A faster-than-expected rise in US LPG production and growing Asian demand, coupled with likely Panama Canal delays for VLGCs, are expected to support LPG freight rates in 2022, according to Poten & Partners.
Speaking in a webinar, Poten senior LPG analyst Zahid Afzal said the brokerage has increased its 2021 forecasts for US LPG exports as US shale producers are showing signs of wanting to ramp up production faster in response to higher oil prices.
