Oslo : “The limits in daily transits in the Panama Canal have significantly affected the dry bulk market, with transits down 74% y/y between January and April 2024. During this period, sailing distances for completed voyages in the affected routes rose 31% y/y, while the cargo volume dropped 25% y/y. Overall, tonne mile demand for these routes fell 1% y/y,” says Filipe Gouveia, Shipping Analyst at BIMCO.

Low water levels in lake Gatun have caused restrictions in the number of transits through the Panama Canal at a maximum draught . . .