Severe drought is constraining the Panama Canal
Costs for ships to go through it are spiralling. Consumers will feel the pinch
The Panama Canal provides a short cut between the Atlantic and Pacific oceans for 6% of the world’s maritime commerce. At its maximum capacity between 38 and 40 ships can pass through the canal each day. But over the past few months far fewer ships have made the voyage. The Panama Canal Authority (ACP), which allocates reservations, has slashed this number to 24. On December 1st it will go down to 22, and from February onwards only 18 ships will be able to cross each day.
This article appeared in the The Americas section of the print edition under the headline “Cry me a river”
From the November 25th 2023 edition
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