VLGC spot rates are likely to remain under pressure for as long as the US-China trade war endures, analysts believe.
Earnings crashed last week as China’s retaliatory tariffs on US exports hit demand for cargoes from the US Gulf, before a rally on Friday.
The Baltic Exchange quoted spot rates from Houston in the US to Chiba in Japan at $28,400 per day on Friday, up 65% in 24 hours, but still down 22% in a week.
