Rates to ship liquefied petroleum gas (LPG) from the Persian Gulf to Asia Pacific fell below USD100/tonne, as more vessels were available in loading ports last week. As of 23 March, the Baltic Exchange assessed the Gulf-Asia Pacific rate at USD96.438/tonne, down USD2.437 from 20 March. At current bunker prices in Fujairah, that gives daily earnings of about USD94,000. A Singapore-based broker told IHS Maritime, "We anticipate rates for loading in early April will come under pressure and owners are thinking of ballasting to the US Gulf as vessel supply is tighter there." Orders for dry bulkers plunged 66% year-on-year in February as the Baltic Dry Index fell to a historic low, curbing investment. Statistics from Greek broker Golden Destiny show 37 bulkers, totalling l,928,933dwt, were ordered in February, down from 108 in the same month in 2014. Chinese yards took 84% of the bulker orders last month, in dwt terms,, with strong activity in the Handymax and Ultramax sectors (28 orders). Japanese yards won six Handymax orders, with no bulker orders for South Korean yards.
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