VLGC rates continue to plummet from early-year peaks as tighter product differentials close off arbitrage opportunities.
The Baltic Exchange VLGC index stood at $89.71 per tonne on Tuesday, which equates to time-charter equivalent earnings of $77,773 per day, according to Norwegian investment bank Fearnley Securities.
The rate is down 15.6% from Monday and 22% month on month.
And the assessment means earnings have now dropped $33,000 per day in seven days.
