Traders Hoard LPG Off Singapore Coast

LPG-carrying vessels are piling up off the coast of Singapore as traders await higher prices, Reuters reports, citing industry insiders. According to tanker tracking data from Thomson Reuters, there is currently one Very Large Gas Carrier loaded with LPG off the Singapore coast, and it has been floating there for five days. Another VLGC, the sources told Reuters, recently set for China after floating for a few days in Singapore waters. Last August, as many as 10 vessels loaded with LPG sat floating off the coast of Singapore for months due to an…