Weak LPG market keeps Epic Gas in the red
Carrier Epic Gas left the first quarter with a net deficit of USD 2.4 million. The average LPG rates have decreased significantly over the past 12 months, says the carrier.
BY KATRINE GRØNVALD RAUN
Epic Gas remained in the red for the first three months of the year with a net deficit of USD 2.4 million, compared to a net loss of USD 2.5 million in the same period last year. The carrier's revenue increased to USD 33.4 million from USD 23.3 million last year, even though the rates for transporting liquefied petroleum gases (LPG) have decreased significantly over the past 12 months, says Epic Gas in the first quarter interim report.
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