Tuesday, October 3, 2023

The line of ships waiting to pass through the Panama Canal decreases by 20%

Panama. The Panama Canal reported Tuesday that the queue of ships awaiting passage through the interoceanic route includes 108 ships, including both entrances, down 20 percent compared to the same day last week, at moments in where the measures to limit the passage of ships and the ongoing drought are maintained.

Last Tuesday, 135 ships were waiting to pass the route, a number down by 27, the canal authority said in a weekly report. “Fewer ships are waiting,” the company said, noting that the current queue is “normal for this time of year” due to high demand a few months before the end of 2023.

The queue of waiting ships increased in August when the highway imposed restrictions on the number of daily transits due to low water levels in the lakes that provide the necessary water resources.

Queues have formed in the global supply chain in recent weeks and are a cause for concern. Risk rating agency Moody’s believes that if ship restrictions are extended, prices for transportation, grain, oil and derivatives, and LPG will become more expensive.

A longer dry season and the phenomenon of The young They prompted the Panama Canal to implement water conservation measures earlier in the year to maintain high levels of reliability. Despite this, the highway was forced to limit the daily number of boats to 32 at the end of July, compared to 36 to 38 crossing the route during a normal time.

The company reiterated that the measures adopted will remain in place for the remainder of 2023 and throughout 2024, provided weather conditions do not change significantly compared to current forecasts.

The rainy season, which normally lasts from April to December, has been delayed and the first heavy rains were recorded in July and August, albeit intermittently. Rainfall is critical to maintaining the levels of Lakes Gatun and Alajuela, which supply freshwater to the canal and provide water for much of the population.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com/
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news