Drought in Panama and war around the Red Sea and Suez is a slow-burning but developing crisis for the container shipping industry as both canals become choke points that could see freight rates double.
As the rainy season in Panama comes to an end, and notwithstanding the announcement that rain has raised water levels allowing the Panama Canal Authority to increase the number of daily transits, the outlook for next year remains tight.
Chief analyst at Xenata, Peter Sand, said the dry season could...
https://container-news.com/panama-canal-drought-could-boost-new-year-rates/