Shipping consultancy Drewry believes that the next 12 months will be tough for the very large gas carrier (VLGC) market.
- In its latest LPG Forecaster report it states that VLGCs will continue to face difficult times and a recovery phase will not begin until the second half of 2018.
- Second hand VLGC values have not dropped as sharply as the freight market and are trading at a high multiple to vessel earnings.
- Shresth Sharma, senior analyst for gas shipping at Drewry, believes that there is more downside risk to second-hand values of VLGCs and expects second-hand prices of VLGCs to correct by another 5-8% over the next year.
Read more on the press release.
Fathom-News
editor@fathom-mi.com
