Looming US LPG supply cuts and reduced demand threaten to bring fresh pain to a weakened market for VLGCs in the second half of the year — but some players feel the sector is in good condition to catch any recovery when it comes.
Charter rates for VLGCs have nosedived in the past month. In the first week of May, they were at the top end of $40,000 per day, but have now more than halved, with levels in some regions below break-even.
