VLGC EARNINGS LOWEST SINCE 2009

摘要

Spot rates for VLGCs dwindled in April withrnvessel earnings hitting their lowest level sincern2009. The rate for VLGCs on the benchmarkrnAG-Japan route averaged $22 per tonnernin April, down 20% and 31% month onrnmonth and year on year respectively. Vesselrnearnings also reduced to $2,200pd on thisrnroute - lowest since July 2009. Productrndemand was seasonally low from Asianrnbuyers, China, in particular, having sufficientrnstocks at its terminals. Meanwhile, therernwere several vessel relets by traders in thernspot market, which amplified the supply.rnConsequently, shipowners were competingrnintensely to secure cargoes, squeezingrnthe rates. Apart from the decreasing spotrnrates, high bunker prices are to be blamedrnfor this severe pressure on vessel earnings.rnThe IFO 380 bunker price in the MiddlernEast averaged $435 per tonne in April, 37%rnhigher year on year.