VLGCs that shifted away from Panama Canal transits because of weather-related restrictions are returning because alternative Red Sea routes have been shut off by Houthi rocket attacks, according to new analysis from Argus Media.
The peak of the climate change-related crisis in the last months of 2023 had seen some VLGCs hauling cargoes from the US to East Asia reroute via the Suez Canal or the Cape of Good Hope, adding about two weeks to the journey.
