The Panama Canal Authority announced an extension of its restrictions on vessel transit through the waterway until September 2nd, maintaining a daily maximum of 32 authorized vessels.
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These measures, attributed to a delayed rainy season, may exacerbate pressures on consumer goods pricing, raising concerns among maritime experts and companies due to added shipping costs and delays. The Canal restrictions, implemented in recent months as the rainy season in Panama has come late this year, could add more pressure on consumer goods prices, according to maritime firms and experts, as delays and extra fees add to shipping costs.is important for moving consumer goods from Asia to the United States, especially ahead of peak selling seasons like Christmas. It also allows faster transportation of U.S. commodities to Asia and South America's Pacific Coast.
The bottleneck easing follows more slots opened last week by the Canal Authority for non booked vessels."In light of the prolonged effects of the dry season ... the Panama Canal is extending booking condition 3 in order to continue to alleviate congestion for ships already in queue to transit or in route, who were unable to secure reservations beforehand," the Canal's authority told Reuters by email.
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