Zero Hedge
By Tyler Durden – August 21, 2023
A parking lot of vessels has formed on either side of the Panama Canal as a worsening drought in the Central American country has reduced the number of ships able to sail through one of the world’s most important trading routes.
The Wall Street Journal counts more than 200 vessels “currently waiting to transit, a figure that has been climbing since the canal capped daily transits to 32 last month from an average 36 under normal conditions.”
Pacific and Atlantic entrances of the critical waterway are dotted with vessels. WSJ said some ships are waiting “more than 20 days” for access to the canal, forcing some carriers to reroute because of the bottleneck.