The Suez Canal Authority (SCA) has succeeded in attracting the largest amount of the LNG tankers between the US and Far East in January 2021 compared with other routes and channels, according to the ARGUS International company’s report.
The report stated that “the Suez Canal is the first choice for US liquefied natural gas (LNG) tankers to the Far East during January 2021.”
Additionally, the report highlighted that the Suez Canal offered competitive advantages by achieving cost saving compared to the Cape of Good Hope, in addition to providing incentives and discounts ranging from 35% to 75% for LNG tankers.
Osama Rabie, the Chairman of the Suez Canal Authority stated that the authority is keen to increase the canal’s competitiveness by issuing navigational publications and books to attract the largest amount of LNG trade between the US, Asian countries, and the Far East countries as well as providing incentives and discounts. The authority is also communicating with the major natural gas companies operating in the Asian market in India, China, Japan, and Singapore to encourage them to transfer their cargos from the US through the Suez Canal.
Rabie also mentioned that an unprecedented increase in the number of the US LNG tankers crossing the Canal amounted to 51 tankers with 5.3 million tons, representing about 50% of the total number of LNG, which is a 90% increase over the tankers’ total number crossed the canal during January 2021.