Singapore LPG carrier owner Epic Gas has been hit by demand "headwinds" as it fell into the red in the fourth quarter.

The company said the net loss to 31 December was $1m as utilisation fell, against a profit of $0.9m in the same period of 2018.

Chief executive Charles Maltby said: “During 2019, the macro trends of increasing global supply of LPG, especially from North America, saw the global LPG seaborne trade increase by 5.3%