Volatility in the dry bulk and crude oil tanker segments is “far higher” than in LPG shipping, Greece’s StealthGas claims.
Handysize LPG carriers can now earn around $7,000 per day, as much as a 300,000 dwt very large crude carrier or a 180,000 dwt capesize bulk carrier at present, which cost a lot more to build or buy, StealthGas chief executive Harry Vafias said.
In contrast to large orderbooks in the dry bulk and tanker sectors, small fleet growth in the LPG sector will improve the market further, Mr Vafias forecast.
In line with this projection, there are 120 LPG carriers on order of all sizes out of a global fleet of 1,193, representing an orderbook of 10% of the fleet, according to data from London-based shipbrokers Clarksons.
By comparison, there are 1,275 tankers of all sizes out of a global fleet of 7,859 – an orderbook of 16% of the fleet, Clarksons’ data shows.
There are 2,989 dry bulk carriers on order out of a fleet of 8,405 – showing that 36% of the fleet is on order.
“The outlook for our sector is the best among all other shipping segments,” said Mr Vafias.