TOKYO — The cost of shipping liquefied petroleum gas (LPG) has reached the highest level in over a year after Chinese tariffs on American LPG increased demand for long-haul carriers.
Tensions in the Middle East have added to the price pressure. The spot rate for very large gas carriers (VLGCs) between the Middle East and Far East reached $89 per metric ton on Monday, the highest level since May 2024.
