VLGC rates are still moving up, as the Russian invasion of Ukraine drives the price gap between propane and naphtha.
Fearnley Securities assesses spot rates for the large gas carriers at $40,000 per day out of the Middle East, while trips from Houston to Chiba in Japan can pay $46,500 per day.
Activity in the East remains centred largely around the last 10 days in May, apart from some prompt Indian cargoes.
