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LNG carriers: Hires rates will continue to stay low till 2018
May 17: Spot prices for the VLGC hire market -- some that Indian LPG importers need to look out for - started at a new low in 2017 but seems to have picked up speed of late and are now hovering at around the same levels as were prevalent in 2016.
8These spot rates are still below the $ 20,000/day mark.
8The industry continues to exude severe stress symptoms and the market will remain highly challenging in 2017 and 2018 and are likely to stay below cash break-even levels.
8New ships continue to be added but the order book beyond 2017 is lower and this likely to contribute to improved freight market from 2018 onwards.
8It is pertinent to note that prices had once reached over $ 120,000 per day in 2015
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