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The Panama Canal Authority has limited the largest vessels for the fifth time this drought season, as low rainfall has cut water reserves in the Alajuela and Gatun lakes. The authority says the reduced draft of Neopanamax vessels is affecting canal business.
Draft restrictions on the largest ships raise per-tonne freight costs on US Gulf to Asia grain routes, which supports ocean freight rates and export basis.
euronews.comJoanna AdhemApr 26, 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.
