# Panama Canal says trade rebound is underway after record drought

> The Panama Canal Authority reported a 29% drop in vessel transits in fiscal 2024 after a record drought linked to El Niño. Administrator Ricaurte Vasquez says a new booking system is increasing cargo volumes and a dam decision is pending.

- Date: 2024-11-12 · published 2024-11-12T12:00:00.000Z
- Category: logistics · region Panama · magnitude medium
- Page: https://feedsoft.ai/events/16987-panama-canal-says-trade-rebound-is-underway-after-record-drought
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Canal capacity recovery eases U.S. Gulf to Asia shipping constraints and lowers rerouting costs for grain and LNG flows. Continued restrictions would keep freight elevated and favor alternative routes.

## Read by commodity

- NATGAS: neutral
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-12-23 | [Panama Canal pricing structure could see variable component tied to demand \| S&P Global](https://feedsoft.ai/events/43484-panama-canal-pricing-structure-could-see-variable-component-tied-to-demand-s.md) | -6.9% | +2.3% |
| NATGAS | 2022-11-14 | [U.S. natgas up 1% after paring gains on Texas Freeport LNG delay rumors \| Reuters](https://feedsoft.ai/events/38855-u-s-natgas-up-1-after-paring-gains-on-texas-freeport-lng-delay-rumors-reuters.md) | +16.7% | +25.3% |
| NATGAS | 2026-10-08 | [European Natural Gas Prices Defy Rebound in Middle Eastern LNG Shipments](https://feedsoft.ai/events/629-european-natural-gas-prices-defy-rebound-in-middle-eastern-lng-shipments.md) | +0.2% | -10.6% |
| NATGAS | 2017-08-10 | [From Natural Gas Pipeline to Grain Trade, US and Mexico Feed Each Other](https://feedsoft.ai/events/69424-from-natural-gas-pipeline-to-grain-trade-us-and-mexico-feed-each-other.md) | +2.4% | +5.0% |
| NATGAS | 2019-10-23 | [River Transport News publisher addresses issues facing river barge industry - FreightWaves](https://feedsoft.ai/events/56461-river-transport-news-publisher-addresses-issues-facing-river-barge-industry.md) | +16.2% | +12.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/11/12/panama-canal-cargo-container-trade-rebound-record-drought.html

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