ShippingWatch

Gas rates reach highest level in years

Spot rates for VLGCs boomed in the second quarter, when earnings averaged at 450 percent above the level in the corresponding period last year. The recovery might continue in the coming years, assesses investment bank.

Photo: PR/BW LPG

2019 stands to be a solid year for very large gas carriers (VLGCs) on the spot market.

Spot rates for the large LPG vessels boomed in the second quarter, averaging at USD 50,000 per day.

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