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Increased purchase trades cushion LPG decline

The increase in demand for liquefied petroleum gas in Asia has not managed to reverse the direction of rates on the Middle East Gulf-Japan route

The increase in tenders for LPG was due to latent demand, coinciding with the availability of spot cargo supply from the Middle East and robust exports from the US. China, which has been opening up slowly from Covid lockdowns, has also helped to support demand

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