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Vessels queued for Panama Canal transit stood at 128 ships on September 1, about 42% above the 90-ship average but 21% below a month earlier. Ships are paying large premiums to skip the queue, and the authority has moved to a less restrictive booking condition for Panamax locks.
Easing congestion is a mildly bearish factor for ocean freight, though draft and transit restrictions remain in place into 2024 and keep dry bulk costs elevated.
datamarnews.comSylvia SchandertSep 1, 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.
