Weight of Freight: VLGC troubles to persist through the rainy season at Panama Canal

As draught restrictions ease with the start of a much-awaited rainy season in the Panama Canal, difficulties are likely to persist for very large gas carriers (VLGCs) as other shipping markets move back to the route and escalate competition for transit slots.

Listen to Andres Pacheco, Analyst at the LPG Trading desk for Spain’s Repsol, and Yohanna Pinheiro, LPG Freight Market Reporter, discuss how increased competition to transit the Panama Canal and other market drivers will shape the costs of shipping LPG. 

Key topics covered

• Competitive advantages of the Panama Canal route in US-Asia routes for VLGCs
• Details of the Panama Canal booking system and slot auction price trends
• Effects of eased restrictions at the canal in heightening competition for slots among other markets
• Weather outlook and possible La Nina effects in the markets
• Long term projects to alleviate transits at Panama Canal