Last year, liquefied petroleum gas (LPG) supplied to Asia was being snapped up by petrochemical makers. Now, after a flood of U.S. exports into the region, the market is awash with LPG and supplies are being stored in ships anchored off Singapore. At least four Very Large Gas Carriers (VLGCs) are parked off Singapore, including the “BW Carina” and “Berge Nantong”, both of which have been there for at least a week, shipping data carried on Thomson Reuters Eikon showed. Some of the vessels are expected to stay until September, traders said. Middle East supply is also high with at least four other vessels, of between 53,000 and 59,000 deadweight tonnage, provisionally booked to load LPG from Qatar, Yanbu and Ras Tanura, according to shipping sources. There are options […]