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LPG Shipping Costs At Record Levels

FREIGHT

LPG shipping costs are rising to record highs, due to strong seasonal demand and congestion in the Panama Canal, Bloomberg data show.

  • Shipping a 44k t VLGC from the Middle East to Asia costs around $146/t, the highest level since the start of publishing in 2002.
  • Rates to ship LPG from the US to Japan rose to $200/t, doubling from this summer.
  • Three-day wait time averages for VLGCs to transit the Panama Canal were at 8.4 days on 6 Nov, amid congestion. It has since been declining to just under six days.
  • Extended waiting times will weigh on the availability of vessels at US loading ports, supporting LPG freight prices.
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