#US Chemical Tanker Market

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Global Chemical Tanker Market Size Expected To Reach USD 49700 Million With CAGR 4.70% By 2030

The Global Chemical Tanker Market size was valued at USD 34400 Million in 2023 and is projected to reach USD 49700 Million by 2030, growing at a CAGR of 4.70% from 2023 to 2030.

The Chemical Tanker Market is an integral component of the global shipping industry, primarily focused on the transportation of chemicals, petrochemicals, and various hazardous substances. This market plays a critical role in ensuring the safe and efficient movement of chemicals across the globe. The demand for chemical tankers is closely tied to the chemical manufacturing, petroleum, and industrial sectors. These vessels are specially designed to meet the stringent safety and environmental regulations that govern the transport of hazardous cargo. The market's growth is influenced by several key factors, including market drivers and opportunities.

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Updated Version 2024 is available our Sample Report May Includes the:

Scope For 2024

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)

Top players in the market

Research framework (structure of the report)

Research methodology adopted by Worldwide Market Reports

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Leading players involved in the Chemical Tanker Market include:

"Stolt-Nielsen Limited (UK), Odfjell SE (Norway), Navig8 Chemical Tankers Inc (US), MOL Chemical Tankers (Japan), Iino Kaiun Kaisha Ltd (Japan), Team Tankers International Ltd (Bermuda), Ardmore Shipping Corporation (Ireland), Nordic Tankers A/S (Denmark), Jo Tankers AS (Norway), Odfjell Tankers AS (Norway), Stena Bulk AB (Sweden), MTMM Group (Singapore), Essberger Tankers (Germany), Bahri Chemicals (Saudi Arabia), Coastal Tankers Pte Ltd (Singapore), MISC Berhad (Malaysia), NCC Group (Japan), Ikarus Petroleum Industries Ltd (Greece), Uni-Tankers A/S (Denmark), Euronav Tankers NV (Belgium) and Other Major Players" 

If You Have Any Query Chemical Tanker Market Report, Visit:

Segmentation of Chemical Tanker Market:

By Material

Stainless Steel

Coated

By Size

Inland Chemical Tankers

Coastal Chemical Tankers

Deep-Sea Chemical Tankers

By Product Type

Organic Chemicals

Inorganic Chemicals

Vegetable Oils Fats

Others

By Tank Type

IMO 1

IMO 2

IMO3

Market Segment by Regions: -

North America (US, Canada, Mexico)

Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

South America (Brazil, Argentina, Rest of SA)

Effective Points Covered in Chemical Tanker Market Report: -

Details Competitor analysis with accurate, up-to-date demand-side dynamics information.

Standard performance against major competitors.

Identify the growth segment of your investment.

Understanding most recent innovative development and supply chain pattern.

Establish regional / national strategy based on statistics.

Develop strategies based on future development possibilities. 

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[coherentmarketinsights]

Advancements in Marine Coatings: Sustainable Solutions and Market Impact

Marine Coatings - Protecting Ships from Harsh Marine Environment Introduction Marine coatings refer to protective paint coatings specially formulated to protect ships, boats, offshore oil rigs and other marine structures from corrosion and fouling in harsh marine environment. Marine structures face unique environmental challenges like saltwater exposure, wave action, shell fouling and extreme temperatures which regular paints cannot withstand. This is where specialized marine paints play a vital role in protecting the structural integrity and extending the lifespan of marine assets. Types of Marine Paints There are different types of marine paints used depending on the type of marine structure and environmental conditions: Anti-Corrosion Coatings As the name suggests, anti-corrosion coatings form a protective barrier to prevent corrosion of steel and other metal parts of ships and offshore structures that are constantly exposed to sea water. The most common anti-corrosion coatings used are epoxy, polyurethane and zinc-rich coatings. Epoxy marine paints provide excellent adhesion, chemical and abrasion resistance. Polyurethane coatings have added elasticity making them suitable for areas with thermal expansion. Zinc-rich coatings have zinc particles as prime pigment that sacrificially corrode to protect the substrate. Fouling Release Coatings Fouling release coatings have very low surface energy which prevents shell fouling like algae, tube worms or barnacles from permanently settling on the ship's hull. Instead, any organisms attaching are easily released when the ship is moving thereby improving hydrodynamics. Silicone based fouling release coatings are very popular for this application. Anti-Fouling Coatings Unlike fouling release coatings, anti-fouling coatings actively prevent shell fouling from attaching to ship's hull by means of biocides embedded in the coating. Common biocides used are copper, co-polymer and zinc pyrithione. However, there are environmental concerns over use of such biocide coatings and regulatory restrictions are in place in many countries. Tank Coatings Specialized tank coatings are used to line cargo tanks in oil tankers and bulk carriers that carry chemicals and petroleum products. Epoxy and Polyurethane coatings are used for their excellent chemical resistance. Some modern tank coatings have advanced molecular self-healing properties that help maintain barrier protection for longer periods. Other Specialized Applications In addition to above, industry uses specialized high durability epoxy, polyurethane and inorganic zinc silicate coatings for decks, boot-top areas and underwater ship hulls. Intumescent fire resistant coatings provide protection against flames. Non-skid deck coatings provide added safety on-board. Sacrificial anodes and impressed current cathodic protection systems also complement coating systems.

