Epic Gas has seen its net deficit in the third quarter widen on the back of lower LPG rates.
The Singaporean company reported a net loss of $5m between July and September, against $0.3m a year earlier.
It explained that despite an ongoing demand growth trend for LPG, the third quarter proved to be tough due to summer seasonality and a lack of commodity arbitrage.
After a weak start, the quarter ended with a recovery in rate levels especially for the smaller pressure vessels, Epic Gas added.
Its time charter equivalent (TCE) for the period was $7,351 per day, against $8,798 in the same stage of 2015.
Epic Gas posted quarterly revenue of $31.1m, lower by $1.1m compared to last year and increased EBITDA of $8.6, up from $5.3m.
It noted that in some regions, including the Mediterranean, it saw increased petrochemical volumes push up its figures by up to 34%.
