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The Panama Canal has ended its long drought period and now allows Neopanamax ships its maximum draft of 50 feet. This is the first time in 20 months that the canal has reached that depth, reached in June 2020 and increased gradually since.
Deeper drafts let ships carry more cargo, with each foot of depth accounting for about 330 containers.
Full draft restores a more efficient route for grain and other bulk cargo through the canal, which can lower freight costs for US Gulf exports to Asia.
panamaadvisoryinternationalgroup.comAdrian ProzzoSep 28, 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.
