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VLGC spot rates

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  1. Avance Gas Holding Ltd Reports Unaudited Results for the First Quarter of 2021. 27.05 2021. Freight Rates 2021 - 2021. Weekly quotes in US$ pr. ton. The above graph shows the quoted freight rates in the two main VLGC trade routes; the Arabian Gulf-Japan route (the Baltic VLGC index) and the US Gulf-Japan route (weekly quotes by Clarksons Platou.
  2. VLGC fixing East of Suez has picked up its pace this week with more cargoes quoted out of MEG and Australia. Still with a hefty premium in the West a good amount of ships is sailing towards this direction or planning to do so - helping the supply of available tonnage to decrease. LNG Rates. Spot Market (USD/Day, Weekly Change) Click rate to.
  3. Spot rates for VLGCs are on the cusp of hitting $100,000 a day, having hit highs in recent days not seen since August 2015. Rates for large LPG carriers are now in the region of $90,000 a day,..
  4. Tanker Worldscale Rate. Dirty VLCC MEG/Jap - 260,000. Dirty Suezmax Wafr/UKC - 130,000. 6 months. Clean LR2 MEG/Jap - 75,000. Clean LR1 MEG/Jap - 55,000. 6 months
  5. Cancel. VLGC spot rates hit five-year high on US exports to Asia. Analysts have put a positive spin on the VLGC sector as global delays sparked a spike in rates to their highest level in five.
  6. Dry cargo freight rates have maintained their super-sized run this week and here are some interesting comparisons from last year. In early July 2020 the 12 months T/C rates were: Cape bulkers $16,750/day vs. $29,500/day today Panamax bulkers $9,250/day vs. $26,000/day today Supramax bulkers $9,250/day vs. $23,000/day toda
  7. • VLGC spot rates have recovered from cyclical lows reached in April 2018 • Global fleet utilization has also improved meaningfully • Orderbook-to-fleet remains stable at ~14% • The costs of IMO 2020 are expected to increase vessel scrapping • Dorian LPG is one of the three largest operators of VLGC tonnage globall

Weekly Tanker Rates | By Jørn Bakkelund, Senior analyst 12 This report (including any future rates and/or forward-looking statements contained herein) are prepared by Clarksons Platou AS for general information purposes and for the recipient'sinternal use only. This report is based solely on publicly available information Who we are. Representing a global community of shipping interests, the Baltic Exchange provides a framework for its members to commit to high standard of business practice. We are the trusted provider of maritime data for the settlement of physical and derivative contracts. Watch our Corporate Video. Play LPG shipping rates enjoyed record weekly gains today after surging to $70.5 per tonne, according to the Baltic Exchange. The increase represents a Very Large Gas Carrier (VLGC) freight rate. VLGC spot rates rise to five-year high As traders lock in ships to source liquefied petroleum gas from the US, Canada, the North Sea and Australia because of disruption in Saudi Arabia's oil facilities, freight rates are shoring u

Fearnleys Weekly Report - FearnPuls

Smiles returned to owner's faces as spot rates rocketed through the month from the low 40s to mid 60s. LGC The large quantity of cargoes MEG - India H1 April caused rising freight rates and a tighter market, spot rates into India rose even further with the greater VLGC employment in H2 April. Activity became quieter at the end of the mont Platts assessed the VLGC Houston-Japan voyage at $85/mt Tuesday, its highest since February 26, 2016. The key PG-Japan VLGC freight rate was assessed at $52.50/mt Tuesday, up 28% week on week. It was last higher on February 1, 2016, at $54/mt, Platts data showed. However, shipowners and traders with their own vessels were cautious

Spot TCE earnings go below TC rates. VLGC freight rates have nosedived in the past two months amid lower export volumes from the US in 2Q although overall US exports registered robust year-on-year growth rates in 1H 2020. In addition, LPG exports from the Middle East registered a year-on-year decline in 1H 2020 driven by oil production cuts VLGC rates surge on Saudi production issues Published 18 September 2019 13:04 GMT Shipyards Jiangnan reveals LPG carrier design to 'revolutionise VLGCs' Published.

