Panama Canal Bets on Asian Demand to Boost Flailing LNG Traffic

After a year of traffic restrictions and upended global trade flows due to geopolitical shifts, the Panama Canal – the fastest route for American LNG to Asia – is introducing a new long-term booking system, hoping to attract larger volumes of U.S. LNG traffic. “In the case of LNG, we lost 65% (of traffic), which is the traffic that now goes through Cape Horn, compared to what we had last year, two years ago,” Panama Canal administrator, Ricaurte Vásquez Morales, told Reuters in an interview in Panama City. The Panama…