Shipping companies have paid $235 million so far this year to jump ahead of a backlog of congestion at the Panama Canal, which is 20% higher than fees paid for all of last year. Severe drought is constraining the Panama Canal, leading to spiraling costs for ships to go through it. At its maximum capacity, between 38 and 40 ships can pass through the Panama Canal each day, but over the past few months far fewer ships have made the voyage. The backlog has prompted the Panama Canal to auction more spots to jump the line, and the world’s largest operator of chemical tankers has decided to reroute its fleet through the Suez Canal due to the backlog at the Panama Canal.
Ships can try to skip the line at the Panama Canal—for a premium price. https://t.co/aandNbZDGa
The Panama Canal has become so backlogged that the world’s largest operator of chemical tankers has decided to reroute its fleet through the Suez Canal https://t.co/od7Db7NP1t
The Panama Canal has become so backlogged that the world’s largest operator of chemical tankers has decided to reroute its fleet through the Suez Canal https://t.co/01rPi3a1K7
The Panama Canal auctions more spots to jump the line amid a growing backlog of ships waiting to transit key waterway for commodities https://t.co/Ue6TbUIUmK
Ships can try to skip the line at the Panama Canal—for a premium price. https://t.co/jeTXGgRGBw
Ships can try to skip the line at the Panama Canal—for a premium price. https://t.co/HdDDvXjoVJ
Severe drought spells trouble for trade routes reliant on the Panama Canal—and consumers will feel the pinch https://t.co/n6QRUG6MW0 👇
At its maximum capacity, between 38 and 40 ships can pass through the Panama Canal each day. But over the past few months far fewer ships have made the voyage. Why? https://t.co/8m2eOegUbI 👇
Severe drought is constraining the Panama Canal. Costs for ships to go through it are spiralling. Consumers will feel the pinch https://t.co/cUBgukLsmC 👇
Severe drought spells trouble for trade routes reliant on the Panama Canal—and consumers will feel the pinch https://t.co/6J0ybxLOSx 👇
At its maximum capacity, between 38 and 40 ships can pass through the Panama Canal each day. But over the past few months far fewer ships have made the voyage. Why? https://t.co/yIEzfIdy0U 👇
Severe drought is constraining the Panama Canal. Costs for ships to go through it are spiralling. Consumers will feel the pinch https://t.co/I8u47fNUmI 👇
Shipping companies have paid $235 million so far this year to jump ahead of a backlog of congestion at the Panama Canal — 20% higher than fees paid for all of last year https://t.co/VRx2QKiAOa
Shipping companies have paid $235 million so far this year to jump ahead of a backlog of congestion at the Panama Canal — 20% higher than fees paid for all of last year https://t.co/yFDArjoGdz