Modest Improvements in the Gas Fleet

摘要

July 2009 was definitely a more exciting month than June, but in fact that did not take much. Nonetheless we were pleased to see that activity as well as rates finally picked up this summer month.rnDuring a fortnight in the middle of July a fixing "rally" took place - this was made possible by MEG exporters' unexpected but most appreciated spot sales of LPG cargoes.rnOver the month, or rather in the first half, the Baltic VLGC freight index rose from USD 22 to 25 - in second half the index remained rather stable in the mid USD 20's pmt. The July Baltic average was just under USD 25 pmt, by far the highest in 2009 and the highest since the VLGC misery began in September and October last year.