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NYK VLGC makes landmark transit of expanded Panama Canal

NYK VLGC makes landmark transit of expanded Panama Canal
The first commercial transit of the expanded Panama Canal took place on Monday and was the first ever of the canal by a VLGC.

The NYK operated, 2003-built, 46,021 gt, Lycaste Peace transited the expanded canal on 27 June. The transit potentially marks a major expansion of the LPG trade between the US and Asia as it significantly cutting the voyage distances for VLGCs.

The Lycaste Peace transports LPG from the US to Japan for Astomos Energy Corporation headquartered in Tokyo. According to NYK Astomos Energy plans to increase its LPG handling volume from 10m tonnes a year at present to 12m tonnes in 2017 with further increases in years to come.

“The expanded Panama Canal is expected to shorten transportation days to Japan from the US East Coast and allow for further diversification of LPG supply sources,” NYK said.