LPG shipping adds to gains as China returns to US propane buying
- VLGC spot rates from the Middle East Gulf to Japan are up 144% year on year; rates from US Gulf to Japan are up 140%
- Chinese buying of US propane increased sharply in July, to more than double May levels, on fears that US-China trade war could resume
- Shares of VLGC owners Dorian LPG and BW LPG up 24% and 22% year to date, respectively
China-US trade tensions have failed to derail the upward trajectory of LPG shipping, and in July, trade concerns appear to have increased volumes, with China front-loading US propane
