Bean Deal May Support Traffic Growth Through The Panama Canal — Panjiva


Bean Deal May Support Traffic Growth Through The Panama Canal

Ags - Grains/Beans 162 Brazil 260 Cons. Staples - Food/Beverages 395 Corp - Ports 661 Mode - Seaborne 1273 Theme - Canals 87

Traffic transiting the Panama Canal fell 1.7% on a year earlier in November. While increased shipments by larger neopanamax vessels likely meant tonnage increased by 6.8% that was still slower than the 11.1% rate seen in the prior three months. Competition with the Suez Canal remains fierce and will become more so if the U.S.-China trade war widens. That’s lead Panama Canal authorities to reach a deal with the Brazilian port of Itaqui to promote commodity shipments via the Panama Canal to Asia. Itaqui has already seen a 24.8% increase in soybean exports, which represent 65.1% of it...

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