Weight of Freight: Canal dilemmas push VLGC freight the long way round

Rising tensions in the Red Sea forced VLGCs away from the Suez Canal in a second shock to US-Asia-Pacific LPG trade only two months after the Panama Canal imposed its tightest-ever transit restrictions, adding even more instability to an already volatile market. Listen to Oystein Kalleklev, CEO of Avance Gas and Flex LNG, and Yohanna Pinheiro, LPG Freight Market Reporter, discuss how diverting around the Cape of Good Hope and other market drivers will shape the costs of shipping LPG this year and beyond.

 

Key topics covered in this podcast:

• Panama Canal restrictions' ongoing impact on freight markets
• Rising tensions in the Red Sea and diversions via Cape of Good Hope
• VLGC orderbook and long-term outlook
• ETS impact on VLGC freight
• Avance Gas' fleet renewal programme 
• Ammonia freight and new markets