[indianpetrochem2]

Aniline prices in india

Aniline prices at Kandla have risen, indicating an uptick in the chemical market. in Kandla, the prices of aniline for imported tanker load supplies increased from Rs 162/kg to Rs 164/kg. This upward movement reflects changing dynamics within the chemical market.One key factor influencing the price increase is the rise in the cost of raw materials used in aniline production, such as benzene and ammonia. Fluctuations in the prices of these essential inputs directly impact production costs, leading to adjustments in market prices, indian prices Aniline, indianpetrochem

[robertemma27-blog]

Terminal Management System Market Size Trends Forecast Research

The terminal management system market was valued at USD 725.5 Million in 2016 and is expected to reach USD 1097.7 Million by 2023, at a CAGR of 5.94% between 2017 and 2023.

Major players operating in the terminal management system market include ABB Ltd. (Switzerland), Honeywell International, Inc. (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Rockwell Automation, Inc. (US), Schneider Electric (France), Emerson Electric Corporation (US), Endress + Hauser AG (Switzerland), General Atomics Corp. (California) and Implico GmbH (Germany).

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The implementation of terminal management solution in brownfield terminals reduces operational costs, and the integrated safety and security solutions enhance the level of automation at a terminal.

Brownfield terminals expected to grow at a high rate during the forecast period

Traditional terminal infrastructure such as pipeline connections, tanker berths, and other components is already present, and therefore the automation of such existing terminals by integrating software will help increase the number of brownfield projects.

The key reason attributed to the growth of services in the terminal management system market is the growing awareness for installing automation solutions and the need for providing services, such as training and maintenance, to improve the operational efficiency of terminals and make them more efficient.

For instance, in July 2013, ABB Ltd. (Switzerland) received a contract from Amec Foster Wheeler plc (UK) to automate the bulk inventory operations management of the chemicals complex in Saudi Arabia. As per the contract, ABB Ltd. deployed its T-MAC Plus system to optimize operations, as well as increase energy efficiency, safety, and control with a scalable solution.

Terminal management system market in APAC likely to grow at a high CAGR during the forecast period

Key factors contributing to the growth of terminal management system market in APAC is the increase in the number of terminal automation projects in countries such as India, Malaysia, and the Philippines. For instance, in June 2015, Yokogawa Electric Corporation (Japan) received a contract worth approximately USD 11 million from Bharat Petroleum Corporation Limited (India) to automate its truck-loading terminals. According to the contract, Yokogawa Electric Corporation provided its terminal logistics suite, a terminal automation system (TAS), to truck loading terminals of Bharat Petroleum Corporation Limited in India.

[businessindustry]

Ballast Water Treatment Systems Market Report, By Type, News 2024-2032 | Reports and Insights

The Reports and Insights, a leading market research company, has recently releases report titled “Ballast Water Treatment Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Ballast Water Treatment Systems Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Ballast Water Treatment Systems Market?

The ballast water treatment systems market size reached US$ 6.2 Billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 12.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.7% during 2024-2032.

What are Ballast Water Treatment Systems?

Ballast Water Treatment Systems are utilized on ships to manage ballast water, which is taken on board to stabilize the vessel's balance. This water frequently contains diverse organisms that can be detrimental to marine ecosystems if discharged in a different location. The systems are designed to eliminate or neutralize these organisms, including bacteria, viruses, and invasive species, before the water is discharged back into the sea. This process aids in preventing the spread of harmful species and diseases, thereby reducing environmental and economic risks.

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What are the growth prospects and trends in the Ballast Water Treatment Systems industry?

The ballast water treatment systems market growth is driven by various factors. The market for ballast water treatment systems is growing significantly, primarily due to strict regulations aimed at preventing the spread of invasive species through ballast water discharge. These systems are crucial for ensuring ships comply with international standards, leading to increased demand for ballast water treatment solutions. Market expansion is also driven by the rise in maritime trade activities and a heightened awareness of environmental conservation. Additionally, advancements in technology, such as the emergence of more efficient and cost-effective treatment systems, are further propelling market growth. Hence, all these factors contribute to ballast water treatment systems market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Chemical Treatment Systems

Physical Disinfection Systems

Mechanical Systems

By Technology:

Ultraviolet (UV) Treatment

Electro-Chlorination

Advanced Oxidation

Filtration

By Capacity:

Less than 1500 m3/h

1500 m3/h - 5000 m3/h

More than 5000 m3/h

By Vessel Type:

Container Ships

Bulk Carriers

Tankers

Ro-Ro Ships

Others

By Application:

Retrofit

New-build

By End-Use:

Shipping Companies

Offshore Rigs

Military Vessel

Segmentation By Region:

North America:

United States

Canada

Asia Pacific:

China

India

Japan

Australia & New Zealand

Association of Southeast Asian Nations (ASEAN)

Rest of Asia Pacific

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX (Belgium, the Netherlands, Luxembourg)

NORDIC (Norway, Sweden, Finland, Denmark)

Rest of Europe

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

The Middle East & Africa:

Saudi Arabia

United Arab Emirates

South Africa

Egypt

Israel

Rest of MEA (Middle East & Africa)

Who are the key players operating in the industry?

The report covers the major market players including:

Alfa Laval

Wärtsilä

Evoqua Water Technologies

BIO-UV Group

Trojan Marinex

Optimarin

Panasia

Hyde Marine

De Nora Water Technologies

Xylem Inc.

