VLGC owners should soon enjoy higher demand as Asian refiners switch in more LPG.
Reuters has reported that Asian petrochemical producers plan to switch some feedstock from naphtha to cheaper LPG in the second quarter due to the widening price gap between the two.
Taiwan’s Formosa Petrochemical, Asia’s top naphtha importer, plans a 10% switch to LPG in May, continuing until the end of the third quarter.
