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Increased Panama Slots Unlikely to Restore LNG Transits: BNEF

LNG

The Panama Canal recovery is unlikely to restore the number of LNG transits of the choke point, according to BNEF.

  • Daily Neopanamax slots will surpass the early 2023 level of nine from Aug. 5 prior to drought after the water level at the Gatun Lake rose during the rainy season.
  • The Panama Canal Authority said June 26 that recent rains boosted water levels, allowing heavier ships with larger cargo loads to transit via the Neopanamax locks.
  • However, the privilege where LNG carriers used to have priority for daily slots, which could be booked 30-15 days before transit hasn’t been reinstated.
  • Reserving a transit slot at the waterway faces uncertainties with LNG players likely having outbid peers for a daily auctioned slot seven to two days before transit.
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