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[chemicalsectorupdates]

Impact of COVID-19 on the Polyurethane Prepolymer Market: Strategies for Resilience

Polyurethane Prepolymers: An Essential Raw Material for Manufacturing Industries What are Polyurethane Prepolymers? Polyurethane prepolymers, also known as isocyanate terminated prepolymers, are polyols that have been reacted with diisocyanates but terminated with residual isocyanate groups. They are highly viscous resins synthesized by reacting a polyol such as polyether polyol or polyester polyol with a diisocyanate like MDI or TDI in a 1:1 or 1:2 stoichiometric ratio resulting in an isocyanate functional prepolymer. Applications of Polyurethane Prepolymers Polyurethane prepolymers find wide applications due to their versatile chemical and physical properties. Some key applications include: Coatings - Prepolymers are used as binders, crosslinkers and intermediates in manufacturing coatings for wood, concrete, leather and various industrial applications. Their excellent adhesion, chemical resistance and flexibility makes them ideal for coatings. Adhesives and Sealants - The film forming and adhesive properties of prepolymers are leveraged to produce structural and high-performance adhesives as well as sealants for construction and automotive applications. Elastomers - Prepolymers impart flexibility, elasticity and high strength to elastomers used in hoses, gaskets, rollers and various flexible molded articles. They aid in processability and enhance mechanical properties. Footwear - The mechanical strength and flexibility imparted by prepolymers in polyurethane enables their use in manufacturing shoe soles, heels and sport shoe midsoles providing comfort and durability. Types of Polyurethane Prepolymers Based on the polyol/diisocyanate ratio and reactants used, prepolymers can be categorized as: - MDI based: Formed from reaction of MDI with polyester polyols or polyether polyols. Offer high strength, hardness and chemical resistance. Widely used. - TDI based: React TDI with polyols. Provide flexibility and high elongation. Used in elastomers, sealants and adhesives. - Polyester based: Have good hydrolytic stability and strength. Used in coatings. Manufacturing Process of Polyurethane Prepolymers The manufacturing process involves the following key steps: 1. Reaction of Polyol and Diisocyanate: Polyether polyol or polyester polyol is charged into the reactor and heated to the required temperature. Diisocyanate like MDI or TDI is added slowly with agitation. 2. Controlled Polyaddition Reaction: The exothermic polyaddition reaction between hydroxyl groups of polyol and isocyanate groups proceeds. Process parameters like temperature, catalysts are controlled. 3. Termination Reaction: Once the pre-set NCO index is reached, the prepolymer is terminated by residual isocyanate groups and deactivated by adding catalyst kill. 4. Filtration and Packaging: The viscous prepolymer solution is filtered to remove impurities and filled in drums, IBCs or bulk tankers. Applications determine the suitable type of prepolymer and optimization of process parameters like reaction temperature, reaction time and NCO index yields prepolymers with desired physical and chemical qualities. Strict quality control during manufacturing is vital. Outlook for Polyurethane Prepolymers Market The global polyurethane prepolymers market is forecast to grow at over 5% CAGR through 2030 driven by increasing usage in coatings, adhesives, sealants, thermoplastic polyurethanes and various consumer and industrial applications. Rapid growth of key end use industries like footwear, construction, automotive, packaging and furniture will boost demand. Moreover, continuous product innovation to develop new grades catering to changing industry and regulatory trends along with expansion into emerging markets in Asia Pacific and Middle East regions are factors expected to fuel the prepolymer market in the coming years. However, volatility in raw material prices remain a key challenge. Overall, polyurethane prepolymers market outlook looks positive owing to their excellent performance attributes and versatile usage profile.

[vishwastainlesspvtltd]

Applications And Uses Of Stainless Steel In Oil And Gas Industry

Introduction 

From food to automotive, stainless steel has been transforming nearly every industry. The oil and gas industry has been no different.  

The oil and gas industry is an evolving industry with modern requirements. And to meet these needs, stainless steel continues to optimize industrial operations by ensuring long-lasting and reliable performance. 

Stainless steel can withstand corrosion which is a very important consideration in the oil and gas industry; hence, it’s very evident that stainless steel is a critical component for safe operation in oil and gas processing systems.

In this blog, we’ll look at why stainless steel plays an important role in petroleum refining and some of the established advantages and applications of stainless steel in the oil and gas industry. 

Oil & Gas Industry 

 The oil and gas industries are a significant contributor to the thriving economy. The final products of this industry are mainly fuel, oil, and petroleum.

The industry has three major processes: Upstream, Midstream, and Downstream.

1. Upstream – 

The Upstream market entails exploration and development. This procedure involves the search for underground natural gas and crude oil wells as well as the drilling of exploratory wells. 

2. Midstream – 

The Midstream market concerns the transportation, storage, and processing of oil and gas. The transportation process is accomplished by the use of pipelines, oil tankers, and even fleets of trucks. 

3.Downstream – 

The Downstream market covers the filtering of the raw material attained during the Upstream phase. The process includes the refining, filtering of crude oil, and purification of natural gas.

Major Challenges Faced By Oil & Gas Industry

The oil and gas industry is a major power-generating source at present. Though, there are some challenges associated with this source of energy generation. 

It functions in challenging environments at different temperatures in chemical processing. In order to achieve efficiency in the operation, it requires good quality grades of metal that can resist corrosion in extreme temperatures.

