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BW LPG sees positive medium-term outlook for VLGC ratesBW LPG sees positive medium-term outlook for VLGC rates

BW LPG is positive on the medium-term outlook for the VLGC market despite recent falls in rates.

Marcus Hand, Editor

March 1, 2021

1 Min Read
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Photo: Wartsila

In its fourth quarter results statement BW LPG said that following V-shape recovery in VLGC rates in Q3 and Q4 last year with a peak of over $100,000 per day rates had come down significantly in late January. The shipowner expects rates to remain under pressure in the second quarter.

However, the company sees an improvement further out and BW LPG said: “Despite the recent correction in VLGC freight rates, we continue to hold a positive outlook for the medium term VLGC market.

“This is driven by continued high shipping inefficiencies, resilient US LPG production, gradual recovery in Middle East Production and strong underlying demand for LPG.”

BW LPG has fixed approximately 81% of spot and time charter days in Q1 at an average rate of $41,000 per day.

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BW LPG

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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