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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
LNG shippers are likely to engage in more destination swap deals for Asia-bound cargoes in 2024, to circumvent the congestion at the Panama Canal, according to BNEF.
- LNG ships will lose their priority slot to use the canal and with no auctions from the Panama Canal authority to use slots from Jan onwards, limiting LNG transits.
- This will prompt shippers with US cargoes headed to Asia to redirect and seek alternative supply for their customers in the Pacific.
- Japan and South Korea are the top Asian destinations for US tonnes, taking 90% of monthly US volumes which pass through the Canal for North Asia, BNEF said. They are most likely to arrange destination swap deals for their supply.
- China is set to see its arrivals from the US jump from late 2024 as 15m mtpa of new contracts come online from 2024-2026.
Source: Bloomberg
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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