TT’s first LNG cargo passes through Panama Canal

The vessel, operated by BP Shipping, left Atlantic in Point Fortin on July 26 with its cargo destined for Mexico.

A photo of British Merchant’s historic passage was issued by BP Trinidad and Tobago (bpTT) on Monday (August 8).

The Expanded Canal (referred to as post-Panamax) can now accommodate 90 percent of the world’s LNG tankers, which will have a major impact on global LNG flows and offer numerous benefits to shippers. TT’s LNG now stands to benefit from enhanced market access particularly to the Asian market.

In a July 21 statement about this historic shipment, Atlantic’s CEO, Nigel Darlow, had said this augurs well for TT because the Asian market accounted for 72 percent of worldwide LNG demand in 2015.

“Prior to June 2016, approximately eight percent of the world’s LNG tankers utilised the Canal however, with the expansion, 90 percent of the worldwide fleet can now traverse,” Darlow stated.