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LNG shippers are not tempted by extra slots at the Panama Canal, and remain set on transiting the Cape of Good Hope route to reach Asian markets, S&P Global reported last week. LNG vessels will still face added restrictions despite the boosted slots, but shippers also don’t see a need to transition away from Cape of Good Hope because the route is “cheap enough,” a European shipbroker told the outlet. Unlike traders, importers which keep LNG cargoes for domestic use, such as South Korea and Japan, may turn to the new slot, another Asia-based broker said. The Cape of Good Hope is particularly liked by US LNG exporters, with 18 shipments transiting so far in April, compared with just 3 in April of last year, the outlet also said.
ICYMI- The Panama Canal Authority announced plans to increase daily slots to 32 ships per day between mid-April and June, last week.
