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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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
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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
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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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