To Read Full Blog : Stainless Steel In Oil And Gas Industry

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Cryogenic Tanks Market Saga: Unraveling the Intricacies of Liquid Oxygen Preservation

Cryogenic tanks are vacuum insulated vessels used for storing cryogenic liquids such as liquid nitrogen, liquid oxygen, liquid argon, liquid carbon dioxide and liquid hydrogen at very low temperatures. They are primarily used in several industrial applications such as metal manufacturing, energy & power, electronics, medical technology, food & beverage and shipping. Cryogenic tanks play a vital role in ensuring safe and efficient transportation along with storage of industrial gases. The global Cryogenic Tanks Market is estimated to be valued at US$ 6.51 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The growing demand for industrial gases from various end-use industries such as healthcare, energy & power, food & beverage and metal manufacturing is expected to drive the growth of cryogenic tanks market over the forecast period. Industrial gases like oxygen, nitrogen and argon find wide applications in the manufacturing processes of these industries. Moreover, the demand for liquified natural gas is also growing significantly owing to rising focus on cleaner sources of fuel. This is expected to increase the need for cryogenic storage and transportation solutions like cryogenic tanks and tankers. The ability of cryogenic tanks to efficiently store industrial gases at very low temperatures makes them ideal for the safe handling and transportation of gases over long distances. Thus, the increasing demand for industrial gases from different industries presents lucrative market opportunities for cryogenic tanks during the forecast period.

Porter's Analysis Threat of new entrants: Moderate, high capital requirements for manufacturing cryogenic tanks act as a barrier. However, growing demand opens opportunities. Bargaining power of buyers: Moderate to high. Large buyers can negotiate on price and demand better service levels. However, specialized nature of tanks reduces impact. Bargaining power of suppliers: Moderate. Major suppliers have established relationships but availability of raw material alternatives provides options. Threat of new substitutes: Low. Cryogenic tanks have few substitutes for storage of liquefied gases in large volumes. Competitive rivalry: High. Global players compete on technology, quality, pricing and services. Regional players add competition.

SWOT Analysis Strengths: Growing liquefied gas market. Established infrastructure and technology leadership of major players. Weaknesses: High capital investment requirements. Volatility in raw material prices impacts costs. Opportunities: Rising adoption in new applications like LNG as fuel. Expanding gases market in developing regions. Threats: Stringent regulations over safety and emissions. Substitution threat from alternative gas storage technologies.

Key Takeaways

The global Cryogenic Tanks Market is expected to witness high growth over the forecast period between 2023 to 2030.Technological advancements for more efficient operations and rising demand for liquefied gases like LNG are driving the market.

Regionally, North America leads currently due to large liquefaction plants and increasing exports of natural gas. Asia Pacific is expected to be the fastest growing market due to massive demand from industries and increasing LNG imports in major economies like China and India. Countries like China, Japan and South Korea are focusing on expanding LNG receiving and regasification terminals which will further accelerate cryogenic tanks demand.

Key players operating in the Cryogenic Tanks market are ArcelorMittal, China Baowu Group, Nippon Steel Corporation, POSCO, Shagang Group, Ansteel Group, Glencore, Sumitomo Metal Mining Company, Linde, INOX India Pvt., Cryofab, FIBA Technologies, Air Products and Chemicals, Inc., M1 Engineering, Chart Industries, Wessington Cryogenics, Isisan, Lapesa, Auguste Cryogenics, and Hoover Ferguson Group, Inc. These companies are focusing on partnerships, new product developments and expansion in high growth regions to strengthen their positions.

[olko71]

New Post has been published on All about business online

New Post has been published on https://yaroreviews.info/2023/12/bp-pauses-all-red-sea-shipments-after-rebel-attacks

BP pauses all Red Sea shipments after rebel attacks

Getty Images

By Lora Jones

Business reporter, BBC News

Oil giant BP has announced it is pausing all shipments of oil through the Red Sea after recent attacks on vessels by Houthi rebels.

The firm blamed the “deteriorating security situation” in the region as Iran-backed Houthis target ships they believe are bound for Israel.

Many freight firms have suspended journeys as the attacks continue.

BP said it would keep its “precautionary pause under ongoing review” and monitor the region.

Analysts suggested that if other large oil firms follow suit, oil prices could rise. Brent crude, the international benchmark foroil prices, increased to $78.44 per barrel.

“Right now it’s unclear how significant the impact will be,” said Gregory Brew, an oil historian and analyst at Eurasia Group.

“Though if more shipping companies divert their traffic, and if the disruption lasts more than a week or two, prices are likely to climb further.”

The Red Sea is one of the world’s most important routes for oil and liquefied natural gas shipments, as well as for consumer goods.

How to keep merchant vessels safe from attack

Gazans trapped in church ‘fear being shot’

Chaotic scenes as people run after lorries carrying aid in Gaza

Analysis by S&P Global Market Intelligence found that nearly 15% of goods imported into Europe, the Middle East and North Africa were shipped from Asia and the Gulf by sea. That includes 21.5% of refined oil and more than 13% of crude oil.

“Consumer goods will face the largest impact, though current disruptions are occurring during the off-peak shipping season,” said Chris Rogers from S&P Global Market Intelligence.

On Monday, one of the world’s largest shipping firms said it would no longer carry Israeli cargo via the Red Sea.

