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Ocean carriers including MSC, CMA CGM and Hapag-Lloyd are adding Panama Canal surcharges while the canal reportedly suspends part of its booking system. The suspension would cut daily Panamax slot capacity from 36 to 34 vessels.
NOAA has warned that El Niño will strengthen and persist.
Reduced canal capacity and new surcharges push up ocean freight costs for US Gulf and Pacific grain exports to Asia and the East Coast. That raises the landed cost of feed ingredients.
wwd.comGlenn TaylorSep 3, 2019Not 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.
