Released on: September 9, 2007, 10:46 pm

Press Release Author: Bharat Book Bureau

Industry: Transportation & Logistics

Press Release Summary: This Ethylene Carriers: Fleet Set for Rapid Expansion?
Briefing Report details the recent success of the ethylene market, its continued
expansion and whether this growth can be sustained in the future.

Press Release Body: Bharat Book Bureau, a leading market information aggregator has
put forth a report-
Ethylene Carriers: Fleet Set for Rapid Expansion?
("http://www.bharatbook.com/detail.asp?id=19873")

This Briefing Reports are an invaluable addition to the extensive portfolio of
reports and provide essential reading for all those involved in or investigating
specific marine industry sectors.

Maritime intelligence at your finger tips ,Analytical and well-balanced arguments
,Brimming with fundamental information ,Excellent supplementary resources for
meetings and presentations
Product Description

This Ethylene Carriers: Fleet Set for Rapid Expansion? Briefing Report details the
recent success of the ethylene market, its continued expansion and whether this
growth can be sustained in the future.

Since 2003, the orderbook for ethylene vessels has grown from just one vessel,
representing 1.1 per cent of the fleet, to 45 vessels in July 2006, 55.0 per cent of
the current fleet. This rise has meant that new orders will soon exceed production
capacity.

Market boom

Despite a ten year stagnation of the ethylene carrier market with limited
investment, between December 2004 and July 2006 there was an unprecedented order
boom for 44 new vessels. In the previous ten years, a total of only 26 carriers had
been ordered.

Spot ethylene freight rates, which stayed around $120/mt between 2002 and 2004,
began to climb in early 2004. By January 2005 transatlantic eastbound spot rates had
exceeded $200/mt, reaching $225/mt by April 2006.

Sustainability

This predicts that good freight rates and forecasts of increased long-haul trade
from new Middle-East production capacity will continue to drive production and new
market entrants. Established ethylene carrier owners will have to capitalise on the
forecasts of increased trade, defend their market share and modernise their fleets
to sustain leadership.

This report finds that new production capacity and increased long-haul trade out of
the Middle-East will create good demand growth for ethylene carriers, whilst
scrapping will remove some capacity. With the huge orderbook and record number of
deliveries due over the next two years, there is a high chance the ethylene carrier
market will peak soon.

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