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Nearly 30 million yuan! Panama "tolls" bid sky-high!

Nov 13,2023

 

Recently, the water level in the Panama Canal hitAfter a new low in '73, auction prices for the canal's "queue-jumping rights" continue to be driven up by ships eager to cross the border.

 

One of the auctions hit a nearThe historical record of 4 million US dollars, about 29 million yuan, is the most expensive toll in history...

 

Auction and flight restriction are carried out at the same time.

 

Drought conditions in the Panama Canal have worsened in recent months.

 

In order to ensure the normal passage of ships during the drought, on the one hand, the Panama Canal Authority has organized for transit shipowners.A "queue-jumping" auction, in which priority transit rights are taken out for special auction.

 

In addition, according to Bloomberg, in order to obtain priority transit rights for the Panama Canal,JapanEneos Group paid $3.975 million (about 28.96 million yuan) in an auction on Wednesday.

 

And it does not include the regular transit fee for the ship, which is probably in the hundreds of thousands of dollars.

 

NearThe auction price of $4 million once again set a new record for the "tolls" of the Panama Canal, an astonishing 40% increase from ten days ago.

 

to this,The CEO of Flex LNG and Avance Gas noted that,Latest Tender to Close to Cost of Use of CanalAt $4.5 million, many ships will not be able to afford this cost.

 

 

In addition, the Panama Canal Authority confirmed that the recent auction did set a new record, but did not disclose the winner of the auction.

 

And the agency said the vessel will beNov. 15 northbound carrying LPG. Eneos did not respond to a request for comment.

 

Meanwhile, the Panama Canal Authority also said it held a140 auctions, three of which had bids in excess of $1 million.

 

On the other hand, the Authority announced that it would significantly reduce the number of crossings on the Canal in phases over the next three months.

 

This was done because the water level of Gatong Lake, which sits at the top of the waterway and provides water for the sluice below, is at an all-time low. to next yearIn February, daily shipments may drop to about half of normal capacity.

 

According to the latest announcement issued by the Panama Canal Authority, fromStarting from November 3, the number of passes will be reduced from 31 per day to 25 per day, and will be gradually reduced over the next three months.

 

It will be reduced to 22 per day on December 1, 20 per day on January 1, 2024, and 18 per day on February 1.

 

In addition, shipping researchers say that weather problems will force large tankers to stop using the Panama Canal altogether, which will extend their voyages by thousands of miles.

 

 

previously,Poten & Partners Inc. In a report, it said this would make it particularly difficult for so-called non-scheduled ships, which tend to have no fixed schedule but rely on ships with cargo loading times.

 

As we all know, the Panama Canal is a shortcut between the Atlantic Ocean and the Pacific Ocean. To avoid it means to bypass the bottom of Africa or America, and large oil tankers may leave the canal.

 

El Nino and Canal Drought

 

This year's El Niño phenomenon has severely affected the shipping industry on all continents.

 

El Niño is a phenomenon that occurs in the ocean. Its distinctive feature is the abnormal warming of seawater in the eastern and central equatorial Pacific, which will affect global weather conditions.

 

The general cycle of El Niño is2-7 years, with an average cycle of 4 years, usually lasting 9-12 months.

 

FromIn the 120-plus years since the 20th century, there have been 29 El Niño events and 29 La Niña events, with the last El Niño event occurring in 2018/2019.

 

A few days ago, according to the China Meteorological News, from the interannual variability of precipitation, El Nino-The Southern Oscillation has a significant impact on the dry and wet changes in the Panama Canal area.

 

 

Droughts are common in Panama when El Niño events occur, while precipitation increases in Panama when La Niña events occur.

 

This cyclical climate phenomenon is evident in the precipitation changes in the Panama region. The drought in the Panama region reflects this interannual climate change.

 

It can be seen that the drought and humid events in Panama are closely related to the periodic alternation of El Nino and La Nina events.

 

At the same time, according to the special report of CITIC Futures Research Institute, by next yearIn February, a decline in Panama Canal traffic will affect the efficiency of U.S. commodity exports to Asia, which in turn will push up freight rates or will raise commodity prices.

 

It is predicted that this year's El Niño will lastend of 2023 and then dissipate in mid -2024.

 

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