VLGC giant BW LPG has painted a positive picture of the freight market despite earnings dipping from record levels at the start of 2024.

Oslo-listed BW LPG booked the highest VLGC rates in its history in 2023, setting new TCE benchmarks in the first and fourth quarters at $60,900 and $76,000 per day respectively.

VLGC rates have since enjoyed a turbulent start to 2024.