Drought Restrictions in Panama Canal to Continue Into 2024

Restrictions on shipping going through the Panama Canal are likely to persist through 2024, canal authorities say. The Wall Street Journal reports that drought conditions that have hobbled operations and triggered big vessel backlogs are likely to persist at least into next year.

Because of the drought, the canal will continue to limit the number of ships that can pass through the canal daily to 32 from 36 in an effort to conserve the water needed to operate the 12 locks that allow ships to be lifted up and down as much as 85 feet. Water comes from Gatun Lake, via three large culverts, in order to lift the ships, and then is drained into the sea to allow the ships to descend to the next level. Each lock chamber requires approximately 27 million gallons of water.

The daily limits have contributed to a backlog of 116 vessels waiting to cross, well above normal, but below the more than 200 ships that were stuck last month. Some ship-owners have been rerouting traffic to avoid having vessels held up. The WSJ says the impact has hit bulk carriers the hardest.

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• Source: https://www.supplychainbrain.com/articles/38123-drought-restrictions-in-panama-canal-to-continue-into-2024