Transits of the Panama Canal fell for a second month in February, with a 4% decline on a year earlier. The next two months may also be a struggle with 16% of slots out of commission for maintenance. While the number of neopanamax transits climbed 18%, that couldn’t prevent a 0.2% drop in estimated tonnage transiting the Canal. That was the first drop since June 2016, and while there are still neopanamax slots available there will need to be further routing changes to make a difference to the Canal’s growth. The diversion effect (Asia traffic to U.S. southeast vs. California) may have pla...