Ships queue to transit the Panama Canal
LNG freight must navigate chokepoints and bottlenecks
Rising LNG demand and supply risks are outpacing shipping logistics amid Panama and newbuild challenges
The gas and LNG markets have seen significant turmoil in recent years, from the slump of the pandemic to the fallout from the Ukraine war and inflation. The vital freight segment of the LNG market has not only not been immune, but is also facing its own unique issues—such as drought restrictions at the Panama Canal and a backlog of orders for new vessels. Freight rates have been “very healthy” for shipowners in 2023, according to James Allen, vice-president for LNG chartering and operations at US producer Cheniere, who said he expects rates “to come under pressure in 2024”. But the outlook is mixed, and a number of variables and risks could factor into determining LNG freight rates. Weather
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