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Kuehne+Nagel reports that the Panama Canal Authority cut daily transits to 32 vessels from July 30 and is keeping draft restrictions on heavy ships. The rainy season has not yet restored water levels, and there is no container backlog on either side of the canal as of July 28.
Reduced space and draft limits on heavier ships tighten capacity on Latin American and US East Coast routes, which keeps ocean freight rates firm for agricultural and bulk cargo.
mykn.kuehne-nagel.comSeaNews EditorJul 28, 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.
