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Tankers and Gas Political Risk and Trade Geopolitics

Two wildcards for VLGC rates: US-China talks and Panama Canal ‘bottleneck’

  • US Gulf-Japan VLGC rates at $74,753 per day, up 55% year on year; Middle East Gulf-Japan rates at $71,668 per day, up 62% year on year
  • Shipping inefficiencies caused by the Chinese tariff on US propane are in the process of unwinding, a negative for tonne-miles
  • Capacity limitations of the Panama Canal are forcing more VLGCs to take the Cape of Good Hope route, a positive for tonne-miles

  • Analysis

Spot rates for VLGCs remain very strong, but there is also uncertainty. BW LPG chief executive Kristian Sorensen discussed the variables that could change the future tonne-mile equation

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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