An uptick in orders for VLGCs is creating a frisson of interest in newbuilding circles.

Brokers say equivalent time-charter rates for very large LPG carriers remain at historically low levels and well below break-even for the asset.

One broker quotes current levels for modern VLGC tonnage at around $600,000 per month, which he says falls short of what is needed to cover operating expenditure and capital expenditure by about $200,000 per month.