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Ships are waiting 10 to 15 days to transit the Panama Canal without reservations, with the delays hitting LNG and LPG cargoes from the US Gulf Coast to Asia. The canal authority attributes the backlog to seasonal fog, higher arrivals and Covid-19 safety procedures, and says booked vessels are not affected.
Longer transit times and higher spot charter rates for gas carriers could raise US LNG and LPG delivered costs into Asia and push cargo owners onto alternative routes, with limited direct effect on grain freight.
panamaadvisoryinternationalgroup.comAdrian ProzzoNov 3, 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.
