Panama Canal Droughts Causes Possible Shipping Delays
Description
Impact Summary: Panama Canal recovering from drop in vessel transit after one of the driest years on record.
Industries Affected: Global shipping, retail, automotive, agriculture
Potential Impact: Extended delivery times, increased freight costs, higher inventory holding expenses.
Recommended Actions: Evaluate alternative shipping routes, communicate delays with partners, adjust inventory strategies.
All updates
Panama Canal trade rebounds after record drought
After experiencing a 29% drop in vessel transit due to significant drought in Fiscal Year 2024, the Panama Canal Authority reports trade rebound resulting from operational and technological advancements.
November 11, 2024
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Maersk announces use of \land bridge\ for Oceania cargo due to Panama Canal drought
Maersk has announced that vessels carrying cargo from Australia and New Zealand will no longer be using the Panama Canal due to drought conditions. Cargo will instead be unloaded at the Port of Panama and moved across the country via rail, before being loaded onto another vessel for transport to their destination countries.
January 10, 2024
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Panama Canal daily transits down nearly 40% due to drought conditions
Daily transits on the Panama Canal were down nearly 40% in the last quarter of 2023, maxing out at 22 per day instead of the normal 36. The restriction in vessel traffic resulted from a prolonged dry season and severe drought during one of the driest years in history for the area surrounding the canal.
December 31, 2023
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