SUMMARY Very Large Gas Carriers transport ethane, natural gas and LPG. There are several companies that operate these VLGC vessels as part of global oil & gas trade. But the industry has witnessed very bad performance in the last 2-3 years with spot prices dipping to all time lows. Dorian LPG is one such carrier which had to register loss in the period. However, the conditions have changed to open an arbitrage window as US LPG is price competitive even with shipping costs included. Spot prices for VLGCs have climbed to $60,000 per day, a multi-year high and multi-fold rise…
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