ShippingWatch

Avance Gas sees a positive market looking into 2021

The market for LPG will be positive for the remainder of 2020 and into 2021, predicts Avance Gas. The shipping company projects daily rates of USD 40,000 and is keeping a close eye on the oil price.

Photo: PR/Avance Gas

Covid-19 has also affected LPG trade, but gas carrier Avance Gas still believes in a positive market for the remainder of 2020 and into 2021, reveals the company's interim report for the third quarter.

"While Covid-19 has had a dampening effect on demand, we remain positive that LPG will continue to flow and the market will stay positive in Q4 2020 and into 2021, driven by Chinese PDH (propane production facilities, -ed.) and Asian retail demand growth, where India is a significant contributor," writes the company in its interim report.

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