VLGC rates on the Houston-to-Japan route were at $88/mt between April 20 and May 4 — a three-month high — before easing to $87/mt May 7, Platts data showed Spot rates for VLGCs are on the cusp of hitting $100,000 a day, having hit highs in recent days not seen since August 2015, reports Splash247. Tonnage supply remains tight Rates for large LPG carriers are now in the region of $90,000 a day, having been on a steep charge from last month

Increasing delays in Panama Canal transits in Q4 supported a surge in VLGC spot rates. Due to COVID-19 restrictions and seasonally strong LNG and container vessels transits via the Panama Canal, Southbound traffic reported 14-day delays in late December. Heavy congestion in Panama Canal pushed VLGC rates to over US$100,000/day According to Clarksons Platou Securities, VLGC spot rates between the Middle East and Japan reached $51,300 per day as of June 4, up 12 percent week-on-week and up 21 percent month-on-month. Rates year-to-date are averaging $25,700 per day, compared to just $12,000 per day over the same period last year On Monday, the Baltic Exchange assessed rates for very large gas carriers [VLGCs, LPG carriers with capacity of around 84,000 cubic meters] at $103,000 per day. That's up from lows of under $20,000 per day as recently as July Subject: VLGC spot rate rises to 10-month high Add a personalized message to your email. Cancel. Send. Please Note: Only individuals with an active subscription will be able to access the full article. All other readers will be directed to the abstract and would need to subscribe. Sign In To Set a Search Alert. Spot rates for VLGCs are on the cusp of hitting $100,000 a day, having hit highs in recent days not seen since August 2015

As VLGC spot rates breached the six-figure mark in 2015, an unprecedented number of new ships were ordered. At the start of 2015 there were about 150 VLGCs in service. That fleet is on the verge of doubling. Figures compiled by VesselsValue show there are currently 263 VLGCs in service and 39 on order In sum, we expect utilization to trough at 73% in 2017E, recover to 77% in '18E and rise to 81% in '19E. This equates to average VLGC spot rates of USD 13k/d in 2017E, USD 18k/d in '18E and USD 25k/d in '19E. VLGC slide pack Company specifics: Market fundamentals: Disclaimer: The publisher currently has no investments in the compan Quarterly fleet wide VLGC freight rates averaged US$50,600 per day, with spot earnings of US$56,000 per day Declared Q4 2019 cash dividend of US$0.42 per share bringing total dividends declared. ECO VLGC COUGAR 84,000 2015 Hyundai HI BWTS ECO VLGC CORVETTE1 84,000 2015 Hyundai HI Scrubber 19 vessels operate under spot, COA or Time ECO VLGC CORSAIR1 84,000 2014 Hyundai HI SR Charter contracts of less than 24 months ECO VLGC COMET 84,000 2014 Hyundai HI SR in the Helios Pool, remaining 3 on TC. Modern VLGC CAPTAIN NICHOLAS ML 82,000 2008. 1 Spot Rates 2 Spot Earnings / TCE 3 Timecharter Rates 4 Trip Charter Rates 5 Own Brand Indices 6 Secondhand Prices 7 Resale Prices 8 Delivered Prices 9 S&P Activity 10 Newbuilding Prices 11 Scrap Prices 12 Fixtures 13 FFAs 14 Port Costs 15 Opex 16 Repayment Estimate 17 Contracting Activity (new orders) 18 Fleet Size 19 Fleet losses 20 Fleet.

Coming in to Q1, the VLGC spot freight rates were around $100,000/day early January but subsequently crashed to OPEX levels by March as US Gulf exports slowed down due to the big freeze. US production rebounded quickly in early April with US terminals reporting a record high 89 liftings. By mid Q2, the freight market had gained new momentum and. Average spot freight rates of VLGC for 2020 estimated in mid $60s Regarding freight rates for very large gas carriers (VLGCs) which convey liquified petroleum gas (LPG), some market sources gave views that the annual average rate for Middle East-Japan for 2020 might be in the mid $60 ' s per metric ton (mt) 24 1 minute read. Spot rates for VLGCs have more than quadrupled since February making the large LPG shipping segment the hottest sector in shipping, according to analysis on the cover of the. VLGC freight rates began rebounding from near nine-month lows of $27/mt March 3, as Qatar and ADNOC supplied full nominated LPG volumes for April loading. Liftings in the US Gulf Coast also returned to normal after weather disruptions, while spot and short-term trade activity picked up in Qatar and Kuwait, trade sources said, helping to. The increasing volatility in VLGC rates has brought them firmly into focus. Freight rates on a Houston-Chiba basis rose by 50% to $115/t between January 2 2019 and January 2 2020, and reached a four year high of $136/t on 21 January

