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The Panama Canal is experiencing record-low water levels not seen since 2016, with draft limits cut to 44 feet and Panamax slots reduced from 23 to 14 per day. The vessel backlog reached 162 ships on August 8.
Reduced daily slots and draft limits constrain dry bulk grain flows through the canal, keeping ocean freight elevated for US and South American exporters.
indiaseatradenews.comISTN EditorSep 25, 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.
