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The Panama Canal Authority suspended a planned tightening of draft limits on ships, keeping current limits of 44.0 feet for Neopanamax and 39.5 feet for Panamax locks. Dry conditions are expected to persist through July and possibly until year-end due to low Gatun Lake levels.
Keeping draft limits unchanged eases near-term constraints on grain cargo loadings through the canal, but ongoing drought risk could still restrict shipments and raise freight costs later.
freightwaves.comFreightWaves StaffJul 12, 2019Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
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.
