Baltic rate plummets

LPG in World Markets

June 2020

The Baltic rate started the year on a great note and the weekly average of the benchmark Ras Tanura-Chiba assessment recorded five-year highs (2016-2020) during the first 14 weeks of 2020. Since the index witnessed five-year lows during Jan-Feb 2019, it gained support and was able to sustain the momentum for more than a year largely due to a mix of healthy LPG supply-demand fundamentals and weather-related delays leading to intermittent tightening of prompt vessel supply in key regions.

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