Fra Pareto Shipping Daily....Baltic LPG down 4.2%, in what is proving to be a much more challenging spring than most thought. VLGC rates under constant pressure – somewhat disturbing Development. No change in the MEG this week, with still very quiet markets pushing the Baltic Index further down. Current level of USD 22.1/ton equates to around 6,800/day on our estimates, and we further hear of trader relets at even lower levels. With more trader relets available through April there is limited reason to expect rates improving in the near term, and consequently we will see significant downward adjustments to both Q2 and full year 2018 estimates  Quiet in the west, with two reported spot fixtures this week – at slightly higher levels than the Baltic. With ample vessel availability it rates are unlikely to increase rapidly even if trading conditions were to improve on the back of falling Mt. Belvieu prices  The main talking point this week has of course been the potential propane tariffs from China, which would impact 25% of its total imports. Most likely there would simply be a reshuffling here, with other Asian importers then taking the “lost” Chinese imports out of the US – while China would take surplus Middle Eastern volumes. However – there is also a fear that Chinese PDH economics would be hurt in the medium term – potentially reducing demand which would be a negative