VLGC fixtures from the US have hit an all-time high as buyers seek alternative supplies, driving spot rates to two-year highs of roughly 80.000
per day. This surge follows the effective closure of the Strait of Hormuz due to regional conflict, freezing Mid-East LPG exports and creating intense market uncertainty.
Over 21 VLGC fixtures were recorded in a single week, with brokers reporting record activity as charterers scramble to secure Atlantic cargoes.
The closure of the world’s most critical energy chokepoint has halted around 90% of oil traffic and forced significant disruption to LNG/LPG supplies.
VLGC rates from the US to Asia surged nearly 50% in one week, reflecting the heightened competition for tonnage outside the Middle East.
The market is dealing with limited immediate availability, making the US Gulf the primary alternative to Middle East supply.
