VLGC spot rates crash $80,000 in a month as tonnage list swells

VLGC owners have seen spot rates fall more than $80,000 per day over the last month as the free tonnage list grows.

The Baltic Exchange's VLGC index finished on Wednesday at $45 per tonne, or $28,107 per day — down 10% from Tuesday and 73% from this time in January.

Rates were $110,000 per day in the first week of 2021.