Panama Canal Expansion Good for Japan’s LNG Imports
The Panama Canal Expansion will open new possibilities for the shipments of liquefied natural gas (LNG) through the waterway, enabling Japan to import LNG from the U.S. Gulf Coast, it was said during a meeting of Panama Canal delegation and Japanese shipping industry representatives.
A Panama Canal delegation headed by Administrator Jorge L. Quijano visited Japan to hold discussions with the Japan Shipowners’ Association (JSA) and the major Japanese shipping lines, as well as end customers such as Japanese car manufacturers and energy sector companies.
The Panama Canal held meetings with stakeholders in the LNG sector such as Astomos Energy Corporation, Tokyo Gas and Japan Coal Development Co. Ltd. (JCD).
“It is important to maintain close contact with our customers,” Quijano said, adding that the Canal Authority plans to visit US and European customers next year.
“The Panama Canal strives to have face-to-face meetings with our customer base,” Quijano said. “We aim to be more accessible to our clients, to understand their needs and implement systems that support the service we offer.”
Japan is among the top five user nations of the Panama Canal, as a major importer of grains from the US Gulf Coast and exporter of vehicles to the North American consumer market.
Japan’s top three shipping lines: Nippon Yusen Kaisha Line (NYK), Mitsui O.S.K. Lines (MOL) and Kawasaki Kisen Kaisha Line (K-Line) rank among the top 20 customers of the waterway.
The delegation also had the opportunity to meet with the Japan Bank for International Cooperation (JBIC) to discuss the progress of the Expansion Program. JBIC is one of the five multilateral institutions providing financing for the expansion.