VLGC spot rates hit five-year high, closing in on $100,000

  1. VLGC freight rates climbed to record levels in the quarter, with the Avance Gas Spot VLGC Index averaging USD 99,836/day in 3Q2015, up from USD 79,757/day in 2Q2015. Avance Gas' fleet continued trading spot and on spot-indexed time-charter contracts in the quarter ended September 30
  2. Weekly Market Report 5/05/21 - 18/05/21. Print. Email. 18 th May 2021. NWE/MED. Reduced vessel availability in North West Europe resulted in charterers quoting cargoes on forward dates in order to secure vessels for their cargoes. The market remains active and the rates are holding strong for the time being
  3. Spot business Broker commission negotiated and invoiced within the same business year. VLGC Very Large Gas Carrier. Vessel defined by Clarksons as more than 60,000 cbm. Worldscale is a schedule of freight rates for a standard ship in US dollars per tonne of oil for an array of oil routes. The rates listed in the table are designated as.

Simpson Spence Young Tanker Worldscale Rate

1 Spot Rates 2 Spot Earnings / TCE 3 Timecharter Rates 4 Trip Charter Rates 5 Own Brand Indices 6 Secondhand Prices 7 Resale Prices 8 Delivered Prices 9 S&P Activity 10 Newbuilding Prices 11 Scrap Prices 12 Fixtures 13 FFAs 14 Port Costs 15 Opex 16 Repayment Estimate 17 Contracting Activity (new orders) 18 Fleet Size 19 Fleet losses 20 Fleet. VLCC Spot Rates: A Rare Bright Spot Dirty tanker rates are in a well-documented and, for owners, tiring slump that leaves earnings levels well below their peaks seen almost five years ago now. VLCC rates have arguably been hit the hardest from peak to trough, although that provides little to no consolation to other vessel classes VLGC spot rates crash $80,000 in a month as tonnage list swells. VLGC owners have seen spot rates fall more than $80,000 per day over the last month as the free tonnage list grows. TradeWinds News February 4, 2021 CNOOC plans highest capex since 2014 after 5% rise in oil, gas output VLGC Shortage / (Surplus) vs. Spot Rates ($ per day) Quarterly VLGC 8yr Old Prices ($ MM) VLGC rates have fallen by 75% YOY in 2016 leading to a 23% reduction in secondhand prices $10,00

VLGC spot rates hit five-year high on US exports to Asia

  1. Fearnleys Weekly Report Week 28 - July 15, 2021. Printer version. Tankers Comments VLCC. Another week and more of the same. The MEG cargo count creeping up to the 110 level for the month of July, however, we are now heading into the twilight zone prior to the major August stem release (likely late this week, early next)
  2. Viewpoint: VLGC owners upbeat on 2020. Owners of very large gas carriers (VLGCs) are upbeat about 2020, with the market in a recovery period. But, new International Maritime Organisation (IMO) regulations on bunker fuels may restrain freight rates and profits. The three largest publicly-listed VLGC owners returned to profit this year after.
  3. g in to Q1, the VLGC spot freight rates were around $100,000/day early January but subsequently crashed to OPEX levels by March as US Gulf exports slowed down due to the big freeze
  4. BW LPG is positive on the medium-term outlook for the VLGC market despite recent falls in rates. BW LPG has fixed approximately 81% of spot and time charter days in Q1 at an average rate of.
  5. Optimal freight rate management for VLCC Jonas Røn Thorsgaard Steen S070573 Kongens Lyngby 2013 IMM-M.Sc.-2013-1
  6. The TCE rate for our fleet was $20,973 for the three months ended September 30, 2018, a 16.4% increase from a TCE rate of $18,015 from the same period in the prior year, primarily driven by increased spot market rates, partially offset by bunker prices
  7. VLGC spot freight rates were around $100,000/day early January but subsequently crashed to OPEX levels by March as US . In US$ thousands (unless stated otherwise) Three months ended Three months ended Income statement: 31 March 2021 31 December 2021 TCE per day ($) 42,552 36,130 TCE earnings 47,786 41,260 Gross operating profit 35,348 29,15

