Short-term lease rates for liquefied petroleum gas (LPG) tank cars spiked this week with car owners raising their offers as cold weather covered Canada and the U.S.
Three-month leases were running from $500/car/month for cars in the southern U.S to a range of $800/car/month to $1,000/car/month in Alberta, Canada.
Actual leasing deals have been light, note market observers. Market participants appear to trying to make the best of the equipment they have on hand. One market source said he has not tested the lease market but instead is pulling some of his tank cars out of storage.
The market for longer-term leases has been fairly steady o...