Disruptions in the Red Sea due to attacks from Houthi rebels and a drought-induced slowdown of goods through the Panama Canal are driving up freight costs and putting a focus on the vulnerabilities of key chokepoints in agricultural shipping lanes.
Soybean Supply Chains and the Panama and Suez Canals – Ohio Ag Net ocj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ocj.com Daily Mail and Mail on Sunday newspapers.
Significant drought is impacting water levels in the Panama Canal, forcing bulk grain shippers to take alternative trade routes to avoid delays. Vessels coming from the U.S. Golf Coast to Asia are opting for longer routes and increased fright expenses to steer clear of congestions and record-breaking transit fees in the Panama Canal.