In an update seen by the BBC, Evergreen Line, said: “For the safety of ships and crew, Evergreen Line has decided to temporarily stop accepting Israeli cargo with immediate effect, and has instructed its container ships to suspend navigation through the Red Sea until further notice.”

The Houthi rebels are targeting ships travelling through the Bab al-Mandab Strait – also known as the Gate of Tears – which is a channel 20 miles (32km) wide, and known for being perilous to navigate.

The rebels have declared their support for Hamas and have said they are targeting ships travelling to Israel, using drones and rockets against foreign-owned vessels.

Instead of using the Bab al-Mandab Strait, ships will now have to take a longer route navigating around southern Africa, potentially adding about 10 days to the journey and costing millions of dollars.

Israel launched a military campaign in Gaza following the 7 October attacks by Hamas that killed 1,200 people. The Hamas-run health ministry in Gaza said more than 18,700 have been killed since the start of the war.

It is not clear if all the ships Houthi rebels have attacked were actually heading to Israel.

In the most recent reported assault, the owner of the MT Swan Atlantic said the ship was hit by an “unidentified object” on Monday while in the Red Sea off Yemen despite there being no links to Israel.

Inventor Chemical Tankers said: “For the record, there is no Israeli link in the ownership (Norwegian), technical management (Singapore) of the vessel nor in any parts of the logistical chain for the cargo transported.”

Attacks on ships have intensified in recent days, leading to shipping firms suspending travel through the strait which sits between Yemen on the Arabian Peninsula and Djibouti and Eritrea on the African coast.

It is the route by which ships can reach the Suez Canal from the south – itself a major shipping lane.

Maersk, the world’s second-biggest shipping firm, described the situation as “alarming” on Friday after a “near-miss” incident involving Maersk Gibraltar and another attack on a container ship.

It was followed by Mediterranean Shipping Company (MSC), the world’s largest shipping group, which said it would also divert its ships from the area.

Its container ship, MSC PALATIUM III, was attacked on Friday as it was transiting the Red Sea. There were no injuries to the crew, but the ship has been taken out of service.

CMA-CGM has also stopped shipments through the region, and Reuters has reported that Belgian oil tanker firm Euronav and Norway-based tanker group Frontline would both avoid Red Sea routes.

On Monday, Inventor Chemical Tankers confirmed that the MT Swan Atlantic was targeted while travelling from France to Réunion Island in the Indian Ocean.

The company said there were no injuries to its Indian crew, adding that the “crew and the ship are now assisted by the US navy and will be brought to safety under protection by naval forces”.

Germany’s Hapag-Lloyd said it was re-routing several ships via the Cape of Good Hope, until passage through the Red Sea “will be safe again for vessels and their crews”.

Evergreen Line said that any container ships on longer journeys between Asia and the Mediterranean, Europe or the east coast of the US would also be diverted around the Cape of Good Hope.

Peter Sand, chief analyst at freight rate data company Xeneta, said shipping firms would now be contacting customers to let them know that cargo was being delayed, adding that there was “definitely a price to pay for a situation like this”.

He said the industry would also face knock-on effects such as higher insurance premiums, but he said that it was in a much better position to deal with an unfolding crisis than it was when the huge Ever Given ship blocked the Suez Canal in 2021, with Covid-related supply chain issues having eased up.

Sue Terpilowski of the Chartered Institute of Logistics and Transport also pointed out that in addition to extra fuel costs and time, the war-risk insurance costs are going up “exponentially”, with customers facing higher prices being passed on to them too.

Additional reporting by Vivienne Nunis.

Related Topics

Companies

Israel-Gaza war

Yemen

Shipping containers

Houthis

Shipping industry

BP

More on this story

More big shipping firms stop Red Sea routes after attacks

2 days ago

Shipping firms pause Red Sea journeys over attacks

2 days ago

[seojobnet-blog]

NYK Group, Stolt Tankers, and ENEOS Ocean Launch Chemical Ship Pool Business | Rig Jobs

The NYK Group, Stolt Tankers B.V., and ENEOS Ocean Corporation launched a chemical ship pool business in the Asia-Pacific region (the “Project”*) in October.

The project started with 13 vessels comprising two chemical tankers owned by ENEOS Ocean and 11 chemical tankers owned by a joint venture between the NYK Group and Stolt Tankers. The vessels are equipped with stainless steel tanks capable of transporting various chemical products, thus allowing the companies to respond flexibly to shippers’ transportation needs. Through this business with Stolt Tankers and ENEOS Ocean in the chemical market, where demand is strong, the NYK Group aims to provide high-quality transport services through a competitive fleet.

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[powermarket]

Cryogenic Equipment Market Is Booming Worldwide

The global cryogenic equipment market size stood at USD 17.24 billion in 2021. The market is estimated to rise from USD 18.06 billion in 2021 to USD 32.86 billion by 2028 at 8.9% CAGR during the forecast period. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Cryogenic equipment Market, 2021-2028.”

According to the analysis increasing investments in LNG power plants and rising focus on processing and manufacturing industries to foster market development. The rising demand for clean energy power is anticipated to boost the market in the near future. The transportation, storage, and regasification applications for generating clean energy hold substantial potential for the growth of the market.

List of Key Companies Profiled in the Market Report: 

Chart Industries, Inc. (U.S.)

Cryofab, Inc. (U.S.)

