The dream scenario for the very large gas carriers that are currently enjoying towering rates has started to crumble. In late April the rates hovered at a record-high USD 100,000 per day, but now in mid-May the rates have dropped to USD 60,000 per day.
"Brokers speculate rates MEG-East may drop further to around USD 70 per ton which would translate into VLGC earnings of about USD 40,000 per day, still a healthy level," says Platou in an analysis.
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