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...Holt said the Covid-19 pandemic, geopolitical tensions and supply chain disruptions at the Suez and Panama canals highlighted the need for diversification of manufacturing....
...A new reservoir for the country’s canal — to help boost shipping revenues as incidences of severe drought increase — is still awaiting approval....
...But the Suez and Panama Canal routes have few viable alternatives....
...The number of ships allowed to cross the Panama Canal daily will be slashed in the coming months as climate change increasingly rocks global trade....
...“The Panama Canal urges its customers to make reservations in order to transit as programmed.”...
...The next government will have to seek a solution to severe water shortages in the Panama Canal, which is operating at severely reduced capacity because of a drought....
...Shipowners and importers have warned that a drought in the Panama Canal and a spate of attacks on cargo vessels 11,500km away near the Suez Canal risk constraining traffic ahead of the festive season....
...[MUSIC PLAYING] Marc Filippino The Panama Canal is the gateway for shipping trade between the Atlantic and Pacific oceans....
...One of the worst droughts on record has hit the Panama Canal, which relies on huge freshwater volumes for its operation, this year....
...They looked at the possible consequences if both the Panama and Suez Canals become impassable....
...Deforestation in the Amazon may be causing the Panama Canal to dry up, threatening one of the world’s big chokepoints for goods trade....
...In recent weeks that has fused with worry, especially among younger Panamanians, about climate change as the country’s canal suffers record droughts....
...Analysts warned that the tragedy comes at a time when the shipping industry is beset by problems such as drought in the Panama Canal and conflict in the Red Sea....
...But the mass protests coincided with a historic drought that has limited freight traffic through the Panama Canal, threatening a valuable source of revenue....
...There have also been big cuts to the capacity of the Panama Canal, a key route between Asia and the US East Coast, as a result of a drought that has lowered water levels in that canal....
...Mexico is reviving a century-old railway in a $2.8bn bid to steal container traffic away from the Panama Canal....
...Together with the world’s other great shipping canal, Panama, being severely affected by drought, the supply shock to freight might finally have arrived....
...Worsening drought means the number of ships allowed to cross the Panama Canal each day will be slashed in the coming months....
...This is not the first time the Panama Canal has imposed depth restrictions....
...Specification: Supply chains, Climate change Click to view the article below and then answer the questions: Severe drought in Panama hits global shipping industry “The Panama Canal is really the wild...
...The Panama Canal has also had to limit passages, in its case because of drought....
...Plus, the FT’s Christine Murray explains how the shipping industry is dealing with a severe drought that’s slowing down traffic through the Panama Canal....
...Andrew Hollenhorst, an economist at Citi, noted that shipping disruptions in the Panama and Suez canals, and now on the US east coast following the collapse of a bridge at Baltimore’s port, meant goods prices...
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