Wednesday, November 7, 2012

[Marine] VLGC orders to shrink

VLGC orders to shrink

Very Large Gas Carriers' earnings have recently fallen to around operating costs level.

VLGC earnings soared to around $60,000 per day at one point this year but they are now hovering around just $10,000 per day.

Rates for a benchmark Saudi Arabia to Japan voyage are now around $38 per tonne.

Industry players expect newbuilding orders for VLGCs to dry up as well.



Published : November 6, 2012


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