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BIMCO's Filipe Gouveia reports that Panama Canal transit limits cut dry bulk transits 74% year-over-year from January to April 2024. Sailing distances for affected routes rose 31% as operators rerouted, while cargo volume dropped 25%.
Longer routing and reduced canal access tighten effective dry bulk capacity and lift freight costs for smaller vessel segments, supporting ocean grain freight rates.
container-news.comIoanna KontosMay 28, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
