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S&P Global discusses how El Niño-driven draft reductions and daily transit limits at the Panama Canal have lengthened waiting times. Shipowners are raising freight costs, lightering cargo, or rerouting, with bottlenecks potentially lasting into 2024.
Persistent canal restrictions add transit time and cost to grain flows from the US Gulf to Asia, supporting ocean freight rates and delivered feed prices.
spglobal.comBarbara Troner, Catherine Rogers, Laura Aebi, Nikolaos Aidinis AntonopoulosSep 7, 2023Not 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.
