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The Panama Canal will impose new fees on vessels from February 15 after total rainfall fell 20 percent in 2019 and Gatun and Madden Lakes dropped below norms. Container shipping will bear an outsize share of the costs, and Asia to US East Coast container costs have risen sharply.
Higher canal fees and longer routings raise ocean freight costs, particularly to the US East Coast, which can shift trade flows for dry bulk and feed cargoes toward West Coast ports.
freightwaves.comFreightWaves StaffJan 14, 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.
