Panama canal traffic to be cut again as drought from El Niño worsens
- The Panama canal plans to again cut maritime traffic due to worsening drought caused by the El Niño climate phenomenon, further choking up one of the world’s most important shipping lanes.
- The canal handles 5% of global maritime trade and about 40% of US container traffic; it is favoured by shippers because it usually reduces cost and transit times, especially for companies trading between China, Asia and the US.
- From October, an average of 29.5 vessels will be allowed to transit daily – down 18% from 36 in August, according to a draft plan submitted to Panama’s parliament.
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- The Panama canal plans to again cut maritime traffic due to worsening drought caused by the El Niño climate phenomenon, further choking up one of the world’s most important shipping lanes.
- The canal handles 5% of global maritime trade and about 40% of US container traffic; it is favoured by shippers because it usually reduces cost and transit times, especially for companies trading between China, Asia and the US.
- From October, an average of 29.5 vessels will be allowed to transit daily – down 18% from 36 in August, according to a draft plan submitted to Panama’s parliament.
Sources: Guardian