Rates gain stability as 20 VLGCs take the long route back to US Gulf

VLGC spot rates have stabilised after a “minor correction”, brokers and analysts say, with inefficiencies keeping earnings healthy.

Clarksons Securities pegged average levels at $44,900 per day on Wednesday, up 4% in a day.

VLGC rates plunge by 25% and there could be worse to come, brokers warn

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Shipbroker BRS Group noted around 20 VLGCs that had discharged LPG in South East Asia taking the long route around South Africa to return to the US Gulf for July loadings.