Spot rates for very large gas carriers (VLGCs) have surged to a multi-year high as rising US propane exports also boost earnings for smaller LPG carriers.
Shipping analysts at Fearnley Securities estimate that the Baltic Exchange's latest VLGC rate assessment translates to timecharter equivalent (TCE) earnings of about $73,000 per day.
That's the highest rate in four years, the analysts said Friday.
