Buoyant VLGC spot rates have driven past $70,000 per day as Middle East exports boost vessel demand.

The Baltic Exchange’s VLGC index for the Middle East to Asia voyages hit $103.60 per metric tonne on Friday, or $71,600 per day, up 5% from the previous daily assessment and 81% higher month-on-month.

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Clarksons Research pegged rates on the route at $69,739 per day, up 32% week on week and the highest level since January 2021.