Volatile VLGCs climb from cold crash
VLGC rates gain over the past two weeks after cratering at the year’s onset
Freezing US temperatures narrowed the US-Asia propane arbitrage as the year started and had a chilling effect on VLGC spot rates, which hit their lowest levels in nearly two years early in February. But not so the past two weeks, with Jefferies assessing rates at around $40,000 per day globally, driven by higher US export volumes