What is happening and how will it affect the consumer in the coming months?
The Panama Canal
The Panama Canal is one of the epicenters of world maritime trade, covering 6% of global trade. The drought experienced by North America has led to a reduction in the daily traffic of commercial vessels.
The lakes that feed the canal are several meters below their usual state. Since last July 30, restrictions began to limit the daily transit of ships, in order not to continue reducing the draft.
Draft is the depth that the submerged part of a vessel reaches in the water, therefore, ships must reduce the volume of cargo they carry to cross the waterway.
Since January 3, the Panama Canal Authority warns of the risks of dry seasons
The lack of water in the place has caused the daily transit capacity of ships to be reduced, passing between 36 and 38 ships a day, to a maximum of 32.
The Panama Canal authority advises that depending on the level of Gatun Lake, weather forecasts and the combination of vessels, the restrictions may become increasingly tougher.
How is the limitation of daily ships affecting the market?
- Waiting times
- Delay in the delivery of raw materials
- The drop in revenue
- US East Coast – Asia
- East Coast of USA – West Coast of South America
- Europe – West Coast of South America
