Name: Panama drought threatens global trade route
Uploaded: 2023-08-09T14:51:25.514Z
Duration: 2 min
Description: The Panama Canal is becoming the new face of climate change, as drought is restricting the trade route. Lowering water levels are now threatening to make the canal impassable.

The Panama Canal is becoming the new face of climate change, as drought is restricting the trade route. Lowering water levels are now threatening to make the canal impassable. 

Panama Canal

Extreme weather events are occurring more frequently amid rising sea-levels and increasing temperatures.

Climate Crisis

Panama drought threatens global trade route

The Panama Canal is directly threatened by climate change. The 82-kilometre trade route, which links the Atlantic to the Pacific Ocean, has seen its water drop to unprecedented levels. This photo shows the surrounding zone of the canal ten years ago, and these were the conditions just a few months ago. Meteorologists say the El Niño phenomenon in Central America is causing more and more heat waves and droughts, affecting the canal, which relies on water from two nearby lakes to get ships across. Each vessel requires 200 million litres of water, but with the droughts the number of ships transiting has been cut down from 40 to 32 per day. The Panama Canal administrator says 2023 is the driest year on record, issuing a warning on the effects it could have on maritime traffic. We have to find solutions in order to remain a relevant route for servicing international trade. If we don't adapt, then we are going to perish. The Panama Canal supports six per cent of the world trade, but the conditions could push ships to find new routes like south of Latin America or via the Arctic in the summer. Experts warn certain supply chains could also be disrupted, such as coffee, biscuits and chocolate. We will see repercussions in global supply chains. These will differ. Dry bulk products like coal, iron, ore or oil, they will not be affected because they can probably be rerouted. When it comes to fresh produce, which are particularly important for Europe, then we will have significant impacts. They will also have to pay the additional price for being shipped through the canal. If droughts persist, the Panama Canal could be forced to continue limiting daily transits, losing up to 200 million euros of revenue by 2024.

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