Since early 2023, Panama has been gripped by a persistent drought, significantly reducing the passage of ships through the canal and adversely affecting global trade. Diminished water levels in the canal pose constraints on both the frequency and size of ships able to traverse it. What lies ahead for shipping as we approach the upcoming season? Will this challenging trend persist?
Our FleetWeather team have analysed the data, shedding light on how El Niño has intensified the crisis. They explore the promising shift to ENSO-Neutral conditions, and the subsequent impact if La Niña follows.
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