Stolt Tankers’ new boss believes the chemical tanker sector is ripe for consolidation.

The Netherlands-based division of Oslo-listed Stolt-Nielsen is the biggest operator in the world, with a fleet of 160 ships.

Chief operating officer and president-elect Maren Schroeder told delegates at a capital markets day in London that smaller shipowners are being deluged by the need to deal with sanctions compliance, environmental legislation and geopolitical disruption.