Delays at the Panama Canal averaged about 15 to 19 days per vessel in the first week of August, with low water levels in the Gatun Lake restricting the numbers of fully-laden vessels able to make the transit. Effected by what it has described as an “unprecedented” drought, the Panama Canal Authority has shaved around 2 m off its maximum draft for its neopanamax locks as well as slashing the maximum amount of daily transits by 20% to just 32 voyages a day.
The changed operating conditions are seeing ships from all segments facing delays, with vessel tracking data showing enormous queues at both sides of the waterway.
“The Panama Canal delays are a reminder of the urgent need to address climate change. The shipping industry is one of the most vulnerable sectors to the impacts of climate change, and we need to take action to reduce our emissions and mitigate the risks,” commented Thomas Zaidman, managing director of Sagitta Marine, a dry bulk owner and operator.
While rains have returned to Panama, the authorities are unlikely to make any upwards revision on drafts or the number of transits anytime soon aware of the effects of this year’s El Niño weather phenomenon which tends to bring drier weather to the country later on this year.
Indeed, the canal authority has conceded it could take a hit of up to $200m in earnings for next year if conditions persist.
As a stark reminder of the changed conditions there was little fanfare to the welcome of the 17,312 teu Ever Max last week, which became the largest boxship to ever transit the waterway. The reason? The vessel (pictured above), having paid $1.5m in tolls, was forced to unload 1,400 teu at the port of Balboa to meet today’s 13,345 teu draught restrictions. The containers were taken by rail to Colon and reloaded there for onward shipment to Savannah.
“The Panama Canal is really the wild card in the container shipping market right now because of the potential impact it may have on freight rates and US imports from the Far East from one week to the next,” Peter Sand, chief analyst at freight rate platform Xeneta, told Splash today.
After the reduction of transits was set to 32 in late July, Sand said the “slack has gone”.
Noting the recent successful rise in general rate increases (GRIs) on the transpacific, Sand said: “Something is boiling right now, and shippers should consider their options and manage their risks as Panama congestion is on the rise, mostly backhaul/southbound, but also on the fronthaul.”
““The Panama Canal delays are a reminder of the urgent need to address climate change. ”
How many are aware that the majority of those who deny the reality of AGW & ACC do so based on biblical literalism? There are two main camps, one that maintains it is their EndTimes and the other that puny homo sapiens can not affect their god’s perfect creation.
Are you also aware that Will Happer, Tim Ball, John Christy and Roy Spencer try to make science fit their faith?
Roy Spencer, NASA. Believe it or not, very little research has ever been funded to search for natural mechanisms of warming … it has simply been assumed that global warming is manmade.” Which is a blatant lie, as he well knows.
He lies about consensus, he lies about the greening
John Christy and Roy Spencer sat by for most of a encouraging the use of their data set as an icon for global warming sceptics. They committed serial errors in their data analysis, but insisted they were right and models and thermometers were wrong. They did little or nothing to root out possible sources of errors, and left it to others to clean up the mess, as has now been done.
Spencer : “Earth and its ecosystems—created by God’s intelligent design and infinite power and sustained by His faithful providence—are robust, resilient, self-regulating, and self-correcting
That is the root cause of the problem but no-one wants to face up to it. Until it is we will continue fighting lying religious scientists and politicians and business leaders.
What is causing global warming? Is it nature causing perhaps? How does one explain why the Torres Straight Islander Mobs every now and then have to move the buried ancestors further inland because of rising sea levels causing soil and sand erosion. Along the Great Ocean Road in Victoria Australia which is part of the shipwreck coast is also experiencing sand erosion? What is causing the worst bushfires season in America and Canada and then major flooding that was happening in various parts of Australia? I don’t think it’s man made I believe it is just how nature is. Like you I am not a Christian because there is too many crazy ideas and ideologies happening in some of the churches as well other religions and I found that most churches were ableists, audists, a bit racist and homophobic, transphobic and intersex phobic. Some of my fellow petitioners are petrified that we are going to become slaves as a result of The Great Reset mentioned in the Bible Revelations Chapter 11. It is ideology gone overboard
“What is causing global warming? ” Many things, which is why I specifically stated “AGW & ACC”, so thanks for not understanding science or reality.
His statement makes no sense. Even if climate change were addressed in full by the end of business today it would make no difference for years or decades at the earliest, perhaps never.
Don’t know much ab0ut reality do you.
The Panama Canal has always been busy, so it’s understandable why it’d be even busier with the low water levels. So yes, we really need to be serious with climate change. If things deteriorate further, the shipping industry would be one of the major ones to be hit.
Global warming is responsible for rising sea levels and costal flooding. I know the Chagres River feeds lake Gatun and there was serious flooding in Panama just last year. Could the water demand of the supersized pana-ultra-max carriers be in any way responsible for the lower lake level? I don’t think humans are powerful enough to change the climate.
“I don’t think humans are powerful enough to change the climate.” Then you are a science illiterate.
You are the typical Liberal. You call anyone that doesn’t agree with you names and claim their ignorance. Funny how people like you are talking about Global Warming. So it is agree with you 100% or you are ignorant. The same people ( like you ) in the late 1970’s and early 80’s were talking about a new Ice Age. Which is it; Cause you can’t have it both ways. The overall temperature for the planet is less than 1 degree increased in the last 20 years.
You were telling us in the early 2000’s that we had 10 years before the end was hear. Then that was extended another 10 years twice. Why has it been extended twice? Because the end of the planet is not near. The real answer is the planet has warming and cooling periods. If man is the cause then how do you explain the warming periods in the Middle Ages? There were no Cars, Planes, Trains etc..
The only Science deniers tactic is the lazy man’s way to try and win an argument. There are many reasons for Climate Change. It isn’t all manmade despite what know it all’s like you think.
You are the typical gullible ignoramus. I’m amazed that people are still parroting those long debunked myths.
You are referring to the alleged panic in the 70s because scientists were all warning of global cooling. A standard lying denier claim. The truth is somewhat different
‘1975 Newsweek article ominously titled “The Cooling World.””
http://journals.ametsoc.org/doi/abs/10.1175/2008BAMS2370.1
https://link.springer.com/chapter/10.1007%2F978-94-007-5757-8_24
“the warming periods in the Middle Ages?” For starters that was local and not global, so you are proving your ignorance. Again. “During the Medieval Warm Period, some places were warmer and some places were colder than usual and on average, the global temperature was certainly cooler than now. Additionally, the cause of the climatic changes in medieval times occurred due to natural causes, so they died down on their own. The same cannot happen now as the changes are now human-made.”
“The overall temperature for the planet is less than 1 degree increased in the last 20 years.” Which is cause for serious concern, isn’t it.
“You were telling us in the early 2000’s that we had 10 years before the end was hear” Nice try at taking things out of context. Am I surprised? not at all, in fact you probably don’t know what your are actually referring to and just repeating bs. Your entire post proves that.
“There are many reasons for Climate Change. It isn’t all manmade despite what know it all’s like you think.” Indeed, that is why it is specifically referred to as AGW & ACC.
Come back when you understands facts and physics.