Avance Gas' revenue was more than halved and the result went negative in the second quarter. The markets are disappointing, says management from the LPG carrier which boasts a fleet of 14 VLGC gas vessels.
BY LOUISE VOGDRUP SCHMIDT
Avance Gas' quarterly report, published Wednesday, clearly illustrates that the LPG markets have experienced a dramatic decline over the last year. A decline which has surprised many stakeholders in the market.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.