Panama Canal AIS-visible transits fell to 11 vessels/day (vs. 12 normal); US crude imports at 6,709 kb/d and refinery inputs at 17,400 kb/d imply net export capacity of just 3,691 kb/d; USGC loading schedules now delayed by 1–2 weeks. North American buyers face slower arrivals; traders must fix vessels 7 days ahead.