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Transit delays have hit ships without reservations at the Panama Canal as demand surges for container ships, LNG carriers and LPG carriers. The Panama Canal Authority says waiting times have halved since mid-October, while carriers blame bad weather, high traffic and COVID-related crew shortages for tugboat constraints.
Canal congestion pushes more vessels onto longer Cape of Good Hope routes, absorbing capacity and supporting ocean freight rates. That raises costs for bulk and container grain shipments that lack reserved slots.
freightwaves.comGreg MillerDec 2, 2020Not 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.
