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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
The additional daily slot for larger locks announced by the Panama Canal Authority will do little to boost LNG traffic through the waterway, according to BNEF.
- BNEF estimates that a return USGC-North Asia journey through the Panama Canal will save just 16 cents/MMBtu compared to the journey via the Cape of Good Hope.
- Spot charter rates are as low as just $34k/day.
- Unless the shorter journey is needed for operational reasons, there is little incentive to use the Panama Canal.
- An extra daily slot is available for Neopanamax locks from June 1, returning Neopanamax transit openings, to Nov. 2023 levels.
- The added opening can be booked 14-8 days ahead, but container ships have first preference.
- Winning bids at January slot auctions were 90% below November’s peak, and US LNG shipments via the Canal hit zero in Feb and two in March.
Source: BNEF
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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