Linde (Germany)

Nikkisso Cryoquip (U.S.)

Nikkiso Co. Ltd (Japan)

SHI Cryogenics Group (Japan)

HEROSE GMBH (Germany)

Wessington Cryogenics (U.K.)

Cryo Pur (France)

INOXCVA (INOX India Pvt Ltd) (India)

Sulzer (Switzerland)

Schlumberger (U.S.)

Flowserve Corporation (U.S.)

Fives (France)

Phpk Technologies (U.S.)

Marshall Excelsior Company (U.S.)

ACME Cryogenics (U.S.)

RegO (U.S.)

Habonim Industrial Valves & Actuators LTD (U.S.)

Impact of COVID-19:

Restrictions on Manufacturing and Transport to Hinder Market Progress

This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions imposed on manufacturing and transport activities. The sudden spike in COVID-19 infections led to the adoption of stringent norms. This has led to the closure of industries and the lack of raw materials for cryogenic equipment production. However, the adoption of production machinery, advanced sanitization methods, reduced capacities, and half capacities have enabled manufacturers to recover their losses. This factor is expected to boost market growth during the pandemic.

Report Coverage:

The report has been prepared meticulously through quantitative and qualitative assessments to offer a comprehensive market view. Notably, many primary interviews have been conducted with major stakeholders and suppliers. Primary data has been collected through questionnaires, telephonic conversations and emails. Moreover, the report also includes secondary sources, such as government websites, SEC filings and press releases. The report also gives an in-depth view of market size, share, revenue, volume and delves into SWOT analysis.

Drivers and Restraints:

Rising Demand for Clean Energy Source to Bolster Market Expansion

The rising demand for regasification, storage, and transportation of clean energy is expected to boost cryogenic equipment’s demand. The rising demand for LNG fuels for automotive use is expected to increase the equipment’s sales. Further, significant investments in the petrochemical and chemical sectors are likely to boost market growth. Rising usage of refrigerators, pumps, vaporizers, valves, and oil tankers is likely to increase the demand for the equipment. The equipment increases the safety of the fuel and maintains safety.

The rising demand for fuel storage and the rising adoption of renewable energy resources is likely to increase the equipment’s adoption. Moreover, it is also used in the healthcare sector to store blood, package medicines, and purge equipment. These factors are likely to drive the cryogenic equipment market growth.

However, the fluctuating stainless steel prices and stringent green-house emission norms may hinder the market progress.

Competitive Landscape:

Major Players Set Up Facilities to Expand Market Reach Globally

Prominent companies operating in the company set up manufacturing facilities to expand their market reach worldwide. For example, Lide declared that it had set up a novel on-site manufacturing plant in Qinzhou, China, in July 2021. The company shall supply industrial gases and oxygen to Shanghai Huayi's new chemical complex by opening up the plant. The manufacturing plant comprises three air separation units designed to supply 5,000 tons of nitrogen and 7,500 tons per day of oxygen. This strategy may enable the company to expand its market reach. In addition, the adoption of research and development may enable companies to improve their product quality and boost their brand image.

Segmentation:

By product, the market is segmented into bayonet connection, actuator, vaporizer, pump, valve, tank, and others. As per cryogen, it is categorized into helium, hydrogen, liquefied natural gas (LNG), argon, oxygen, nitrogen, and others.

Based on end-user, it is classified into marine, chemical & petrochemical, power generation, metallurgy, oil & gas, and others.

Regionally, it is grouped into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

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Marine Diesel Innovations: Propelling the Industry Forward

Marine diesels are composed of blends of gasoil and heavy fuel oil and heavily utilized on maritime fields. Marine diesel oils are also termed as distillate marine diesels. Moreover, these are extensively deployed in medium speed and high-speed marine diesel engines. It is also used in the larger, slow speed, and medium speed propulsion engine, which normally burn residual fuel. Those fuels are obtained from catalytic cracking process. Moreover, according to International Maritime Organisation (IMO) and the International Convention for the Prevention of Pollution from Ships (MARPOL) certain regulations limit the emissions of excess sulfur into the air. These regulations have also led countries and organizations establish regulations and laws on MDO use. In addition, due to its lower price compared to more refined fuel, MDO is favored particularly by the shipping industry.

The global marine diesel market has foreseen some huge sack opportunities over the past few years. Moreover, the International Maritime Organizations regulate the usage of sulfur cap of 0.50% m/m (mass/mass) in 2020 for marine fuels, and increase in ocean-borne trade, especially in ton-km travelled. These factors boost the growth of the market. However, obsolete vessels are replaced by more competent boats, which in turn is expected to drive the market. In addition, the developing marine logistics business, cost efficient LNG products, coupled with imposition of environmental regulations on chemical emissions are other factors that fuel the market. These effective improvements are anticipated to balance the increments in trade to some extent. However, the current decline in the oil prices and the subsequent slowdown in the oil and gas industry is expected to restrict the market.

The report segments the market on the basis of end-user, distribution channel, application, and geography. Based on end user, the market is divided as container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing, and gas tanker. Based on distribution channel, the market is classified as oil majors, large independent, small independent. By application, the market is categorized into fuel consumption, efficiency level, fleet management, and viscosity control. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

This report provides a quantitative analysis of the current trends and estimations of the global marine diesel market to identify the prevailing market opportunities.

