Suez Canal

U.S. LNG Through Panama Canal Continues to Drop Despite Rising Asian Demand

U.S. LNG Through Panama Canal Continues to Drop Despite Rising Asian Demand

While shippers await a possible easing of congestion at the Panama Canal in the coming weeks, the volume of U.S. LNG heading through the key route has fallen to a record low. Under normal conditions, the canal provides the fastest roundtrip voyage from the Gulf Coast to Japan at roughly 49 days. However, persistent drought…

May 15, 2024
Global Natural Gas Prices Expected to Remain Muted Despite Roiling Volatility – LNG Recap

Global Natural Gas Prices Expected to Remain Muted Despite Roiling Volatility – LNG Recap

The tensions ratcheting up in the Middle East have left the Suez Canal devoid of LNG carriers to start the week, adding shipping lags and costs to cargoes for possibly the rest of the winter. However, the global natural gas market appears locked into a downward spiral as forecasts point to weaker price dynamics through…

January 22, 2024
Naval Force Mobilizing to Stop Red Sea Attacks Eases Natural Gas Supply Concerns in Europe

Naval Force Mobilizing to Stop Red Sea Attacks Eases Natural Gas Supply Concerns in Europe

European natural gas prices retreated on Tuesday after the United States announced an international naval force to protect commercial and energy cargoes transiting the Red Sea. The Title Transfer Facility erased the gains it made Monday amid escalating tensions in the Middle East. The prompt month contract fell 8% to close at $10.47/MMBtu, its lowest…

December 19, 2023
Middle East Shipping Chokepoint Pushes Global Natural Gas Prices Higher – LNG Recap

Middle East Shipping Chokepoint Pushes Global Natural Gas Prices Higher – LNG Recap

Global natural gas prices bounced back Monday, lifted by escalating tensions in the Middle East, where increasing attacks in the Red Sea have impacted commercial shipping operations.  BP plc joined a growing list of major shipping companies in announcing that it would halt all of its oil and natural gas cargoes in the Red Sea.…

December 18, 2023

U.S. LNG Exporters Seek Alternative Routes to Asia as Panama Canal Bottleneck Worsens

A persistent drought impacting the Panama Canal has left LNG shippers with a few alternatives; either wait for weeks in a growing queue, pay exorbitant prices to jump the line or take a long detour. The water levels at Alajuela and Gatun, the two artificial lakes that supply water to the canal, have continued to…

November 15, 2023
Suez Canal Collision Causes Slight Delays for U.S. LNG Cargoes Shifting Away from Panama

Suez Canal Collision Causes Slight Delays for U.S. LNG Cargoes Shifting Away from Panama

A collision of two vessels in the Suez Canal hasn’t disrupted LNG traffic between the Atlantic and Pacific basins, but slight delays on the critical waterway could help add to shipping times as U.S. cargoes continue to shift from the Panama Canal. The Suez Canal Authority reported Wednesday a stop in traffic on the channel…

August 25, 2023
Increase in Suez Canal Transit Fees Unlikely to Impact LNG Trade Flows

Increase in Suez Canal Transit Fees Unlikely to Impact LNG Trade Flows

Egypt’s Suez Canal Authority (SCA) is increasing transit tolls next year, adding to the costs associated with shipping LNG and other fuels through the key trade route. Fees will increase by 15% for tankers carrying oil and petroleum products, and by 10% for dry bulk carriers and cruise ships. “I don’t expect the Suez canal…

September 22, 2022
LNG Carriers to Avoid Suez Transit Toll Hike

LNG Carriers to Avoid Suez Transit Toll Hike

The Egyptian government’s Suez Canal Authority (SCA) reported it plans to soon raise tolls on ships transiting the key waterway linking the Mediterranean and Red seas — with two notable exceptions: cruise ships and liquefied natural gas (LNG) carriers. According to SCA, the 6% hike year/year takes effect in early Feb. 2022. Cruise ship and…

November 15, 2021
Backlog at Suez Canal Clearing, with Few Impacts Seen on LNG Trade

Backlog at Suez Canal Clearing, with Few Impacts Seen on LNG Trade

The backlog of vessels at the Suez Canal was dwindling Thursday after a massive container ship was freed following a week-long blockade, and little impact was seen — for now — on the global liquefied natural gas (LNG) trade. As of Thursday, about 250 ships had transited the canal since Monday (March 29), down from…

April 1, 2021
European Natural Gas Prices Fall After Ship Freed from Suez Canal — LNG Recap

European Natural Gas Prices Fall After Ship Freed from Suez Canal — LNG Recap

A salvage team on Monday finally dislodged the massive container ship that’s been stuck in the Suez Canal for nearly a week, clearing a path for hundreds of vessels to begin transiting the crucial waterway. Aided by the tides, nearly a dozen tugboats refloated the 1,312-foot-long  Ever Given which slowly made its way through the…

March 29, 2021
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