Marc Holder’s Post

LNG tanker crossings through the Panama Canal have been picking back up in recent months, but remain below last year's highs. Graph shows laden crossings from Atlantic to Pacific by final delivery destination. Crossings through the Panama Canal dropped significantly late last year and early this year due to a lack of rainfall restricting water availability for the Panama Canal locks. This led to a reduction in the number of transit slots available and higher prices. The situation has been improving this year, though crossings remain below last year's highs. Most laden tankers going from the Atlantic to the Pacific are US cargoes heading to destinations in East Asia, such as China, Japan and South Korea. Suez Canal data: https://lnkd.in/eCNtz84g

Panama Canal transits drop 29% in FY2024 The Panama Canal saw a 29% drop in transits for FY2024, with 9,936 vessels compared to 12,638 last year, due to a severe drought that led to restrictions, particularly in late 2023. Container ship transits were least affected, while sectors like dry bulk and gas carriers saw significant declines. Neo-Panamax lock transits fell 21%, with gas and LNG carriers dropping sharply. Panamax locks saw a 32% decrease, mainly in dry bulk and general cargo. From October 1, the ACP introduced a new Long-Term Quota Allocation method for most segments, excluding LNG and LPG, to improve transit security and flexibility. Stay Informed: https://lnkd.in/eDuz25GF

#ULCC (Ultra Large Crude Carrier) Capacity: 320,000+ DWT (Deadweight Tonnage) Largest class of crude oil tankers Typically used for long-haul routes #VLCC (Very Large Crude Carrier) Capacity: 200,000 - 320,000 DWT Common for transporting crude oil from the Middle East to Europe and the Americas #Suezmax Capacity: 120,000 - 200,000 DWT Maximum size that can transit the Suez Canal fully loaded #Aframax Capacity: 80,000 - 120,000 DWT Commonly used for shorter regional routes Can navigate through smaller ports and channels #Panamax Capacity: 60,000 - 80,000 DWT Maximum size that can transit the Panama Canal fully loaded #Handysize Capacity: 10,000 - 60,000 DWT Smaller vessels for more restricted waterways and ports #Coastal Tankers Capacity: Up to 10,000 DWT Used for coastal and regional transport of crude oil and refined products Each vessel class has its advantages and limitations based on size, draft, and maneuverability, optimized for specific trade routes and port accessibility. International Energy Agency (IEA) Full details: https://lnkd.in/dhsXMTs8

📍#ShippingNews📍 ✅ The Panama Canal’s profit increased about 9.5% 📈 in the fiscal year ended in September to 💰3.45 billion despite a severe drought that reduced the number of vessels that passed through the waterway ✅ Adverse weather conditions that reduced water available 🌪 for the canal to operate forced the authority to cut the number of ships authorized to pass per day 📉 between late 2023 and early 2024, while limiting their maximum draft allowed. ✅ A 5% reduction in operational costs helped the canal to ease the effect of the drought over its finances 🎯. Revenue increased by $18 million to $4.99 billion 📈. ✅ The canal, which is not yet filling the 3️⃣6️⃣ passage slots per day it is offering, plans to add incentives for some vessels to return, including bulk carriers 🚢. 📌 Source : GCaptain #lng #lngindustry #lngshipping #lngbunkering #gtt #mossdesign #naturalgas #shipping 

At least 11 LNG carriers have likely diverted to Europe from Asia and Egypt over the past week, as European delivered prices now offer higher returns than Asian delivered prices, and operational issues delay deliveries in Egypt. One of these cargoes had already passed the Cape of Good Hope en route to Asia before heading back to the Atlantic. Read a summary of these diversions, including details on cargo boil-off opportunity costs for free here: https://lnkd.in/g2Rtk3Qs

📉 Panama Canal Sees 29% Decline in Transits for FY2024 📊 The Panama Canal has reported a significant drop in transits for FY2024. This decline poses challenges for global shipping routes and logistics. Various factors contribute to this downturn, including economic conditions. Stakeholders are closely monitoring the canal's performance moving forward. 🔗 https://lnkd.in/eHS2JXyu #Operations #NorthAmerica #Shipping #Logistics #Economy

Here’s the latest from the drought-stricken Panama Canal: Total transits finally increased month-on-month in March, the first time this has happened since July 2023. But to put this in context: transits are still far below where they were at this time last year and in 2022, and far below where they were in October 2023, just prior to the new reservation slot restrictions kicking in. See story (free to read) for data derived from ACP disclosures on transits via Neopanamax vs. Panamax locks, and for transit data by ship type, including container ships, tankers, dry bulk, LPG and LNG: https://lnkd.in/esUHR-iY

“Real charter agreements could emerge where owners let out a vessel at a headline rate of or close to zero for a short time,” said Clare Pennington, LNG shipping expert at commodity consultancy ICIS. “What could happen is a situation where some owners are stuck with a steam vessel and are balancing the cost of [taking it off market] or letting it out so it doesn’t warm up. “It will also depend on how long owners might have to wait to scrap a vessel, and making calculations on what costs them less,” she said.

🔴 Red Sea Update: Bab El Mandeb Transits Continue To Decline But Slight Uptick For Suez Canal 🔴 Key data from Lloyd’s List Intelligence for the week ending March 10, 2024: ➡ Total transits through the Bab el Mandeb strait were down 12% in the week ending March 10 ➡ The number of bulk carriers transiting the strait continues to slide with just 83 recorded, while no LNG carriers have risked the transit for seven weeks ➡ The daily average of vessels active in the Red Sea is relatively stable with 215 vessels recorded, up by around 2% on the previous week ➡ Suez Canal transits increased 4% compared to the previous seven days, led by notable uplifts in containerships and product tankers ➡ Transits by vessels around the Cape of Good Hope were down 3% compared with last week but are still up 80% against the normal average and 98% higher compared with the same week last year Numbers reflect cargo-carrying vessels of 10,000dwt+. Pre-Houthi attack ‘normal’ average taken for the period November 6 - December 3, 2023. Read more below in our latest blog 🔽 https://lnkd.in/es7i3zWB

Key data from Lloyd’s List Intelligence for the week ending March 10, 2024: ➡ Total transits through the Bab el Mandeb strait were down 12% in the week ending March 10 ➡ The number of bulk carriers transiting the strait continues to slide with just 83 recorded, while no LNG carriers have risked the transit for seven weeks ➡ The daily average of vessels active in the Red Sea is relatively stable with 215 vessels recorded, up by around 2% on the previous week #redseacrisis #vesselmanagement #maritime