VLGC owners are continuing to see rises in spot rates, but the ongoing recovery is being muted by Saudi Arabian production cuts.
The Baltic Exchange VLGC index was up 5% on Friday to $38.07 per tonne, or $16,895 per day, compared with less than $10,000 per day earlier this month.
Rates soared to $114,000 at the beginning of the year, as vessels were tied up by delays at the Panama Canal.
