World News
Panamanian Ports Shutter Operations on Approach of Hurricane Otto
As Hurricane Otto makes its way through the Central American region, GAC says a number of Panamanian ports and terminals, including Port Cristobal and Manzanillo International Terminal (MIT), have ceased operations, as have the region's harbour movements, World Maritime News reports.
Panamanian authorities have posted a nationwide red alert, while the U.S. National Hurricane Center (NHC) has issued a hurricane watch for the Costa Rica-Panama border, as well as Southern Nicaragua.
Balboa and Cristobal anchorages are noted to be experiencing delays, GAC noted.
While vessels are still able to transit the Panama Canal, excessive rainfall is said to have prompted authorities to open 13 of 14 of the Gatun water dam gates in order to prevent flooding.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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