VLGC earnings at highest level since early 2016
Entering summer, the VLGC market has heated up on increasing LPG flows from the Middle East and the US Gulf to Asia. While the Middle Eastern rally is slowing down on traders’ relets, low US propane prices will drive VLGC demand in the Gulf in the future
TCE of VLGCs have risen above $21,000 per day with further upside in the US Gulf expected
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