Panama Canal Eases Limits That Caused Shipping Bottleneck
The Panama Canal is lifting restrictions that caused a global shipping bottleneck as water levels normalize after a severe drought.
Panama Canal Averts Shipping Crisis With Its Water Plan
The Panama Canal has managed to ward off a shipping crisis that threatened to upend $270 billion a year in global trade. It did so with careful water management — and a little bit of luck.
Update: Seroka Optimistic About Cargo Levels in 2024
Port of Los Angeles Executive Director Gene Seroka is still wary over developments in the Red Sea and Panama Canal.
February 28, 2024Panama Canal’s Drought Traffic Dip Could Cost $700 Million
PANAMA CITY — A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world’s most important trade routes.
January 18, 2024Greek Shipping Giant Warns Panama Canal Chaos May Hit Suez
Congestion at the Panama Canal could result in delays at Egypt’s Suez Canal, possibly affecting cargoes of liquefied natural gas, according to an official at Angelicoussis Group.
Panama Canal Adds Extra Queue-Jumping Auctions
The Panama Canal Authority said it will add extra slots allowing ships to pay big premiums to transit the waterway, which has become congested due to an ongoing drought.
Shippers Spend $235 Million to Bypass Panama Canal Jam
Shipping companies have paid a total of $235 million so far this year to jump ahead of the backlog at the Panama Canal, according to data from shipping agency Waypoint Port Services.
$4 Million Lets Shipper Cut to Front of Line at Panama Canal
Japan’s Eneos Group paid $3.975 million in an auction Nov. 8 to jump to the front of the line at the congested Panama Canal waterway, a record high.
Dry Panama Risks Driving Large Oil Tankers Away From Canal
Dry weather is set to force large oil tankers to completely stop using the Panama Canal, requiring the vessels to extend their voyages by thousands of miles, a shipping researcher said.
Panama Canal Says Shipping Congestion Will Last Into 2024
The operator of the Panama Canal said there’s no immediate prospect of relief from the drought that’s reduced water levels and snarled shipping and global supply chains.