The Panama Canal transit restrictions have not stopped carriers from adding 20%
of incremental capacity on the FE-USEC route since the end of August, with the
average capacity deployed over the last 5 weeks reaching 246,000 teu, compared
to 204,000 teu in the preceding 5 weeks. Capacity utilisation has slipped to 85%
in the meantime, while the SCFI freight rates tumbled from over $3,100/feu to
2,550/feu with rates as low as $2,100 currently on offer.
Although carriers have cancelled 40% of the