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Spot Rates ($ per mt) Summary 01 LPG Focus 02 LPG Fleet Focus 03 FR LPG/Ammonia 04 SR Petrochemical 05 PR Coastal LPG 06 Age Profiles 07 Vessel Transactions 08 Financials 09 Abbreviations 10 Contacts 10 contents issue 53 december 08 Container order swapped for 3 MGCs Prices fall Container order swapped for 3 MGCs Rates fall Baltic LPG Index. We forecast VLGC fleet utilization of 79% in 2018 and 87% in 2019, representing average VLGC spot rates of $17k/d and $35k/d, respectively. The positive effect of a weaker 2018 than expected is that contracting of newbuildings have grinded to a halt, with only one VLGC contracted since January Most of the earlier works employ non-parametric methodologies for spot freight rate analysis. Adland et al. ( 2008 ) investigate, for the first time, the price dynamics of the LPG transport market. Engelen et al. ( 2011 ) further investigate VLGC spot rates by multifractal detrended fluctuation analysis (MF-DFA) and rescaled range (R/S) analysis Affected by depressed liquefied petroleum gas (LPG) spot rates, Singapore's gas carrier owner BW LPG has seen its profit plunge to USD 8 million in the first quarter of 2017. The company's profit after tax fell from USD 59.9 million reported in the same period a year earlier, while its Time Charter Equivalent (TCE) earnings were [ Spot NGLs at Mont Belvieu were little-moved Thursday, with even the largest price changes from the day before struggling to top 1% on average. OPIS International LPG VLGC Freight Rates ($/mt) Today Change Origin Destination AG Japan 65.500 0.500 Houston Flushing 65.000 0.00

VLGC rates see record weekly jump in rates Seatrade Maritim

VLGC spot rates rise to five-year high :: Lloyd's Lis

Downtrend persists in VLGC rates. Fleet expected to see growth in 2021, 2022. VLGC rates continued to nosedive, even as milder temperatures in the US Gulf began to gradually ease disruption at the. Charter rates surged again in 2018 as new liquefaction projects came online and cargos were diverted from Europe to Asia (with longer average voyage times). This was a short lived phenomena as Asian demand softened in Q4 2018 and large volumes of LNG flowed back into Europe. The 2019 charter rate surge. Spot charter rates have quickly surged. Avance Gas has a fleet of 14 Very Large Gas Carriers (VLGC) mainly constructed in China and South Korea. Despite the full spot rate exposure in an abysmal market, the company will retain a robust liquidity position on our estimates ahead of improving fundamentals. Trading at a 18% discount to steel values at the current trough Ship owners like Dorian LPG are reaping the benefits of very strong VLGC spot rates. FreightWaves • October 22, 2019. LNG shipping rates now far exceed crude-tanker rates. Spot rates for liquefied natural gas (LNG) carriers are now higher - much higher - than for crude tankers.. LNG Spot Index Assessment - Spark Spot rate ($/day) Last Price Spark25S (NWS / Tianjin) 59,250 54,500 Spark30S (Sabine Pass / Gate) 69,750 65,000 LPG (KT) Spot TCE rate ($/day) VLGC, 44 (AG-Japan) 20,802 BUNKERS ($/mt) VLSFO 10 day trend HSFO MGO US Gulf 497.5 394.0 589.5 Rotterdam 503.0 389.0 551.

If current bunker rates in Fujairah are sustained and VLGC spot rates remain unchanged August will be a bumper month for shipowners. Share. by ASC Staff. Wed 15 Jul 2015 09:18 AM. VLGC rates have rebounded as more ships are fixed to load in Algeria, West Africa, and the US Gulf, despite weak demand in East Asia.. VLGC earnings in the spot market (on the benchmark AG-Japan route) averaged $12,500pd; way below the break-even rate of $21,000pd. Shipowners are hoping for a better future as annual fleet growth is set to slow down from 16% in 2016-17 to a more manageable 5% over 2018-19. However, new ordering is also picking up, with seven VLGCs ordered in. Available Very Large Gas Carrier (VLGC) vessels to carry these increased overseas volumes are limited. As a result spot freight rates have reached record levels recently. In today's blog Stayin' Afloat With the LPGees - Part 4 Freight Voyage Calculation Model Sandy Fielden walks through a voyage cost calculation The most important factor for Dorian is VLGC spot rates. Although they have recently hit an improved level of $30k/day (versus cash breakeven of about $15k), these rates have hovered closer to. VLGC spot rates are currently averaging around $60,000 per day, higher than they usually are at this time of year. The winter months typically herald lower VLGC spot rates. Buyers of LPG generally.

