Flexport said in its latest advisory that further limits in the number of daily transits in the Panama Canal could lead to container vessel delays.

In its latest report, Flexport noted that beginning in November, the Panama Canal Authority will further restrict the number of daily transits to 31 from the normal 36.

"This will bring with it the likelihood that container services will begin to see delays, which they've been able to previously avoid," it said.

Flexport added that this could lead to delays of up to 2-3 day range.

Nonetheless, evven with the delays, the report said this timeline is "still faster" than shipping via Suez services for most Asia ports of loading.

It added that heavy and time-critical cargo should consider routing via the US or Canadian West Coast or utilizing rail or trucking services.

Meanwhile, in Brazil, Flexport pointed out that the water levels in the Amazon River is at its "critical passage points" have reached an unprecedented level, making it impossible for container vessels to access the Manaus port.

"Due to the unpredictable river conditions, we cannot provide a concrete forecast at this moment when Manaus will be accessible again," Flexport said.

It noted that ocean carriers are closely monitoring the river conditions and will communicate promptly when safe operations can resume.

Moreover, the Port of Navegantes has been closed since October 4 due to adverse weather conditions, while ZIM announced a GRI for all cargo from East Coast South America (including Brazil) effective November 1 at a quantum of US$450/ctr.

"As of October 21, some carriers have reopened with some draft restrictions," the report said. "Despite these challenges, Brazil continues in its peak season."