Transits of the Panama Canal increased 8% on a year earlier, or 28% on a capacity-adjusted basis, one year on from the completion of its widening. Maintenance in the next two months may lead to a slower development. Handling through the Suez Canal increased by 3%, but that was the fifth straight month of improvements, suggesting the rebalancing between the two canals is done. A similar pattern can be seen on Asia-to-U.S. routes. Shipments to California jumped 14% vs 5% to the southeast, reversing the prior month’s pattern and indicating the “Panama Canal effect” of diverting traffic is p...