Avance Gas president Christian Andersen says it is surprising that freight rates for very large gas carriers (VLGCs) remain at six-year lows, in spite of high utilisation of LPG ships.
Andersen, in an interview with TradeWinds, says industry fragmentation continues to keep pricing power weak within the LPG shipping industry. If freight rates stay below break-even levels for an extended period, shipowners may finally be forced to consolidate.
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