The Panama Canal expects to increase the number of daily transit slots for vessels to 36 from the current 34 beginning in September, the canal's deputy administrator said, as rains allow authorities to ease drought-imposed restrictions.Panama experienced its third-driest year on record in 2023
The El Nino climate phenomenon, not climate change, drove lower rainfall last year that reduced the Panama Canal's water levels and contributed to shipping restrictions that disrupted global trade, a study released on Wednesday found.Prioritizing water for human consumption rather than for the canal also played a role in shipping restrictions
Capacity reduction on the Panama Canal have hurt dry bulk market, with dry bulk carrier transits down significantly (down 74% in the Q1 '24 vs. '23, with sailing distances up 31% and cargo volume down 25% year on year, according to BIMCO shipping analyst Filipe Gouveia.Low water levels in lake Gatun have caused restrictions in the number of transits through the Panama Canal at a maximum draft
Rescue teams searched waters in central Indonesia on Wednesday for 24 fishermen missing since their boat sank at the weekend, with hopes kept alive by the discovery a day ago of 11 survivors who had been floating at sea for three days.The boat with 37 crew went down on Saturday near Selayar Island off South Sulawesi province, according to the search and rescue agency
The Panama Canal sees no need for further vessel transit restrictions until at least April, when its authority will evaluate water levels at the end of the dry season, Deputy Administrator Ilya Espino told Reuters.A severe drought last year forced the canal to reduce the number of vessels allowed to pass per day.