|  Clifton Linton

LPG Tank Car Short-Term Lease Rates Rise As Propane Heating Demand Jumps On Colder Weather

Spot liquefied petroleum gas (LPG) tank car lease rates firmed in a quiet week between the Christmas and New Year’s holidays as lease rates were supported by news of cold weather in mid-December and the expectation for another wintry blast in early January. Single-trip leases ranged from $400/car/month to $800/car/month. The $800/car/month rate was booked in Alberta, Canada where demand for tank cars has been strong as suppliers scramble for cars to deliver product to customers. The $400/car/month deal was done in the U.S. where tank car demand has been lighter since supplier demand for cars is lighter. The winter heating season is at the midpoint. Th...

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