By Dominic DeWitt
Posted on to •
4 1 minute read
Posted on to •
4 1 minute read
The Panama Canal, which is crucial to global trade worth $270 billion, is suffering from low water levels that limit the movement of shipping. There are no simple solutions to the region's persistent drought.
Why is this important?
The Panama Canal is an important traffic artery, accounting for five to six percent of global maritime trade. The canal is used by more than 14 thousand ships annually, an average of 40 ships per day. More than 90 percent of shipping traffic is related to sea vessels. Container ships sail through the canal most often; About 3500 annually.In the news. A severe drought in Panama has paralyzed the waterway that transports 5 to 6 percent of global maritime trade annually With a value of $270 billion Integration.
- Drought restrictions due to insufficient rainfall in Lake Gatun, which feeds the canal, have meant that ships have to deal with an additional six transit days.
- The Panama Canal Authority is studying possible solutions, including creating an artificial lake to pump water into the canal and cloud seeding to control the water flow.
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