VLGC freight rates have been in free-fall since August 2015 as fleet growth has continued to outpace demand. Over this period as many as 41 VLGCs have been delivered and as a result, spot rates for these vessels touched a six-year low of $25 per tonne in April on the benchmark AG-Japan route VLGC spot rates hit five-year high, closing in on $100,000 a day Spot rates for VLGCs are on the cusp of hitting $100,000 a day, having hit highs in recent days not seen since August 2015. 08 December 2020 Tuesday 13:0

According to Clarksons Platou Securities, VLGC spot rates between the Middle East and Japan reached $51,300 per day as of June 4, up 12 percent week-on-week and up 21 percent month-on-month When asked whether VLGC spot rates could top $100,000 per day as they did in 2014-15, Simonsen replied, They could, but it's a bit more balanced now [between supply and demand], so I don't think. LNG World Shipping's coverage of the global LNG shipping industry is the best there is. The journal covers the full length of the LNG maritime transport chain, from offshore developments at the.

Analysis: VLGC freight rate hits multiyear high amid

Descriptive statistics daily VLGC spot rates

Spot TCE earnings go below TC rate

  1. alling fees Inventories and Consumption • Propane stocks • Feedstock consumption • Petroleum and natural gas Futures Voyage record Detail from 2003 forwar
  2. VLGC spot rates (monthly) VLGC share index vs 3y old VLGC (R²=0.86) 4 LPG Shipping (VLGCs) Source: Cleaves Securities, Bloomberg, Shipping Intelligence Network The cyclical peak could already be behind us, with the next trough in 2021/22
  3. The market for the very large gas vessels has been sizzling in recent years, with VLGC vessels sailing for record profits in the spot market. And this development does not seem to be slowing down yet, as evident in the result for the first quarter of the year from Oslo-based Avance Gas - and not least the carriers expectations for the years to come
  4. Freight rates of VLGC's are expected to increase at a rapid rate owing to the opening of the enlarged Panama Canal. The increasing demand for LPG especially in the Asia Pacific region is the primary driver bolstering the demand for very large gas carriers. The energy hungry countries such as Japan, China and India are the major centers for.
  5. The differential between delivered Asian propane prices and U.S. spot propane prices averaged US$60 per ton throughout the quarter, effectively capping VLGC spot freight rates at near opex levels and leading to a contraction in global LPG trade as a result of cargo cancellations. The narrowing of the differential was driven by lower Asia

Vlgc - Latest shipping and maritime news TradeWind

GE owns 6 Gas carriers now of which 3 added in the current FY from just one Very Large Gas Carrier (VLGC) as on March'16. Q2CY18 saw average VLGC spot rates going down to below $10,000 a day and now they are more in the region of $20,000 per day. Timing of carriers purchase and sell track record remains. Factors influencing freight rates VLGC demand in 2019. However, US exports would flow to other importers and China would source LPG from other exporters. Net, the effect is 2% reduced VLGC demand in 2019/'20. This equates to a fleet utilization 1.7% lower in both 2019 and 2020, with spot rates down $5k/d and asset prices 4-5% lower vs our base case

'Rapid' decline as VLGC rates cut in half with tonnage

Freight rates per teu on the major Asia-Europe container trades have seen an unprecedented 30% tumble this week. West-of-Suez diversion may boost VLGC rates through Aug If current bunker rates in Fujairah are sustained and VLGC spot rates remain unchanged August will be a bumper month for shipowners The VLGC vessel type accounted for the largest market share of over 28% in 2019. The segment will have a steady growth owing to developments in oil & gas capital markets, such as a reduction in the rate of interest, an increase in liquidity levels among major investors, and a rise in income prospective 1 Spot Rates 2 Spot Earnings / TCE 3 Timecharter Rates 4 Trip Charter Rates 5 Own Brand Indices 6 Secondhand Prices 7 Resale Prices 8 Delivered Prices 9 S&P Activity 10 Newbuilding Prices 11 Scrap Prices 12 Fixtures 13 FFAs VLCC, VLGC, VLPP Containership.

