Persian Gulf-Japan VLGC rates set for more gains after reaching record above $150/mt

VLGC rates on the key Persian Gulf-Japan route are expected to rise further through Q4, as North Asian LPG demand strengthens during winter, after tight tonnage, longer journeys with rising US-to-Asia flows and busy drydocking schedule propelled freight to the highest on record at $154.5/mt Sept. 13, S&P Global Commodity Insights data showed. This is stoked by healthy vessel demand,… VLGC rates on the key Persian Gulf-Japan route are expected to rise further through Q4, as North Asian LPG demand strengthens during winter, after tight tonnage, longer journeys with rising US-to-Asia flows and busy drydocking schedule propelled freight to the highest on record at $154.5/mt Sept. 13, S&P Global Commodity Insights data showed. This is stoked by healthy vessel demand,… Read More