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TANKERS: Parcel tankers on the up

It is widely thought within the industry that chemical carriers and specialised tanker operators are now obtaining better freight rates. Norwegian chemical carrier and terminal operator Odfjell reported that rates started to turn for the better during the final quarter 2010 and, while they are still low, rises would continue into 2011. The company felt the situation would be easier this year as natural scrapping removes tonnage and the current global order book is delivered. Odfjell scrapped some vessels from its fleet in 2010 and now operate about 86 owned and chartered chemical tankers, with another 18 on order. The company posted an operating loss of $58 million for 2010, but put this down to supply exceeding demand and feel the industry will become more balanced by 2012.

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