Panama Canal to Reduce Shipping over El Nino-Fueled Drought
- The Panama Canal Authority announced yesterday it will reduce daily shipping volumes starting next month due to severe drought, affecting the strategic waterway linking the Atlantic and Pacific Ocean.
- Driven by the Nino weather phenomenon, Central America faces severe drought that has limited rainfall in the canal's watershed, necessitating measures to bolster the waterway's "long-term sustainability."
- The Panama Canal handles five percent of global maritime trade and around 40 percent of US container traffic; daily vessel limits will drop from 36 to 34 starting September 3, then to 32 by September 15.
- Beyond canal operations, Honduras placed 80 percent of that Central American country on drought alert Wednesday as this year's Nino shapes up as one of the strongest on record.
- Nino occurs on average every two to seven years, triggering worldwide climate changes, while the Panama Canal Authority continues monitoring watershed rainfall to ensure the strategic waterway's long-term viability.
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In the face of the expected magnitude of the El Niño climate phenomenon, the Panama Canal announced that traffic would be reduced as early as September in the area. About 5% of the world's maritime trade transited there. By 2023, the historical drought had had a heavy impact on world trade. - El Niño: the Panama Canal will reduce its traffic, what consequences for world trade? (Economy).
The Panama Canal will limit the number of ships that can pass through it daily due to a lack of water. The problems are caused by low rainfall associated with a rapidly strengthening El Niño. Its effects could be felt far beyond Panama's borders and affect the global economy.
The number of ships authorized to pass will fall from 36 to 32 from mid-September. Meanwhile continues the legal battle on the Channel: Ck Hutchison has asked Panama for compensation damages from beyond 1,5 billion dollars for the seizure of the ports of Balboa and Cristobal
The climate phenomenon El Niño causes long-lasting drought in the region. From mid-September, only 32 ships are allowed to pass through the Panama Canal every day, which could exacerbate the energy crisis in Asia.
The Panama Canal will reduce the number of ships passing through it from next month due to drought caused by the El Nino phenomenon, the company that manages the strategic waterway connecting the Atlantic and Pacific oceans said on Thursday.
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