Panama Canal runs dry, another crisis for global trade. The drought that has been lasting for months due to the El Niño climate phenomenon continues to limit transit capacity in the Panama Canal.
It has a further impact on global foreign trade already in crisis due to Houthi attacks on merchant ships in the Red Sea. If the climatic conditions do not improve the risk is that of having to further reduce the daily transit up to a minimum of 18 ships against the 24 currently and 32 in 2023 with losses estimated between 500 and 700 million dollars in 2024.