Canals set to face coronavirus challenge as shipping slows — Panjiva


Canals set to face coronavirus challenge as shipping slows

Corp - Shipping 722 Global 1006 Mode - Seaborne 1470 Theme - Canals 95 U.S. 4088

The draft of vessels able to use the Panama Canal has been cut due to a water shortage. The Canal also faces challenges from reduced global trade relating to the spread of coronavirus. Yet, as of February, that drag has yet to be seen with a 4.7% year over year increase in the number of vessels using the Canal. That’s lagged the Suez Canal which saw a 12.7% surge. Signs of the potential impact from coronavirus disruptions on the Panama Canal can be seen in U.S. port activity – one use for Panama is to divert Asian traffic from the U.S. west- to east coasts. U.S. seaborne imports from eig...

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