VLGC spot rates hit record highs

AI Summary

The spot rates for very large gas carriers (VLGC) have reached record highs, specifically noted on the Houston-to-Chiba route with significant daily earnings. This surge in rates could reflect fluctuating demand and supply dynamics in the energy market.

Very large gas carrier (VLGC) spot rates have surged to record levels, with benchmark freight on the Houston-to-Chiba route climbing to $290 per metric tonne and daily earnings spiking to almost $170,000 per day – the highest level ever recorded for the series, according to Clarksons Research. The record-breaking run has been driven by a …