Niels Stolt-Nielsen had laid out his case for why consolidation is absolutely necessary to spur viable returns from chemical tankers.
The chief executive of Norwegian shipowner Stolt-Nielsen believes the industry is too fragmented to combat what he has long argued are unsustainable returns from the vessels over a number of years.
Stolt-Nielsen itself has about a 10% market share in the sector, the single biggest player, but there is a long trail of more than 20 other operators with shares ranging from 7% to fractions of 1%.
