The Panama Canal is facing a surge in the number of ships waiting to transit, up by 13% in just 24 hours, as the waterway grapples with drastic transit cuts due to drought conditions. The Panama Canal Authority (ACP) has implemented daily transit volume reductions and draft restrictions due to the driest year on record.
The canal, which requires significant freshwater for each vessel transit, has seen its daily transit numbers decrease, with further cuts planned. As of the latest data, 112 ships are waiting to transit, highlighting the impact of the drought on global maritime trade. Shippers are considering alternative routes, and concerns have been raised about the impact on smaller vessels and inflationary pressures on consumer goods in the Americas.
Source: splash247.com
