‘All-you-can-eat buffet’ for asia LPG buyers

摘要

Singapore-The acute state of oversupply in Asian LPG markets can be best described by the Beatles song -”Here, There and Everywhere.” A steady influx of cargoes from the US, Iran’s aggressive move to push cargoes at competitive prices, slower-than-expected demand growth in China on the back of a sluggish economy and Japan’s inventory levels hovering at multi-year highs have all contributed to supply in Asia far outweighing demand, creating a glut not seen in recent years.