With record levels of LNG traveling in opposite directions through the Suez Canal, the economic rationale for swapping cargoes is growing stronger. The concept is simple: Instead of two ships embarking from different sides of the world and passing each other to supply remote markets, the parties involved agree to supply the markets closest to them, saving time, fuel, and money.Paradoxically, however, we are seeing robust growth in bidirectional trade between the Atlantic and Pacific basins. Swappable volumes increased to 3.4 million tonnes/year (tpy) in 2006 from 0.3 million tpy in 2005 and will exceed 6.0 million tpy in 2007. Growth is being driven by Asia’s thirst to soak up volum...