VLGC earnings are on the rise as the US floods northern Europe with exports, analysts say.

The Baltic Exchange’s spot freight rate from the Middle East to Asia hit $65.10 per tonne or $41,300 per day on Monday, up 10% over the past seven days and 46% up in a month.

And rates were $46,500 per day from Houston to Chiba in Japan, a rise of 9% from last week and 61% month on month.