GLNG: Cape of Good Hope emerges as top route for US LNG cargoes to Asia

US LNG exporters have pivoted to shipping cargoes to Asia around the Cape of Good Hope in the first half of 2024, S&P Global Commodity Insights reported on May 24.

In the first five months of the year US LNG producers have already sent a record 123 LNG cargoes via the alternative route as poor weather and geopolitical conflict have made exporters hesitant about using the two more popular routes via the Panama Canal and Suez Canal.

The previous record for US cargoes to Asia transiting around the Cape of Good Hope was 120 in 2021.

Meanwhile, April was the month with the most cargoes utilising this route to Asia, with 30 cargoes. However, as of May 24, there were already 29 cargoes in transit around the Cape, making a new record likely in May.