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“Panama Canal, average transit waiting time eased from 19 days to 11 days… However, it is still above the average level.”
The Panama Canal Authority (ACP) announced that the average number of waiting days for transit was 11 days, down from the peak of 19 days, but still above the average level (9 days). Alternative routes to the Panama Canal include ▲Suez Canal ▲Cape Horn ▲U.S. West Bank bypass and use of railway
S&P Global estimates that the proportion of imports from the US West Coast in August was 54.7%, exceeding the previous month (52.0%) and the previous year (51.7%), and that in addition to the increase in demand during the peak season, the West Coast bypass traffic also increased due to the influence of the Panama Canal.
Meanwhile, container ships can be delayed up to 3 days, while bulk carriers can wait up to 15 days or more. According to the JOC, ships are adjusting their speeds to avoid waiting to transit the canal.
The Panama Canal Authority predicts that the water level will rise from 79.8 feet in September to 81.5 feet in November, but this is still lower than the average of 83.94 feet, and the situation in 2024 will not be easy as the traditional dry season will last from the end of the year to next spring. revealed
excerpt from Bloomberg news