The chemical tankers market is anticipated to face a challenging couple of years ahead due to lingering oversupply made worse by many newbuilding deliveries, according to shipping analyst Drewry.

Chemical tanker freight rates on long haul routes, in particular, will continue to be challenged by surplus large vessels over the next two years. Although the trade volume from the US to Europe and Northeast Asia rose in 2016, the appearance of speculative vessels brought rates down.

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