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Danske Bank: VLGC rates of plus USD 100,000 set to last

The peak season for the major gas vessels, VLGC, is underway and the rates have now reached more than USD 100,000 per day. Solid earnings ahead for Avance Gas, says Danske Bank.

Photo: Avance Gas

The summer is the peak season for the biggest gas vessels, and the market will remain elevated in the months to come, says Danske Bank in a new analysis. The VLGC rates are currently climbing above USD 100,000 per day in a market that otherwise took a dive after improving in April.

This development bodes well for companies such as Avance Gas, as it - according to Danske Bank - means that Avance Gas is facing "superior returns and large dividend pay-outs." The same thing applies to competitors Dorian LPG and BW LPG, the latter of whom will fall somewhat under former Norden CEO Carsten Mortensen's jurisdiction once he takes over as new CEO of BW Group.

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