for Petrochemical Gases.............................................

4-16

4.8

Demand Generated by Middle Eastern Bulk Solid Chemical Exports ...........

4-22

4.9

Evolution of Empty Container Movements ..........................................................

4-23

5.1

Chemical Tanker Orderbook and Delivery Schedule........................................

5-9

5.2

Historic and Forecast Chemical Tanker Fleet Development ............................

5-10

5.3

Ownership of the Ocean Chemicals Fleet, 2003 ................................................

5-15

5.4

Structure of the Regional Chemical Fleets ..........................................................

5-16

5.5

Ownership of the Oil/Chemical Tanker Fleet ......................................................

5-16

5.6

Ownership of the Time Charter Fleet ....................................................................

5-17

5.7

Ownership of the Specialist Fleet...........................................................................

5-18

5.8

LPG Tanker Delivery Schedule, by Size of Vessel ..................................................

5-23

5.9

LPG Fleet Development, 2000-2012(1) ...................................................................

5-23

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5.10 Ethylene Fleet – End Period ......................................................................................

5-25

5.11 Ethylene Tanker Orderbook .....................................................................................

5-25

5.12 Ethylene Tanker Fleet Development, 2000-2012(1)..............................................

5-26

5.13 World Containership Fleet by Size Range..............................................................

5-29

5.14 Containership Orderbook by Size and Scheduled Year of Delivery.................

5-31

5.15 Forecast Containership Fleet Development .........................................................

5-32

5.16 Top 30 Global Containership Operators ................................................................

5-34

6.1

Development of Average Freight Rates................................................................

6-4

6.2

Forecast Average Freight Rates : Containers .......................................................

6-6

6.3

Annual Spot Rates for Easy Chemicals, 1991-2003...............................................

6-8

6.4

Historic Chemical Tanker Time Charter Rates .......................................................

6-10

6.5

Forecast Time Charter Rates – Parcel Chemical Tankers ...................................

6-15

6.6

LPG Spot Freight Rates: Small Sizes .........................................................................

6-18

6.7

Ethylene and Propylene Spot Rates .......................................................................

6-18

6.8

Butadiene and VCM Spot Freight Rates ................................................................

6-19

6.9

LPG Tanker Time Charter Freight Rates, Basis 6-12 Month Period......................

6-21

6.10 Forecast Time Charter Rates – LPG Tankers ..........................................................

6-22

7.1

Liquid Berth Capacity Assumptions ........................................................................

7-2

7.2

Importing and Exporting Ports..................................................................................

7-4

7.3

Cranes – Antwerp, Belgium......................................................................................

7-9

7.4

Container Storage – Antwerp, Belgium .................................................................

7-10

7.5

Special Storage – Antwerp, Belgium ......................................................................

7-10

7.6

Tank Storage – Antwerp, Belgium ...........................................................................

7-10

7.7

Cranes – Hong Kong, China.....................................................................................

7-14

7.8

Storage – Hong Kong, China ...................................................................................

7-15

7.9

Storage – Shanghai, China ......................................................................................

7-17

7.10 Cranes – Shanghai, China........................................................................................

7-17

7.11 Cranes – Suez, Egypt .................................................................................................

7-22

7.12 Storage Areas – Suez, Egypt.....................................................................................

7-22

7.13 Cranes – Damietta, Egypt ........................................................................................

7-24

7.14 Storage Areas – Damietta, Egypt............................................................................

7-24

7.15 Storage – Mumbai, India ..........................................................................................

7-28

7.16 Cranes – Mumbai, India............................................................................................

7-29

7.17 Storage – Jawaharlal Nehru, India .........................................................................

7-31

7.18 Cranes – Jawaharlal Nehru, India...........................................................................

7-31

7.19 Storage – Kandla, India.............................................................................................

7-33

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7.20 Cranes – Kandla, India..............................................................................................

7-34

7.21 Cranes – Bandar Imam, Iran ....................................................................................

7-42

7.22 Storage Areas – Bandar Imam, Iran........................................................................

7-42

7.23 Cranes – Yokohama, Japan ....................................................................................

7-46

7.24 Container Storage – Yokohama, Japan................................................................

7-47

7.25 Tank Storage – Yokohama, Japan .........................................................................

7-47

7.26 Cranes – Shuaiba, Kuwait.........................................................................................

7-50

7.27 Storage – Shuaiba, Kuwait .......................................................................................

7-50

7.28 Cranes – Rotterdam, Netherlands ..........................................................................

7-54

7.29 Liquid Storage – Rotterdam, Netherlands .............................................................

7-54

7.30 Independent Liquid Storage – Rotterdam, Netherlands ....................................

7-55

7.31 Covered Storage – Rotterdam, Netherlands .......................................................

7-55

7.32 Cranes – Salalah, Oman...........................................................................................

7-60

7.33 Cranes – Batangas, Philippines................................................................................

7-64

7.34 General Cargo Storage Areas – Mesaieed, Qatar..............................................

7-66

7.35 Cranes – KFIP, Yanbu, Saudi Arabia .......................................................................

7-72

7.36 Storage Areas – KFIP, Yanbu, Saudi Arabia...........................................................

7-72

7.37 Cranes – Yanbu Commercial Port, Saudi Arabia.................................................

7-75

7.38 Storage – Yanbu Commercial Port, Saudi Arabia................................................

7-75

7.39 Cranes (North) – Jeddah Islamic Port, Saudi Arabia ...........................................

7-79

7.40 Storage Areas (North) – Jeddah Islamic Port, Saudi Arabia ..............................

7-79

7.41 Cranes (South) – Jeddah Islamic Port, Saudi Arabia...........................................

7-80

7.42 Storage Area (South) – Jeddah Islamic Port, Saudi Arabia................................

7-80

7.43 Cranes – KAP, Dammam, Saudi Arabia.................................................................

7-83

7.44 Storage Areas – KAP, Dammam, Saudi Arabia ....................................................

7-83

7.45 Storage Areas – Jubail Commercial Port, Saudi Arabia .....................................

7-86

7.46 Cranes – Jubail Commercial Port, Saudi Arabia ..................................................

7-86

7.47 Cranes - Singapore ....................................................................................................

7-89

7.48 Storage – Singapore ..................................................................................................

7-90

7.49 Storage – Pusan, South Korea.................................................................................

7-94

7.50 Cranes – Inchon, South Korea ................................................................................

7-96

7.51 Cranes – Ruwais, UAE ................................................................................................

7-101

7.52 Container Storage Areas – Jebel Ali, UAE .............................................................

7-104

7.53 Cranes – Jebel Ali, UAE .............................................................................................

7-104

7.54 General Cargo Storage Areas – Jebel Ali, UAE ....................................................

7-104

7.55 Container Storage Areas – Port Rashid, UAE.........................................................

7-105

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