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The Panama Canal Authority imposed a freshwater surcharge of $10,000 for vessels over 125 feet, with a variable fee of 1 to 10 percent of tolls depending on Gatun Lake levels. The canal also cut daily reservation slots from 32 to 27 while it conserves water during historically low lake levels.
The International Chamber of Shipping criticized the surcharge.
Higher transit costs and fewer slots raise ocean freight costs on routes through the canal, including US Gulf routes, which can widen freight disadvantages for exporters and lift grain and feed shipping rates.
professionalmariner.comProfessional Mariner StaffJun 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.
