DVB: VLGC prices look promising

Rising demand for LPG freight from the Middle East to Asia means plenty of employment for the massive gas carriers in years to come, giving hope to the prospects of solid profit opportunities.

Photo: Pressefoto

The global gas and oil production is expected to increase in years to come, and pipes in the Middle Eastern ports, in particularly, will be flowing smoothly, says DVB Bank. The massive VLGCs are currently making more than USD 50,000 a day, and there's hope that this level can be sustained going forward, writes Lloyd's List.

The consumption of liquid gas (LPG), a by-product of the gas processing from the oil refineries and which is used in, among other things, the manufacturing of plastic, is increasing in the regions where it's extracted. But DVB also believes that the demand in Asia will increase significantly in the years to come.

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