# Aperture & Focus 2023: Week 7 | Kintetsu World Express

> IATA projects air cargo volumes in 2023 will fall 5.6% below 2019 levels, driven by weak China demand. The Panama Canal began enforcing new disruption charges on February 14, and Suez Canal surcharges on crude and petroleum rise from April 1.

- Date: 2023-02-15 · published 2023-02-15T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/37224-aperture-and-focus-2023-week-7-kintetsu-world-express
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher canal and Suez surcharges raise shipping costs for bulk feed commodities, while energy-linked surcharges tie freight costs to crude price moves.

## Read by commodity

- WTI: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-01 | [Inter Continent Trading: Tankers: Persian Gulf vs Red Sea freight premium disappears as Harvey disrupts trade](https://feedsoft.ai/events/68843-inter-continent-trading-tankers-persian-gulf-vs-red-sea-freight-premium.md) | +0.4% | +9.4% |
| WTI | 2026-04-22 | [Tankers undercut grain ships in Panama Canal: queues have increased significantly — EADaily, April 22nd, 2026 — Politics, Russia](https://feedsoft.ai/events/16869-tankers-undercut-grain-ships-in-panama-canal-queues-have-increased.md) | +9.8% | +18.8% |
| WTI | 2026-05-14 | [Panama Canal transit auction fees rise to US$4 million](https://feedsoft.ai/events/16856-panama-canal-transit-auction-fees-rise-to-us-4-million.md) | +3.8% | -9.8% |
| WTI | 2021-03-26 | [Suez Canal crisis: Here are the cargoes in the crossfire - FreightWaves](https://feedsoft.ai/events/48030-suez-canal-crisis-here-are-the-cargoes-in-the-crossfire-freightwaves.md) | +5.0% | +6.3% |
| WTI | 2021-09-30 | [China's farmers face more pain as power crunch drives up feed costs \| Financial Post](https://feedsoft.ai/events/45065-china-s-farmers-face-more-pain-as-power-crunch-drives-up-feed-costs-financial.md) | +3.5% | +10.2% |

## Sources

- kwe.com: https://www.kwe.com/updates/aperture/2023_07.html

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