Weight of Freight: VLGC troubles to persist through the rainy season at Panama Canal
Weight of Freight: VLGC troubles to persist through the rainy season at Panama Canal
As draught restrictions ease with the start of a much-awaited rainy season in the Panama Canal, difficulties are likely to persist for very large gas carriers (VLGCs) as other shipping markets move back to the route and escalate competition for transit slots.
Listen to Andres Pacheco, Analyst at the LPG Trading desk for Spain’s Repsol, and Yohanna Pinheiro, LPG Freight Market Reporter, discuss how increased competition to transit the Panama Canal and other market drivers will shape the costs of shipping LPG.
Listen now
Key topics covered
- Competitive advantages of the Panama Canal route in US-Asia routes for VLGCs
- Details of the Panama Canal booking system and slot auction price trends
- Effects of eased restrictions at the canal in heightening competition for slots among other markets
- Weather outlook and possible La Nina effects in the markets
- Long term projects to alleviate transits at Panama Canal
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US adds pressure on Iran after talks resume: Update
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Recasts, updates with secondary tariff on Iran oil. Washington, 6 February (Argus) — President Donald Trump's administration on Friday announced actions aimed to add economic pressure on Iran after another round of US-Iran nuclear talks concluded in Oman without much progress. An executive order by Trump, released by the White House Friday afternoon, pledges to impose additional tariffs on US imports from countries engaged in business with Iran. The penalty is not automatic and is not set at a specific amount — it could be "for example 25pc", the order states. The US administration will determine whether any country continues to engage in business with Iran after 7 February and will then decide whether to apply the additional tariff, according to the order. US presidential envoy Steve Witkoff and Iran's foreign minister Abbas Araqchi met in Muscat, Oman, on Friday and the two governments plan to hold additional meetings at a future date, according to the host country's foreign minister, Badr Albusaidi. Araqchi told Iranian reporters that he held firm to discussing only the nuclear portfolio — rather than also addressing Iran's missile program and other issues raised by the US. Araqchi said that he asserted "the rights that the Iranian people have", which is likely a reference to Tehran's demand to continue to have nuclear enrichment capacity. The US administration is eyeing permanent curbs on Iran's nuclear program. Also on Friday, the US Treasury Department announced sanctions on 14 additional tankers allegedly linked to a network transporting Iranian crude and LPG. Whether the negotiations will avert another round of US strikes against Iran remains to be seen. Diplomats from the two countries last engaged in talks in April-June 2025, before Trump ordered a bombing raid against nuclear facilities in Iran. The new tanker sanctions were announced shortly after the talks concluded in Muscat. The pattern of combining diplomacy and sanctions pressure continues the tactic deployed by Trump's administration during the previous round of US-Iran talks. Friday's sanctions also include 15 entities and individuals allegedly tied to the Iranian oil trade. The one major difference from last year's sanctions approach is a lack of enforcement against China-based entities involved in trading Iranian crude. Iranian crude cargoes mostly are delivered to buyers in China via a network of intermediaries and shadow fleet tankers and involve ship-to-ship transfers in international waters near Malaysia and Indonesia. The US is finding it difficult to fully enforce sanctions against Iranian crude because of Tehran's ability to retaliate, US secretary of state Marco Rubio said on 28 January. Trump, who had ordered a US naval buildup in the Middle East, threatened military strikes against Iran, but also expressed a willingness to negotiate with Tehran. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Crude Summit: Brazilian export logistics are stretched
Crude Summit: Brazilian export logistics are stretched
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Ohio River ice chokes barge traffic
Ohio River ice chokes barge traffic
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EU eyes maritime decarbonisation, industry strategy
EU eyes maritime decarbonisation, industry strategy
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