VLGC spot rates have surged too high, too quickly, brokers warn

VLGC spot rates have risen too far and too fast, with earnings not backed up by gas price gaps, brokers believe.

Freight levels have fallen a little from last week as a result, but remain at $52,000 per day from Saudi Arabia to Japan, and $46,000 per day from the US into Asia.

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Rates briefly hit $60,000 earlier this week.