VLGC rates have been tipped to hold at elevated levels next month in western markets.

Spot earnings may have dropped 3% on Thursday to $125,700 per day out of the Middle East Gulf, but US Gulf to Japan numbers were steady at $118,300 per day.

Freight rates east of Suez look likely to have peaked after having traded at a premium, which historically does not last long, Fearnley Securities said.