VLGC rates are expected to rise further after the sector battled back from a muted start to 2023.
Clarksons Securities noted a “surge” in earnings in recent days, with rates hitting $58,000 per day for non-eco ships and $67,000 for those fitted with scrubbers.
This is a 65% increase from the recent low of $35,000 caused by the decline in Panama Canal waiting times and the impact of the US cold snap on arbitrage profits.
