Fearnley Securities has upgraded Singapore owner BW LPG in a positive read of the VLGC sector, despite recent rate plunges.
The investment bank views resilient demand and a low orderbook as key to a recovery in 2021.
Fearnley now has the BW Group company as a buy, up from hold, while reiterating hold recommendations on John Fredriksen's Avance Gas and another rival, Dorian LPG.
