Panama Canal transit delays also a factor in cancellations Sources hopes arbitrage reopens as Asia prices recover, freight weakens Some expect cancellations to slow only after March loadings Up to eight LPG cargoes for loading in the US in February were canceled due to the closed Western arbitrage to Asia, where prices slid to three-week lows around mid January as demand for winter heating eased and market activity paused for Lunar New Year festivities, trade sources said over the past week. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At least another four cargoes slated for loading in March were also heard to have been canceled, with a few more cancellations expected, the sources said. Delays that vessels face transiting the Panama Canal, ranging between 15 days north and 10 days south, as well as high fees that shippers had to pay to ensure […]