Splash 247: Shipping locks in Panama Canal diversion plans

November 15, 2023

“Large oil tankers will not feature in this trade anymore. They will not be able to schedule in advance like container ships do and they can likely not compete for the auction slots,” a report from New York-based tanker brokers Poten & Partners suggested.

“The stark reduction in slots will push many of the tramp vessels (including tankers and dry cargo ships) away from the Canal. This will lead to more ton-mile demand and possibly changes in segment utilization as longer hauls may stimulate the use of larger vessels,” Poten predicted.

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