Shipowners have taken a glass half-full stance on Vitol’s emergence as an owner of VLGC tonnage following a potential eight-vessel order at Hyundai Heavy Industries this week.
Vitol put pen to paper on the two firm and six optional vessels at a time when VLGC rates are limping along at well below depressed year-to-date averages and the market is still digesting a vast newbuilding catalogue that has seen the fleet grow by 50% since 2014.
