VLGC rates are coming down off six-year highs as product margins tighten, but owners need not despair just yet, analysts believe.
Spot earnings had reached $110,000 per day last week, but have been falling since, dropping to $98,500 per day on Thursday, or $108.71 per tonne, according to the Baltic Exchange's index.
Fearnley Securities said the market had seen tighter product differentials and margins, driven by rising Mont Belvieu prices in Texas, which are pushing rapidly towards $1 per gallon.