VLGC rates climb as vessel delays and enquires mountBetter future expected for VLGC shipowners - SAFETY4SEA

VLGC Rates Spike Amidst Vessel Demand In US - mfame

Truckload Spot Rates Slip Seasonally, But Uncertainty Looms

VLGC Spot Rates Hit 5-Year High Amounting To $100,000/day

That lower utilization came at the same time as Opec production cuts outpaced higher exports out of the US, and during that time we did see a sharp decline in spot VLGC freight in early June, we saw Houston-Chiba rates dipping below $50/t in discussions as spot rates between the Middle East and Asia weakened Period deals pour in for panamax bulkers as players hedge against further rate rises. Flurry of reported period deals has hit the market, alongside big rises in spot-rate assessments. Thu, 08 Jul 2021 16:5 VLGC spot rates are sensitive to not only the fleet supply/demand balance but also changes in regional LPG prices. As a result of the large number of newbuilding deliveries in 2016, VLGC freight rates in the first quarter of 2017 had fallen to around USD 450,000/month, or approximately 60% below those pertaining in the same quarter last year. VLGC is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms. shipping analysts and press overwhelmingly focus on the headline VLGC rates, which have surged to unusually high levels this year. Epic Gas Thinks Big (And Small) VLGC - The spot market is enjoying a strong recovery May/Jun VLGC Seasonality appears fully priced. Markets believe that reduced LP demand will drive cash prices lower in the West during summer and assume East will keep buying steady. I also note that Saudi Aramco's biggest competitor in the LPG market is freight, with Baltic VLGC spot rate assessed at $128/mt while Japan/Gulf LP spread is.

To examine this, I pulled 2019's data on VLGC cargoes, from August 19 to September 19, globally. The US to China route was practically non-existent. However, fast forward to the same period in 2020 and the US to China route has overtaken US/S. Korea for the top spot. Source: August 19 to September 19, 2020 Data Courtesy of VesselsValu Silver Lining for VLGC Shipowners: Drewry. A slowdown in fleet growth should begin the recovery cycle from the second half of 2018, although freight rates will not reach the levels seen during the bull run of 2014-15, according to the latest edition of the LPG Forecaster published by global shipping consultancy Drewry. 2017 was one of the toughest years in the history for VLGC shipping as. Therefore, it is unlikely that the depressed sentiment for the VLGC and LGC carriers will sustain in the long term. For the first quarter, BW LPG reported improvement in spot rates, and spot rates will continue to improve from current levels besides an increase in percentage of term contracts. Fundamentals and conclusio

VLGC earnings in the spot market (on the benchmark AG-Japan route) averaged $12,500pd; way below the break-even rate of $21,000pd. Shipowners are hoping for a better future as annual fleet growth is set to slow down from 16% in 2016-17 to a more manageable 5% over 2018-19 VLGC spot rates hit five-year high, closing in on $100,000 a day 08 December 2020 Tuesday 13:00 Endesa to Convert Algeciras Coal Terminal into LNG Bunkering Pier 26 November 2020 Thursday 11:00 Supramaxes experience radical shift in age profile 23 November 2020 Monday 11:0 At its peak, rates jumped to over USD 100,000 /day. However, VLGC freight rates came down significantly in late January, and we expect the market to be under pressure in Q2 2021. BW LPG has fixed approximately 80% of Q1 2021 Spot and Time charter available days at an average rate of USD 41,000 per day, on a discharge-to-discharge basis. Despite. Dorian LPG Ltd. (NYSE: LPG) (the Company, Dorian LPG, we, and our), a leading owner and operator of modern very large gas carriers (VLGCs), today reported its financial results for the three months and fiscal year ended March 31, 2021. Highlights for the Fourth Quarter Ended March 31, 2021 Revenues of $99.6 million. Time charter equivalent (TCE) (1) per operating day rate for our.

Commercial Performance : BW LP

There are two main factors affecting VLGC freight: US-Asia and Middle East-Asia traffic. As the U.S.-Asia voyage is longer, the rate is more important. Therefore, U.S. LPG exports restricted by the epidemic will limit the spot price of VLGC. But the facts have proved that concerns about US exports are unfounded It is also important to mention here that 36 new VLGC were introduced in the markets in fiscal 2016 and for fiscal 2017, it is likely that 24 new VLGCs will enter the market. This has created some near-term excesses and translated into relatively lower spot rates Upon completion of our VLGC Newbuilding Currently on time charter at a base rate of $500,000 per month and a 100% profit share based on average spot market rates between the base rate of.

Boxes bounce back, VLGCs and Capes up - FreightWave

Highlights - Second Quarter Took delivery of the second vessel under our VLGC newbuilding program, the Corsair , from Hyundai Heavy Industries Co. Ltd. (Hyundai), on September 26, 2014 - which is trading in the spot market. Captain John NP recorded time charter equivalent (TCE) rate of $71,355 for the three months ended September 30, 2014

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