US LPG Buyers Cancel Asia-Bound Cargoes as Middle East Conflict Drives Up Freight Costs
By
Nicholas Lua
Pale and squishy. Not ruined, just not done.
Summary
Buyers of US liquefied petroleum gas (LPG) have canceled at least two cargo shipments bound for Asia due to a surge in freight rates caused by the Middle East conflict. Some buyers are in talks to terminate additional shipments. The cancellations involve cargoes scheduled to load next month from US Gulf Coast export terminals.
Key quotes
· 2 pulledAt least two cargoes scheduled to load next month from export terminals on the US Gulf Coast were canceled, and some buyers are in talks to terminate more shipments, according to people familiar with the matter.
They asked not to be identified because they're not authorized to speak to the media.
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