06
ON TIME, IN FULL BY PAUL GOOCH
MOVE YOUR ASSETS!
IN 1996 WE we were invited to speak at a Lloyds–Richardson Lawrie conference in London on the chemical industry’s expectations from the chemical and gas tanker market. At the time we had responsibility for Dow
There was no question it was an impressive piece of state-of-the-art marine engineering, but the design raised some questions: 1. What was the new-build cost of such a vessel? With all the shipbuilding
Chemical Europe’s logistics, which included bulk marine chartering. In
subsidies and tax breaks at the time such a question was almost impossible
preparing for the presentation we engaged our network in the industry to
to answer, but the consensus view of the experts we contacted was well
research the subject.
north of $100m (in 1996). We asked ourselves if the chemical industry, ever
By chance the timing of our research coincided with the delivery to Stolt Parcel Tankers of the M/T Stolt Innovation, the first in a series of ten
focused on cost control, would be able to afford it? 2. However, more importantly, the configuration of 42 integral and four
37,000-tonne so-called Innovation-class chemical parcel tankers that would
deck tanks was intriguing. The total tank capacity amounted to 38,600 m3,
be delivered through 1998. The new ship incorporated features that set new
which meant that, given the number and range of tank sizes, there were
standards of environmental protection, safety and operating efficiency. M/T
inevitably some very small tanks in the configuration. We learned during
Stolt Innovation had 42 integral and four deck cargo tanks, all constructed
our research that it was estimated that chemical parcel tankers spent
from solid stainless steel, and all fitted with separate pumps and pipelines
approximately 40 per cent of available time (remember that number!)
and able to handle hazardous and corrosive cargoes (IMO Type 1).
in port, loading and discharging, and moving from one tank terminal to
There was some wry speculation at the time that, with all the tanks and
another. Perhaps naively we thought chemical parcel tankers were designed
fittings in stainless steel, when the lifetime of the hull expired they could
to move large volumes of bulk chemicals from A to B, as safely, efficiently,
simply build a new hull around the tanks…
and timely as possible. Lots of small tanks would seem to be inconsistent
HCB MONTHLY | JULY-AUGUST 2022
