Suspension at Saudi Arabia's Juaymah Terminal at Ras Tanura, triggered by Middle East Gulf tensions, has pushed Far East propane and butane swaps to their highest levels since February 2023, signaling near-term LPG supply tightness. VLGC operators and LPG shippers should actively assess rerouting cargo procurement toward USGC origins, accepting longer voyage distances and higher freight costs. Far East buyers face compounding pressure from both commodity price spikes and elevated tanker rates in the coming weeks.
Rate Direction
Rates up +20.00%
Time Horizon
weeks
Confidence
65%
Routes Affected
Persian Gulf / Strait of Hormuz / Indian Ocean
Ports / Terminals
Ras Tanura / Juaymah Terminal / Fujairah
Source
https://www.hellenicshippingnews.com/vlgcs-could-turn-to-usgc-as-lpg-supply-tightens/published 04 Mar 2026, 11:00 UTC