Photo: Panama Canal in LNG trio milestone
The Panama Canal Administration said it transited three liquefied natural gas (LNG) vessels through its Neopanamax locks on April 17, marking a first for the waterway.
On Tuesday, the Panama Canal transited the Clean Ocean, Gaslog Gibraltar and Gaslog Hong Kong LNG vessels, which first arrived at the canal from the Pacific Ocean and transited north, departing on the Atlantic side.
The development marks a significant milestone for the Panama Canal and its service of the burgeoning LNG segment – which began transiting the waterway for the first time following the inauguration of the expanded canal in July 2016, the Panama Canal Administration said in a statement.
The segment has seen steady growth in the nearly two years since.
Currently, the Panama Canal offers one of the seven Neopanamax reservation slots available per day to LNG shippers specifically, which currently average five transits per week.
However, during periods of high seasonal demand, the waterway has transited two vessels in one day on 14 separate occasions. In this fiscal year, as of March 2018, the canal has locked 134 LNG transits, the statement said.
As demand from the LNG segment continues to grow, the canal “remains committed to meeting the needs of its customers and taking the necessary steps to increase capacity commensurate with demand,” it added.