Key report takeaways:

• Global LPG loadings this year have soared above historical highs contrasting against slowing demand

  • US summer LPG stock building has begun as rising production meets saturated demand, limiting exports

  • Higher Middle East exports are further adding length to the market, despite declining supplies from Iran

• Asia’s imports have been healthy so far this year, but weak petchem demand will cap upsides. Similarly, Europe’s import appetite is waning as seasonal heating demand fades

• Our newly released Panama Canal weekly report highlights an increase in Southbound Neopanamax vessels waiting to transit the Panama Canal in April. Daily transits allowed are gradually rising, significantly reducing VLGC utilisation with fewer Cape of Good Hope diversions