While sailing through the Strait of Magellan adds distance and fuel costs, its toll-free passage offers shipowners another option when constraints elsewhere drive up delays and transit costs.

At least 50 shadow fleet oil tankers and 18 LNG carriers were seen traveling the NSR between mid July and mid September.

Seven of the vessels were attacked near the narrowest part of the Strait of Hormuz, while it remains unclear where the eighth attack took place.

It was Núñez’s decision over the Chinese-owned Chancay port that sparked some of Washington’s most direct criticism yet of Peru’s close ties with China.

According to Kpler, roughly 40% of oil from Gulf states now leaves without crossing through the Strait of Hormuz.

Rainfall at the canal has reportedly returned to close to average levels, with Gatun Lake rising from 84.04 feet on September 1, to 84.74 feet on September 27.

Year-to-date through August, the port has handled more than 1.4 million total TEUs, falling short of that same period last year by 4.5%. 

A record 7.3 million containers passed through Chinese terminals in the seven days through September 20, an increase of 9% from a year ago.

The all-time low marks eclipses the level reached in August, when Western Europe’s hottest ever summer depleted waterways across the region.

According to a September 22 release from the Georgia Ports Authority, Indian cargo has been reaching the Port of Savannah 10 to 14 days faster in recent weeks.