LPG carriers market review 1Q24
The supply of LPG carriers seems oversaturated, considering the composite order book of 23%. However, we must look closer. The VLGCs (Very Large Gas carriers) have a higher order book (30%) than the number of ships older than 20Y (14%).
20Y is the average economic life of a cargo ship. Of course, that number fluctuates. During the expansion phase of the …