# El Niño spells dire straits for shippers at the Panama Canal | S&P Global

> 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.

- Date: 2023-09-07 · published 2023-09-07T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33988-el-nino-spells-dire-straits-for-shippers-at-the-panama-canal-s-and-p-global
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/podcasts/commodities-focus/090723-panama-canal-el-nino-draft-restrictions-shipping-tankers-containers

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