Dorian-CEO expects new spike in LPG rates after record start to 2021

LPG rates reached a peak for now in mid-January. Since then, they have cooled off somewhat, but this does not keep Dorian CEO John Hadjipateras from projecting a new spike already this year. Four reasons factor in, he tells ShippingWatch.

Photo: PR / Dorian LPG/NYSE Euronext

The rates for shipping LPG on the Very Large Gas Carriers, VLGC, set a new record in mid-January when shipowners were making USD 110,000 per day in the spot market.

Since then, the rates have decreased again to close to break-even, which for major player Dorian LPG is just above USD 20,000 per day.

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