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LNG Cargoes Transit Cape of Good Hope as Panama Canal Avoided Still

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Initial data indicates that June showed another record for LNG cargoes transiting through the Cape of Good Hope shipping route, according to Gelber & Associates.

  • LNG traders shipping to the high-priced LNG markets in Asia continue to avoid the Panama Canal.
  • Just 3 tankers passed through the route last month compared to 35 via the Cape of Good Hope.
  • Panama Canal’s authority last week announced an additional booking slot for cargoes as previous constraints due to low water levels have eased.
  • The Panama Canal recovery is unlikely to restore the number of LNG transits of the choke point with no priority booking for LNG carriers, according to BNEF last week.
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Initial data indicates that June showed another record for LNG cargoes transiting through the Cape of Good Hope shipping route, according to Gelber & Associates.

  • LNG traders shipping to the high-priced LNG markets in Asia continue to avoid the Panama Canal.
  • Just 3 tankers passed through the route last month compared to 35 via the Cape of Good Hope.
  • Panama Canal’s authority last week announced an additional booking slot for cargoes as previous constraints due to low water levels have eased.
  • The Panama Canal recovery is unlikely to restore the number of LNG transits of the choke point with no priority booking for LNG carriers, according to BNEF last week.