Panama Canal navigation restrictions! Daily ship traffic will be reduced again starting in November! Dozens of ships are waiting to pass..
According to Reuters, on October 30, local time, the Panama Canal management stated that due to a severe drought, the Panama Canal will further reduce ship traffic in the next few months. Existing restrictions have caused lengthy delays, with dozens of ships waiting to pass through the canal.
According to reports, the Panama Canal Authority (ACP) stated in an announcement on the evening of October 30 that starting from November 3, the Panama Canal’s traffic quota will be reduced from 31 to 25 per day, and will be reduced in the next three It will be gradually reduced within the month and is planned to be reduced to 18 places per day by February 2024.
Existing restrictions have caused lengthy delays, with dozens of ships waiting to pass through the canal.
The Panama Canal is located in Central America and connects the Atlantic and Pacific water systems. It is one of the world's important shipping routes.
According to reports, in recent months, the ACP has implemented various traffic restrictions to protect scarce water resources. The Canal Authority previously announced that due to the ongoing drought, it will adopt ship traffic restrictions from July 30, but did not specify the end date of the traffic restrictions.
ACP stated that the water level of Panama’s artificial lake, Lake Gatun, the main local rainwater storage reservoir, has dropped to an unprecedented low in 2023.
The precipitation recorded in October 2023 was the lowest since records began in 1950 (41% lower than 1950), and 2023 was also the second driest year since 1950, the ACP said.
El Niño and excessively warm tropical ocean temperatures in the central and eastern Pacific are reportedly causing the Panama Canal drought.
The U.S. Energy Information Administration's analysis highlights that delays in the Panama Canal have reduced the number of available ships worldwide, raising shipping rates elsewhere. Will further increase transportation costs.
