Persistent droughts in the Panama Canal have led to a decrease in water levels, causing a backlog of ships and disruptions in goods transit. As a result, multiple carriers have shifted to Suez Canal shipments, impacting trade routes from Asia to the US. The drought's effects are felt globally, with shipping disruptions reverberating to ports in Asia, Europe, and Africa.
For Asia-US ocean shipping services, multiple carriers had already pivoted to Suez Canal shipments because the Panama Canal water levels are low Those same routes are pivoting AGAIN because of Suez container ship attacks https://t.co/yxwMQ4cAhx
Update from the Panama Canal https://t.co/nCTflo2i8w
Panama’s drought shows how trade disruptions from climate extremes can reverberate around the world. Shipping disruptions from the worst drought in the Panama Canal’s 143-year history are felt at ports as far away as Asia, Europe and Africa. https://t.co/6eNgnICHV4 https://t.co/MxWrOo6wWn
Drought-hit Panama Canal to increase shipping slots to 24 https://t.co/GrcIRUwxFJ https://t.co/iE5iNyb4Nw
Drought-hit Panama Canal to increase shipping slots to 24 https://t.co/sgPsdAbwEK https://t.co/sVlYl3HfVF
Drought-hit Panama Canal to increase shipping slots https://t.co/Q0i5zQ0txS https://t.co/cpkEOiG8S6
⚠️ FUEL TANKERS FACE LONG SLOG AS PANAMA CANAL DROUGHT REROUTES FLOWS Full Story → https://t.co/DHbhEEPBF7 https://t.co/Begbbf1rMn
🗞️ As previously noted in our recent newsletters, persistent droughts are disrupting goods transit through the Panama Canal. Water levels are dropping, causing a backlog of ships that will likely affect holiday season prices for goods and fuel. https://t.co/LBTWRSbcte https://t.co/1nRZn4OrAP