Decreasing VLGC Rate Pushing LPG Vessels from East To West!

Decrease in VLGC freight rates in Asia and improving US rates are pulling ships to the West from the East.
VLGC rates on the Persian Gulf to Japan route have slid to near four and half-month lows of around $52/mt.
Houston to Japan route is holding near one-month highs of around $107/mt or more. The U.S. propane stocks hit more than nine-month highs at 83.3 million barrels for the week.
Market sources estimate shipments to arrive in Asia in September at around 2.3 million mt, a level that could...