The Panama Canal is experiencing congestion and delays due to ongoing drought conditions, with 154 vessels waiting to cross and a wait time of 21 days. The canal is a critical trade link for US shippers, with 40% of US container traffic passing through it annually. Water conservation measures have led to reduced booking slots for vessels, and lower water level restrictions have affected transit for some ships. The situation is expected to worsen, and alternative routes may need to be considered. The delays and restrictions could result in increased costs for businesses and consumers, particularly in the clothing and shoe industry.
The post ‘This is going to get worse before it gets better’: Panama Canal Pileup due to drought reaches 154 vessels appeared first on Balanced News Summary.