LPG shipping

Panama Canal transits sink to new drought-driven low in December

chart of Panama Canal transit data

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The Panama Canal has faded from the headlines amid all the focus on the Red Sea. But fallout to...

https://www.freightwaves.com/news/panama-canal-transits-sink-to-new-drought-driven-low-in-december

Shipping shares outpaced S&P 500 amid 2023’s rising stock market

chart of shipping stocks

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As 2023 draws to a close, the oft-predicted recession is still nowhere in sight and the S&P 500...

https://www.freightwaves.com/news/shipping-shares-outpaced-sp-500-amid-2023s-rising-stock-market

Panama Canal transits plunge as larger ships are turned away

The official Panama Canal transit numbers for November are out — and they’re ugly. November could be the tip of the iceberg. Reservation slots are being slashed further this month and in January.

The total number of transits declined 22% in November versus October, according to just-released data from the Panama Canal Authority (ACP). And for the first time since the drought began, the numbers are not just falling at the older, smaller Panamax locks. They’re also declining sharply at the larger...

https://www.freightwaves.com/news/panama-canal-transits-plunge-as-larger-ships-are-turned-away

How Middle East war could impact global LNG, LPG shipping

War in the Middle East changes the geopolitical calculus for ocean shipping, compounding existing threats from Russia’s invasion of Ukraine. Two of the top energy cargoes at risk in the Middle East are liquefied petroleum gas (LPG) — propane and butane — and liquefied natural gas (LNG).

What happens next in the Middle East will have major trade consequences for the U.S., the world’s largest exporter of both LNG and LPG.

Oystein Kalleklev is the CEO of LNG shipping company Flex LNG (NYSE: FLNG)...

https://www.freightwaves.com/news/how-middle-east-war-could-impact-global-lng-lpg-shipping

War in Israel: The new geopolitical flashpoint for ocean shipping

Wars and pandemics — geopolitical and global health crises causing widespread suffering and death — have the side effect of hiking profits in certain industries. Wars inflate returns for defense contractors. The pandemic was a bonanza for certain pharmaceutical companies.

Shipowners have profited from both. Container-line owners made fortunes during COVID. Russia’s invasion of Ukraine buoyed rates for tanker companies.

Now there’s a new geopolitical crisis — the Israel-Hamas war in response to...

https://www.freightwaves.com/news/war-in-israel-the-new-geopolitical-flashpoint-for-ocean-shipping

How have shipping shares performed versus broader stock market?

chart of container shipping stocks

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Ocean shipping stocks are not “buy-and-hold” investments. Shipping is a highly cyclical industry;...

https://www.freightwaves.com/news/how-have-shipping-shares-performed-versus-broader-stock-market

Panama Canal restrictions are rerouting LPG shipping flows

photo of an LPG ship transiting Panama Canal

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Panama Canal restrictions are already forcing ships to take multi-week detours via the Suez Canal...

https://www.freightwaves.com/news/panama-canal-restrictions-are-rerouting-lpg-shipping-flows

As propane exports break records, LPG shipping stock hits new high

chart of LPG exports

A handful of shipping stocks have left the rest in the dust this year. Dorian LPG (NYSE: LPG) is at the forefront. Its adjusted closing price, accounting for dividends, is up 63% year to date. On Monday, its share price hit its highest level since the company went public in 2014.

Dorian operates a fleet of very large gas carriers (VLGCs) that transport liquefied petroleum gas (LPG) — i.e., propane and butane — on long-haul voyages, mainly from the U.S. or the Middle East to Asia.

LPG exports have...

https://www.freightwaves.com/news/as-us-propane-exports-surge-lpg-shipping-stocks-gain

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