The proportion of US LNG exports taking the longer route around the Cape of Good Hope has increased in January due to drought-related restrictions at the Panama Canal and heightened tensions in the Red Sea. Of the total exports in the month, around 280,000 mt passed through the Panama Canal, 530,000 mt took the Cape of Good Hope route, and none used the Suez Canal route to the Red Sea. The shift in shipping routes is expected to continue this month as Red Sea tensions persist, potentially leading to tightened vessel availability in the coming weeks.

SOURCE:HELLENIC SHIPPING NEWS