Epic Gas reduced its deficit in the first quarter

LPG carrier Epic Gas came out of the year's first quarter with a smaller deficit in a market that is still struggling with low rates and overcapacity. Larger ships and several scrapping candidates are good news, says the quarterly report.

Photo: Epic Gas

Overcapacity and rock-bottom rates continue to plague the LPG market, though the segment's biggest player, Epic Gas, was nevertheless able to reduce its deficit in the first three months of this year.

Epic Gas put a lid on the first quarter with a net loss of USD 1.4 million compared to a loss of USD 2.4 million in the same period last year, according to the interim report from the Singapore based company.

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