Infrastructure Bottlenecks and Rising Canal Fees Reshape Global Energy Shipping Routes

## Infrastructure Bottlenecks and Rising Canal Fees Reshape Global Energy Shipping Routes Two separate but telling developments in global energy shipping this week highlight how infrastructure constraints — whether aging terminals or congested waterways — are forcing market participants to adapt in real time. ### Venezuela's Port Crisis Creates Tanker Backlogs Venezuela's resurgent crude oil production is running headlong into a wall of its own making. According to gCaptain, tankers are waiting up to 30 days to load at Venezuelan oil terminals, as dilapidated port infrastructure effectively imposes an unofficial cap on the country's export capacity. Shipping data, industry sources, and internal documents cited by gCaptain point to a combination of aging terminal equipment, chronic power outages, and crude quality inconsistencies as the primary culprits. The result is a growing queue of vessels idling offshore — a costly and operationally disruptive situation for shipowners and charterers alike. The irony is significant: Venezuela has been working to rebuild production levels following years of US sanctions and economic mismanagement, yet the physical infrastructure required to monetise that output has not kept pace. Until substantial investment is directed at port rehabilitation, export volumes will remain constrained regardless of upstream gains — a dynamic that will continue to influence tanker scheduling, freight rates, and crude supply availability in markets dependent on Venezuelan barrels. ### Panama Canal Fees Spark LPG Shuttle Trade Innovation On the other side of the Americas, record Panama Canal transit fees are driving a structural shift in how US LPG reaches Asian markets. gCaptain reports that major exporters, including Chevron Corp., are turning to ship-to-ship (STS) transfer operations as an alternative to direct canal transits, creating what analysts are describing as a nascent LPG shuttle trade. Under this emerging model, LPG cargoes are transferred between vessels — typically outside the canal zone — allowing exporters to sidestep both the congestion and the escalating toll costs that have made Panama Canal transits increasingly expensive for energy shippers. The canal has faced well-documented challenges in recent years, including drought-related draft restrictions and surging demand that have pushed booking fees to record levels. The adoption of STS operations by a major integrated energy company like Chevron signals that what might have initially been a tactical workaround is maturing into a recognised commercial strategy. If fees remain elevated, the shuttle trade model could attract further investment in dedicated transfer infrastructure and specialist vessels. ### Broader Implications Taken together, these developments underscore a broader theme: energy shipping routes and logistics are under mounting pressure from infrastructure deficits and cost escalation. Whether the challenge is a crumbling Venezuelan jetty or a congested Central American waterway, the industry's response — improvisation, rerouting, and new operational models — reflects the resilience and adaptability that define modern maritime commerce.