Big test for Panama Canal: Can it woo bulkers back after drought?
Bulker transits this October still down 14% vs October 2022, pre-drought
The US grain export season is now ramping up. To the extent more bulkers revert to the shorter route via the Panama Canal, it will be negative for spot rates. The jury is still out. Bulker transits have risen well off drought lows, but they’re not back to normal seasonal levels yet