Record For Transits Doesn’t Mean Suez-Panama Canal Competition Is Over — Panjiva


Record For Transits Doesn’t Mean Suez-Panama Canal Competition Is Over

Global 722 Mode - Containerized 1005 Mode - Seaborne 1273 Theme - Canals 87

Vessel transits of the Suez Canal reportedly hit a one-day record last week. That followed a 6% growth in traffic in the month of July and is a sign that competition from the Panama Canal and security concerns in Yemen have yet to take a significant toll on Suez. The expansion was nonetheless slower than the 7% seen in the prior three months due to containerized freight rising by just 3%. The likely expansion of U.S.-China tariffs may begin to crimp volumes transiting both Panama (which at 10% grew more quickly than Suez for a fifth straight month) and Suez, potentially leading to a new ...

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