VLGC spot rates have plunged by 48% in a week after US tariffs collided with tight margins in China’s petrochemical sector.
The Baltic Exchange’s Baltic LPG Index stood at 2,420 points, the equivalent of $24,200 per day, on Thursday.
That would have been the lowest point of the year were it not for a 39% crash a day earlier that took the index to 1,981 points, the worst since early 2024.
