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Panama CapacityFriday, November 17, 2023
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Dear Customer,
Please note that vessel operations are being affected by drought conditions in the Panama Canal.
In response to the unprecedented low water levels, the Panama Canal Authority (ACP) has had to reduce the draft level of the canal and adjoining waterways.
It is expected that due to worsening conditions (“the month of October is the driest since the earliest registers, 73 years ago”), draft levels will continue to be reduced as will the daily transit capacity.
Although containerships are being prioritized via the canal at current, it is expected that the market will be impacted as the restrictions persist.
Carriers will have no choice but to consider re-routing cargo via alternative channels increasing transit times and rates.
We continue to monitor the situation and will provide further update as new information is made available to the industry.
Sincerely,
HENSALL GLOBAL LOGISTICS |
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