Liquefied natural gas (LNG) vessels have been waiting longer to pass through the Panama Canal in recent weeks, tightening an already stretched shipping market and creating logistical issues for U.S. LNG exports at a time when global gas prices are moving higher. 

“There is no doubt that this has created some headaches in LNG trade,” said Gonzalo De Arteaga, a senior LNG adviser at Norwegian shipbroker Fearnleys AS. He told NGI that wait times for LNG vessels hit their highest point ever at nearly 15 days late last month. 

A variety of factors have combined to create longer lines at the canal, a vital passage for LNG and other goods to make their way to Asia. Eero Vanaale, a London-based analyst at shipbroker Braemar ACM, said the delays are primarily related to LNG vessels...