# BIMCO: Panama Canal Transits Remain 10% Below Average Despite Lifted Drought Restrictions

> BIMCO reports Panama Canal ship capacity from September 2024 to January 2025 was 10% below the 2019-2022 average, even though drought transit restrictions have been lifted. Dry bulk, LNG and some tanker traffic has not returned, and U.S. grain shipments have shifted to West Coast ports. Containerships, LPG carriers and car carriers are running above historical levels.

- Date: 2025-02-06 · published 2025-02-06T12:00:00.000Z
- Category: logistics · region Panama · magnitude low
- Page: https://feedsoft.ai/events/16964-bimco-panama-canal-transits-remain-10-below-average-despite-lifted-drought
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Ships avoiding the canal lengthen voyages and raise tonne-mile demand, which supports freight rates. The shift of U.S. grain exports to Pacific ports also reduces Gulf canal flows and can change regional basis levels.

## Read by commodity

- SOY: neutral
- CORN: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-02-07 | [Transits Through the Panama Canal are Down 10%  \| SupplyChainBrain](https://feedsoft.ai/events/16969-transits-through-the-panama-canal-are-down-10-supplychainbrain.md) | +1.5% | -6.3% |
| CORN | 2019-07-12 | [Panama Canal Authority suspends latest draft restrictions on ships - FreightWaves](https://feedsoft.ai/events/57985-panama-canal-authority-suspends-latest-draft-restrictions-on-ships-freightwaves.md) | -3.2% | -7.0% |
| CORN | 2024-01-19 | [Panama Canal restrictions' impact on supply chains \| McKinsey](https://feedsoft.ai/events/32022-panama-canal-restrictions-impact-on-supply-chains-mckinsey.md) | +0.8% | -6.7% |
| CORN | 2018-04-09 | [More Traffic Projected in Panama Canal -](https://feedsoft.ai/events/65409-more-traffic-projected-in-panama-canal.md) | -0.2% | +2.2% |
| CORN | 2023-09-22 | [US ag exporters at most risk from Panama and Mississippi restrictions - The Loadstar](https://feedsoft.ai/events/33986-us-ag-exporters-at-most-risk-from-panama-and-mississippi-restrictions-the.md) | +1.4% | +3.0% |
| SOY | 2025-02-07 | [Transits Through the Panama Canal are Down 10%  \| SupplyChainBrain](https://feedsoft.ai/events/16969-transits-through-the-panama-canal-are-down-10-supplychainbrain.md) | -2.9% | -4.7% |
| SOY | 2024-01-19 | [Panama Canal restrictions' impact on supply chains \| McKinsey](https://feedsoft.ai/events/32022-panama-canal-restrictions-impact-on-supply-chains-mckinsey.md) | +0.8% | -4.2% |
| SOY | 2020-10-19 | [Grain trade has supported Panamax freight rates but coal risk still remains](https://feedsoft.ai/events/50534-grain-trade-has-supported-panamax-freight-rates-but-coal-risk-still-remains.md) | +3.2% | +8.7% |

## Sources

- gcaptain.com: https://gcaptain.com/bimco-panama-canal-transits-remain-10-below-average-despite-lifted-drought-restrictions/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.