Wednesday, December 12, 2012

[Marine] VLGC market may tumble

VLGC market may tumble

As many as 13 newbuilding very large gas carriers are scheduled to hit the water next year.

This compares to just three newbuildings to be delivered in the whole of this year and three last year.

Banchero Costa Research warns VLGC market face a downward pressure in 2013.

Charter rates for 80,000CBM VLGCs have soared to $900,000 per month in 2012 on average, up from $550,000 per month in 2010, according to Banchero Costa.

Regarding newbuilding orders, “Whilst there is no reason to panic, more restraint from owners would be welcome,” it said.



Published : December 11, 2012

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