The Chinese Lunar New Year has resulted in a surge of US-sourced LPG heading towards Europe, according to analysts.
At least nine VLGCs are heading from terminals in the US Gulf to destinations on the continent or in the Mediterranean.
“Among other reasons, these cargoes gave preference to Europe instead of doing their regular deliveries to the Far East due to the upcoming Chinese New Year and therefore traditionally lower interest from Chinese buyers during this period,” said tanker tracking analysis company Kpler.
