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Panama Canal congestion adds to LNG tonnage crunch

Tankers were held up when transiting the canal in October. This overlaps with a demand surge for the commodity and shipping tonnage amid peak gas heating season in the northern hemisphere

Shipping rates may well advance but not for long as overcapacity will weigh down the market when newbuildings enter soon. In addition, the long-haul gas shipping arbitrage window may not stay open for much longer as global gas price spreads narrow

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