The Panama Canal is struggling to persuade traders in liquefied natural gas and food commodities such as grains to return to the trade route after they were forced out by a historic drought last year.
The 110-year-old canal, through which goods ranging from US LNG to Latin American crops have for decades reached the rest of the world, was forced to cap crossings last July because of a lack of rainfall needed to operate its locks. It hopes to return close to full capacity in September after months of higher rainfall.
But only 13 LNG ships crossed the canal last month, fewer than half the number in July 2022, according to shipping analysis group Marine Traffic. Transits by dry bulk ships also dropped 35 per cent to 129 over the same period.
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