Major countries in each region are mapped according to individual market revenue.

Comprehensive analysis of factors that drive and restrict the market growth is provided.

An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.

Key players and their key developments in the recent years are listed.

Key Market Players:  Indian Oil Corporation, Bomin Bunker Oil Corp, Royal Dutch Shell PLC, BP PLC, Exxon Mobil, Gazprom Neft PJSC, KPI Bridge Oil A/S, Chemoil Energy Ltd, Harvey Gulf International Marine LLC., Aegean Marine Petroleum Network Inc.

[lizseyi]

Peninsula Successfully Launches Biofuel Supply Business - Peninsula360

Peninsula, the leading independent supplier of marine energy, has completed its first sustainable biofuel delivery to DS NORDEN. The successful STS supply took place on Monday 19th June in Gibraltar.

Peninsula’s BIO blend (VLSFO B24) was derived from Used Cooking Oil (UCO) and delivered by the chemical tanker, Hercules Sky, one of the latest vessels to join the Peninsula fleet. The receiving vessel was NORDEN’s 62,594 dwt bulk carrier, La Luna. The growing demand for biofuels in the Mediterranean reinforces the company’s decision to add the product to its range of marine energy solutions.

Peninsula’s biofuels are drop in, low-carbon, options that require little to no retrofitting or change to receiving vessels. The International Sustainability & Carbon Certification (ISCC) accreditation facilitates the supply of biofuels from feedstocks that have fully traceable, sustainable and GHG reducing supply chains. This enables Peninsula to directly support customers seeking help to lower their carbon emissions.

Peninsula360 is constantly progressing its decarbonisation strategy according to customer needs. Based on detailed customer interaction, we are confident that biofuels will form a meaningful emissions reduction solution. Sustainable biofuel therefore forms a core part of Peninsula’s product strategy.

John Bassadone, Peninsula’s CEO said: “Biofuel adds another lower carbon option to Peninsula’s diversified product offering and marks a further significant step towards our collective transition to a zero carbon future.

“As one of the world’s leading shipping companies, the trust that Norden has shown in Peninsula is validation of the thorough and careful planning we have done to bring biofuels to market. Norden has a strong sustainability focus and we are delighted to be a key part of their decarbonisation journey, today and in the future, whilst continuing our own path to net zero.”

Nacho de Miguel, Peninsula’s Head of Sustainability added “Peninsula will focus its Biofuels supply in key ports where sufficient critical mass exists. The Mediterranean is a key region for global shipping, and the Gibraltar Strait enjoys an excellent strategic vantage point to capture the inevitable, imminent increase in Biofuel demand. We are certain that Peninsula will play an important role in providing Biofuel solutions to our global customer base as, together, we make progress towards decarbonising shipping.”

“At NORDEN, our climate strategy is to decarbonise our customers’ supply chain” says Head of Decarbonisation & Climate Solutions, Henrik Røjel.

“It’s therefore essential for us to have a growing base of suppliers, which provide sustainable biofuel to our vessels. We’re glad to have cooperated with Peninsula on their first sustainable biofuel delivery to NORDEN and look forward to the continued collaboration” he added.

[indianpetrochem2]

Butyl Cellosolve Prices in India

In a noteworthy development, the price of Butyl Cellosolve in Kandla, imported by tanker load, has experienced a noticeable uptick. The surge, observed in shipments imported by tanker load underscores the dynamic nature of the chemical market. The cost has ascended from Rs 137/kg to Rs 140, indicating a rise that has captured market attention. On the flip side, the low price news echoes a period of downturn for Butyl Cellosolve in Kandla. The chemical's cost has faced a slump, bringing about fluctuations that warrant monitoring within the industry.Despite the pricing fluctuations, Butyl Cellosolve maintains a steady demand. Its versatile properties find application in various industries, fueling the persistent interest and demand for this solvent.Butyl Cellosolve's uses span across diverse sectors, including paints, coatings, and industrial cleaning solutions. Its role as a solvent and coupling agent renders it indispensable in numerous manufacturing processes.

[sagarg889]

Level Switches Market Growth, Challenges & Opportunities for Future Development 2022 to 2032

The level switch or sensor monitors the level of the liquid and sends a signal to the monitoring station if the specified level or marked point falls below or rises over the designated point. This enables the system to respond and function properly as soon as something is detected. The global market for level switches is expected to reach US$ 4,133.7 million by 2032, expanding at a 3.7% CAGR between 2022 and 2032.

They are installed in a tank or container, and the switches include a vertically mounted level switch, a side mounted level switch, and a stem mounted level switch that is linked to an electrical contact output. For example, level switches are used in various equipment in power plants. For example, in steam boilers, the proper amount of water is necessary to generate steam at the right moment, and level switches are installed within the closed tank to do this.

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Regional Outlook

The regional coverage of level switches market includes North America, Latin America, Europe, APAC and MEA. Level switches market witnesses a high demand and production in Europe and North America. APAC holds major market share in the global level switches market due to intensifying demand for automation, increasing manufacturing industries and also increasing energy sectors where level switches are highly used.

North America & Europe hold the second highest share in the global level switches market. Adoption of automation and implementing automation-related infrastructure in all industries are going to boost the global level switches market. The evolution of the automation and energy sector in North America, where sensors are highly used in measuring the liquid, solid, dirty liquid, are the growth factors for the market in North America. Followed by Latin America & MEA.

