Cape of Good Hope captures ~43% share of US-Asia LPG voyages

AI Summary

The Cape of Good Hope route captured approximately 43% of US Gulf Coast to Asia LPG voyages in April 2026, reaching a record high since October 2016. This shift is driven by rising Panama Canal auction prices and increased waiting times, tightening VLGC supply and boosting freight rates on the BLPG3 route.

The Cape of Good Hope accounted for roughly 43% of USGC-to-Asia LPG voyages in April 2026, a record since October 2016, as Panama Canal auction prices and unbooked waiting times soared (Argus). The surge in tonne-miles is tightening VLGC supply and lifting freight rates on the BLPG3 route, with the squeeze set to intensify through ...