El Nino News

"Since the start of July, Panama Canal bulker transits have fallen 22% y/y. Bulkers have faced increased competition for transit slots from other sectors, especially tankers, as the US has boosted energy exports to Asia. El Niño is also expected to lead to lower water levels, which mean transit restrictions and thus heightened competition for available capacity,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The canal is commonly used on trade routes between the east and west coasts of the Americas, as well as some routes between the Americas and East Asia or Europe.