Global Level Switches Market: Drivers

Level switches, which detect the specified level and send signal to the monitoring station, help the system to operate effectively without any liability.

In closed and heavy tanks, such as steam boilers and oil tankers where manual operation is difficult, these level switches or sensors are fixed, making it one of the key driving factors for the global level switches market. Industries such as wood and chemical, where the chemicals used are dangerous, hazardous to inhale, level switches are used.

Global Level Switches Market: Trends

The increasing demand for automation in end-use sectors, such as power plants, chemical plants and manufacturing industries, are going to upsurge the growth of the level switch where switches are highly used for various operations. Wide variety of level switches are available, each one is used in specific application and specific function. Capacitive switches are used in non-metallic materials, which are used in ceramic, plastic and glass industries.

Optical level switches or level sensors are used in air-conditioning systems, hydraulic reservoir, etc. Tilt switches are used in trippers, hoppers, etc. they have a probe which is designed to sense bulk material. Paddle switch is a rotating sensor used in powder, material level check. Tuning fork switches are used in chemical processing, they control the level of powder, grains etc. Floating level switches are used to detect the level of the liquid tank.

By Market Participants

Examples of some of the market participants identified across the value chain include Water Level, Murphy, Pricol Ltd, Electronet Equipment’s Pvt Ltd, AMETEK , BinMaster, Endress+Hauser AG, GEMS, GHM Group, elobau sensors technology, EGE,IMB Industrielle Messtechnik, Soway.

The research report presents a comprehensive assessment of the market and containsthoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

In December 2020, Rockwell Automation Indonesia launched a new safety switch (Allen-Bradley Guardmaster 440G-EZ) which can help to protect people, process and equipment. The new electromagnetic safety switch uses a power-to-lock magnetic locking function to improve the overall process.

In October 2021, OMRON launched the D41 series safety door switch that can effectively reduce the risk of interlock devices being deactivated to ensure a safe and worry-free production site.

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Global Level Switches Market: Segmentation

By switch type, the global level switches market is segmented into:

Capacitive

Conductivity

Diaphragm

Displacer

Float

Optical

Paddle

Tilt

Tuning fork

Rod

By application, the global level switches market is segmented into:

Closed vessels

Reservoirs

Temperature requirements

Mining

Hooper’s

Grain silos

Liquid holding tank

By end-use, the global level switches market is segmented into:

Plastic industry

Chemical industry

Power plant

Pharmaceutical

Wood industry

Ceramic industry

[manojbh]

Liquid Hydrogen Market – Industry Trends,size,share

An all-inclusive Liquid Hydrogen market report is prepared using data sourced from in-house databases, secondary and primary research performed by a team of industry experts. This report employs the SWOT analysis technique for the assessment of the development of the most remarkable market players. An excellent market report can be explored in terms of breakdown of data by manufacturers, region, type and application, market status, market share, growth rate, future trends, market drivers, opportunities and challenges, emerging trends, risks and entry barriers, sales channels, and distributors. The market is also well analyzed on the basis of numerous regions in the supreme Liquid Hydrogen report.

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This liquid hydrogen market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on liquid hydrogen market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Liquid Hydrogen Market Scope and Market Size

The liquid hydrogen market is segmented on the basis of method, distribution channel and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

·         On the basis of method, the liquid hydrogen market is segmented into electrolysis, steam methane reforming (SMR), coal gasification and others.

·         On the basis of distribution channel, the liquid hydrogen market is segmented into pipelines and cryogenic liquid tankers.

·         On the basis of end user, the liquid hydrogen market is segmented into transportation, chemicals and petrochemicals, electronics, refining, metals, glasses and other end user industries. Transportation segment is sub-segmented into aerospace, automobile and material handling. Electronics industry segment is sub-segmented into semiconductors and thin-film solar.

Competitive Landscape and Liquid Hydrogen Market Share Analysis

The liquid hydrogen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to liquid hydrogen market.

The major players covered in the liquid hydrogen market report are Air Products Inc., Air Liquide, Ballard Power Systems., FuelCell Energy, Inc., ELME MESSER L, FirstElement Fuel, Inc., Linde plc, Cummins Inc.,, PLUG POWER INC., PowerCell Sweden AB, Iwatani Corporation., United Hydrogen a.s., Kawasaki Heavy Industries, Ltd., The Andhra Sugars Limited., TAIYO NIPPON SANSO CORPORATION, Wuxi Yuantong Gas Co.,Ltd, FirstElement Fuel, Inc., SHOWA DENKO K.K., AIR WATER INC and Yingde Gas Group Co., Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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Global Liquid Hydrogen Market Country Level Analysis

The liquid hydrogen market is analysed and market size, volume information is provided by country, method, distribution channel and end user as referenced above.

The countries covered in the liquid hydrogen market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the liquid hydrogen market and will continue to flourish its trend of dominance during the forecast period as well. Emerging economies like India, Japan, South Korea and China are the major contributors from this region owing to the economies rapidly undergoing economic changes. Increased adoption of electric vehicles owing to the rising concerns regarding carbon emissions is fostering the market growth in this region. Increasing set up of liquid hydrogen by refinery industries is another important factor inducing growth in the demand for liquid hydrogen. Growth and expansion of the end user verticals in this region will directly and positively impact the market value of liquid hydrogen.

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