Panama: The Panama Canal will extend transit restrictions due to low water levels caused by the drought.
Earlier this year, the canal authorities initially introduced restrictions, leading to ships waiting to pass through. However, they announced an extension of these restrictions for at least another 10 months.
The Panama Canal is vital for maritime trade routes, facilitating the smooth passage of ships between the Atlantic and Pacific. It may operate at reduced capacity for about a year due to low water levels.
Because of the restrictions, some ship owners have had to reduce their cargo or find different routes. Espino suggests that vessel owners should book their slots in advance to prevent delays. Official data shows that there are currently approximately 115 ships waiting in the backlog.
Officials are expecting these restrictions to last until the next rainy season. The shortage of rainwater makes it challenging to operate the locks, which serve as water elevators for moving ships.
This 80-kilometre (50-mile) canal primarily caters to ships from the United States, China, and Japan, with an average of 32 daily crossings. This figure has decreased from 40 crossings per day in 2022.
Previously, ships would wait for entry, usually for three to five days, but now the average wait time has surged to 11 days.
In 2016, the canal expansion project was finished and hailed as a success for trade between North America and Asia.
Recently, Panamanian President Mr. Laurentino Cortizo criticised Colombian President Mr.Gustavo Petro for suggesting that the canal is closed because of a drought.
TRENDING | Italy’s drought dries up Lake Garda & canals of Venice
