Hormuz crisis still pumping up Panama Canal transits as El Niño threat looms
- Tanker transits via the panamax locks were at an all-time high in May, up 53% vs February, prior to the Hormuz crisis
- Tanker transits via the neopanamax locks collapsed back to normal levels in May after an unprecedented spike in April amid initial Hormuz crisis chartering panic
- Containership transits via the neopanamax locks reached an all-time high in May, and VLGC transits recovered from April dip
The future concern over the Panama Canal is all about the weather: the chance of a potentially severe El Niño event and eventual drought restrictions. As of now, the Panama Canal is still booming, courtesy of Hormuz crisis fallout
