VLGC owners are still raking in record amounts of cash despite a drop in spot rates this week.
Fearnley Securities described earnings as coming down off “astronomic” highs of more than $170,000 per day from the Middle East to Asia, according to Baltic Exchange assessments.
Ships are fixing at $145,500 on the route, a fall of 15% over the week but still “exceptional”, the investment bank added.
