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Panama Canal traffic falls to 29% as climate change brings severe drought
Posted on October 17, 2024 |
Traffic in the Panama Canal dropped by 29% over the past year due to a severe drought linked to climate change, affecting cargo volume.
Cargo shipped through the canal decreased by 17% over the year, reaching a total of 423 million tonnes.
The region faced its worst drought in decades, partly caused by the ocean-warming El Niño, which lowered reservoir levels.
To manage the water shortage, the canal authority cut the daily ship crossings from 38 to 22.
Conditions have improved since the rainy season started in May.
Around 5% of global maritime traffic passes through the Panama Canal, which the United States built between 1904 and 1914.
Major users of the canal include China, Japan, South Korea, and the United States, and the authority expects business to recover by 2025.