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Fearnleys: Strong US market boosts successful gas giants

The party is far from over for the major VLGC vessels as the towering spot rates look set to continue in 2015. Export terminals in the US create solid prospects, says Fearnleys.

Photo: PR/BW Group

There seems to be no end to the good news for gas carriers operating the biggest ships, VLGC. Analyst agency Fearnleys is now upgrading its confidence in the gas segment, and not least for companies such as Avance Gas, BW LPG, Dorian and Aurora LPG.

According to the analyst agency, spot rates for VLGC vessels will reach USD 71,000 per day, compared to Fearnleys' previous estimate of USD 59,000. And the estimate for next is also raised, though not to the same soaring level, as a high number of newbuildings are set to hit the market next year, which will pull the rates down to a more normal level. Fearnleys projects 2016 spot rates of up to USD 36,000, compared to USD 30,000 before.

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