Average VLGC rates have slumped by 16.1% over the past week as sentiment favoured charterers in both the Pacific and Atlantic markets, which each saw only one fixture.
Shipbroker Fearnleys assessed average rates on Wednesday at $1.2m per month, which was a $250,000 fall from the prior week.
The Baltic Exchange’s spot assessments for VLGCs also pulled back to the equivalent of $49,700 per day, which represents a one-week dip of 11% and a 17% slump since rates peaked at $59,900 per day in early October.
