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LNG Shipments Through Canal Is a Boon, But Long Transit Delays Result In Suez Canal Emerging As Alternative


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Suez Canal emerges as Panama alternative for US LNG

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US LNG exports rise mn t LNG
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https://www.argusmedia.com/en/news/2176633-suez-canal-emerges-as-panama-alternative-for-us-lng

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Panama Canal Transit Sees 10 Day Delays

essels transiting through the Panama Canal have are now experiencing up to 10 day delays as the industry struggles to understand the cause and find a solution to the deteriorating conditions. According to the Journal of Commerce, adverse weather conditions and repairs to the existing locks are contributing factors. What is certain is that carriers have begun to take more aggressive steps, such as canceling some sailings through the canal to try and reduce the backlog of vessels. The average transit time through the canal is 24 to 30 hours which means that current conditions must improve considerably before the situation returns to normal. Congestion started to build in mid-October. Currently, there are over 20 vessels awaiting transit through the canal.

Shapiro will continue to monitor canal conditions and will provide updates on continued delays and vessel cancellations.

Shapiro is also available to help customers design alternate routings.

 

https://www.shapiro.com/alerts/panama-canal-transit-sees-10-day-delay/

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  • Moderator_02 changed the title to Long Delays For Panama Canal Transits Result In Suez Canal Emerging As Alternative For US LNG Shipments
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LNG  demand a boon for Canal

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Posted 24/01/2021

The price of liquefied natural gas (LNG ) has skyrocketed since 2020  to the benefit of the Panama Canal as major Asian countries like Japan,  South Korea,  China and Taiwan seek supplies to generate power.

It has also been reflected in the daily rental cost of the vessels that transport LNG, which has generated a great demand for transport, an aspect that favors the Panama Canal as the shortest maritime route between the production sites in The United States and consumer markets in Asia.

For much of 2020, LNG was selling for $ .00 per million caloric unit (BTU), because of low consumption due to the pandemic.

But, by the end of 2020 and January 2021, both the price of LNG and the daily vessel rental skyrocketed up to tenfold, to $20 per million BTUs and $350,000 daily for a vessel rental. The high demand should last until March when winter ends, and the price of LNG is expected to fall.

 

https://www.newsroompanama.com/business/lng-demand-a-boon-for-canal

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  • Moderator_02 changed the title to LNG Shipments Through Canal Is a Boon, But Long Transit Delays Result In Suez Canal Emerging As Alternative

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