What's Happening?
Advanced Polymer Coatings (APC) has signed a contract with Oman's national shipping company, Asyad Shipping Company, to apply its MarineLINE coating system to two new chemical tankers. This marks APC's
first deal with Asyad, which operates a fleet of over 90 vessels. The MarineLINE coating is valued for its chemical resistance and ease of cleaning, reducing contamination risks. The coating will be applied to two 49,200 DWT medium range chemical product tankers at a shipyard in China next year.
Why It's Important?
The deal signifies APC's expansion in the global chemical tanker coating market, where it currently holds a 12% share. The partnership with Asyad Shipping Company highlights the growing demand for advanced coating solutions that enhance operational efficiency and safety in the maritime industry. This development could lead to increased business opportunities for APC and strengthen its position in the market.
What's Next?
The application of MarineLINE coating to the new tankers is scheduled for next year, with potential implications for APC's market share and reputation. Asyad Shipping Company's decision to use APC's coating system may influence other shipping companies to consider similar solutions, potentially leading to further contracts and collaborations.
Beyond the Headlines
The deal reflects broader trends in the maritime industry, where companies are increasingly investing in technologies that improve safety and environmental compliance. The use of advanced coatings can reduce maintenance costs and enhance the longevity of vessels, contributing to sustainable shipping practices.
