Strait of Hormuz disruption helps drive 8% rise in Panama Canal transits

AI Summary

The increase in ship transits via the Panama Canal has been attributed to disruptions in the Strait of Hormuz, rising by 8% year-on-year due to growth in the tanker sector. This reflects an uptick in US energy exports to the Pacific, influencing shipping dynamics in the region.

“So far this year, ship transits via the Panama Canal have increased 8% y/y to a daily average of 38, driven by the tanker sector. Transits have been especially high during the past five weeks, rising 16% y/y, as US energy exports to the Pacific jumped,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO. The ...