LONDON, July 27, 2021 /PRNewswire/ -- Global energy and commodity price reporting agency Argus has launched 10 new freight price assessments for tankers transporting liquefied petroleum gas (LPG). These prices are a response to market demand for greater transparency in the growing and increasingly complex global trade in LPG, which comprises butane and propane.
The US continues to dominate the global LPG export market and increasing amounts are flowing from the US Gulf and Atlantic coasts to destinations in Europe and South America, driven by demand in the residential and autogas sectors.
Argus has worked with industry participants to develop prices that accurately reflect freight costs for LPG exports from the US to Brazil, Chile, Peru, Morocco and northwest Europe. Rates are available for very large gas carriers (VLGCs) and medium gas carriers (MGCs).
Argus has also launched VLGC and MGC freight rates on the Ras Tanura to New Mangalore route – Saudi Arabia to India – to support participants engaged in the swelling LPG trade between the Middle East and the sub-continent.
Argus Media chairman and chief executive Adrian Binks said: "The LPG industry seeks to better understand and manage its exposure to volatile freight costs. These assessments will help it by both improving overall transparency and providing necessary pricing tools on the growing trading volume from the US and the Middle East."
Argus contact information
+44 20 7780 4200
+65 6496 9960
+7 495 933 75 71
+1 713 968 0000
About Argus Media
Argus is an independent media organisation with almost 1,100 staff. It is headquartered in London and has 26 offices in the world's principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets and offers bespoke consulting services and industry-leading conferences.
Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.
Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders, global growth equity firm General Atlantic and Hg, the specialist software and technology services investor.
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SOURCE Argus Media