The value of midsize LPG carriers is falling fast, with a Japanese controlled, 10-year-old vessel in the process of being sold for half the price of the last such deal.
Sources say the Doun Kisen-controlled, Hyundai-built, 35,000-cbm Rose Gas (built 2007) is being sold for $20.6m to a company being set up by India’s Varun Shipping.
The market for midsize LPG carriers is fairly illiquid, with few transactions.
