Live Updates > Live Update Details
2026-05-25 15:22:26
[Under the expectation of a US-Iran agreement, the primary task for the LPG market is to evacuate stranded ships] (1) Although a peace agreement between the US and Iran is expected, the Asian LPG market is cautious. The primary task at present is to evacuate the large LPG carriers stranded in the Middle East, rather than to restore full-line transportation in the Strait of Hormuz. (2) Before the outbreak of the conflict, about 21 very large LPG carriers passed through the strait every week. After the conflict, this number dropped sharply to 2-4 per week. Currently, there are still 9 such ships stranded in the Middle East, waiting for a safe passage window. The Indian Maritime Department is negotiating with traders and ship owners to clear safe evacuation channels for its own ships and cargo ships bound for India. (3) Industry insiders said that cargo routes are difficult to restore quickly, and there are still uncertainties regarding ship safety and insurance. Ship companies will not rush back before the situation is completely stable. In addition, the supply disruption in the Middle East has forced importers to broaden their procurement channels. Even if market sentiment recovers, buyers will not quickly refocus on purchasing Middle Eastern cargo.
