VLGC sale and purchase activity heats up

16 May 2018:

Recent resale transactions for second hand VLGCs have boosted liquidity in the sale and purchase (S&P) market so far in 2018. Following three years of relative inactivity, at least five VLGCs have already changed hands this year in addition to a third sale leaseback deal executed by Dorian LPG.

A summary of the deals done this year can be seen in the table. It is notable that four of the five VLGCs have been purchased by buyers in China, Indonesia and India, countries which are expected to see compound annual growth rates (CAGR) of 4% each for seaborne imports between now and 2025. At the end of March, Dorian LPG also confirmed that it entered into a $70 million sale and bareboat charter agreement for the Corvette, although this is excluded from the table below.

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