As the Panama Canal deals with an ongoing drought and the worst El Nino in recent history, 40% of vessel traffic will be cut by February.
The Panama Canal Authority is starting new cuts in vessel traffic which will reach over a 40% reduction of vessels by February due to an ongoing drought.
Starting Friday, the Panama Canal Authority is implementing additional vessel reductions in an effort to conserve water as a drought exacerbated by a severe El Nino weather system continues to plague water levels in the locks of the key global trade conduit. "With a reduced transit schedule and an average of 26 daily arrivals by commercial ships per day on the Pacific side of the canal, and an average of 8 daily arrivals by commercial ships per day on the Atlantic side of the canal, the likelihood of cargo waiting idle will increase," said Captain Adil Ashiq, head of North America for MarineTraffic.
Jon Davis, chief meteorologist at global supply chain mapping and risk analytics company Everstream Analytics, tells CNBC that since a significant portion of global commerce is transported through the Canal, the items that are impacted cover all sectors. "This may start a shift in bookings for Transpacific freight destined to the U.S. East and Gulf through the Suez Canal, which is located in a region with significant geopolitical headwinds," said Paul Brashier, vice president of drayage and intermodal at ITS Logistics.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Germany 40 IG Client Sentiment: Our data shows traders are now net-short Germany 40 for the first time since Oct 16, 2023 when Germany 40 traded near 15,241.50.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 40-bullish contrarian trading bias.
Weiterlesen »
France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since Oct 12, 2023 when France 40 traded near 7,081.90.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bullish contrarian trading bias.
Weiterlesen »
Panama Canal to Halve Daily Sailings This Winter Due to DroughtThe Panama Canal is running out of water, threatening the global supply chains and industries that depend on it. WSJ takes you inside the canal’s operations to understand what this means for the future of this vital shipping route.
Weiterlesen »
The 40 Best Gifts for Men in 2023 — Unique Gift Ideas for Every Type of GuyFrom tech gadgets to self-care faves, we have all the best gift ideas for men this holiday season.
Weiterlesen »
40 Stocking Stuffers for Adults That They'll Actually WantAll products and services featured are independently chosen by editors. However, StyleCaster may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.
Weiterlesen »