Panama congestion bodes well for VLGC demand

September 2021

LPG in World Markets

LPG vessels have been frequent callers at the Panama Canal’s new locks since they were opened in the second quarter of 2016. Between January and August 2021, around 25% of the total transits through the new locks were by LPG vessels, second only to container vessels. Although the share of LPG vessels transiting through the new locks declined year-on-year, the absolute number of transits increased from 549 transits to 563 transits during the same period as overall traffic recovered following last year’s slowdown due to Covid-19.

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