By Obiabin Onukwugha
The Panama Canal is set to further reduce the number of daily ship transits due to a severe drought.
The Panama Canal (Spanish: Canal de Panamá) is an artificial 82 km (51 mi) waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, cutting across the Isthmus of Panama, and is a conduit for maritime trade.
The Canal reduces the time for ships to travel between the Atlantic and Pacific oceans, enabling them to avoid the lengthy, hazardous Cape Horn route around the southernmost tip of South America via the Drake Passage or Strait of Magellan. It is one of the largest and most difficult engineering projects ever undertaken.
This development was made known by the Panama Canal Authority which announced on Wednesday that it intends to further decrease the number of daily ship transits to 18 from the earlier 31 as from February 1st next year.
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According to the PCA, starting November 3rd, the booking slots for transiting the canal will be reduced to 25 per day, which is a further reduction from the already lowered number of 31 per day.
The reduction is sequel decrease in rain fall which has affected the ability of its primary source, Gatun Lake, which relies on rainfall for replenishment to supply water.
Since October, the lake’s water levels have reached critically low levels, with a 41% reduction compared to historical averages.
The Canal Authority noted that 2023 is the second driest year for the month of October, since 1950.
It also noted that the El Niño weather phenomenon has been a contributing factor to the drastic reduction in rainfall this year, exacerbating the water shortage.
“As a result of these restrictions, numerous ships are experiencing delays, with many vessels awaiting passage near the canal. The backlog of ships is expected to impact the cost of shipping goods globally,” the PCA observed
