LNG

The Panama Canal Authority has further reduced ship transits because of drought blamed on the “El Niño” weather effects to 24 vessels in November and booking slots will be cut to 22 ships in December, hitting LNG, oil and containership traffic on the Atlantic-Pacific Basin crossings and sending bidding for slots up to $2 million or more as waiting times grow to more than a week.

The Panama Canal Authority has issued further restrictions for the maximum authorized draft in locks for the Neopanamax-sized and Panamax-sized vessels, including LNG carriers, as it faces drought conditions that are challenging the modernized Canal’s capacity and draft allowances for larger ships now being constructed.

May 26 (LNGJ) - The US National Oceanic and Atmospheric Administration (NOAA) said this year's Atlantic hurricane season, which could possibly disrupt oil and gas activities and LNG cargo loadings on the Gulf Coast, will bring an average number of ocean storms and hurricanes. NOAA forecasters estimate that there will be 12 to 17 named storms of which five to nine of those could develop into hurricanes and one to four will become major hurricanes during the June-to-November hurricane season.

   “However, the hurricane season in the central Pacific region is expected to be slightly busier this year, compared to a normal season,” said Matthew Rosencrans, the NOAA’s lead seasonal hurricane forecaster. “A key factor influencing our forecast is the predicted arrival of El Niño this summer, which typically contributes to an increase in tropical cyclone activity across the Pacific Ocean basin,” added Rosencrans.