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When I saw this story on the news it took me back a couple of years ago when COVID was causing shipping and supply chain problems that affected most everyone.
Basically the reservoir that supplies water for the Panama canal (Gatun Lake) is low due to a drought which is causing a shortage of water to operate the Panama canal. It sounds like it is going to get worse before it gets better. One article I saw said that shippers are paying $400K extra (on top of the normal $400K canal charge) to put their cargo ships at the front of the line. Sounds like the cost of anything being shipped is going to go up.
40% of all U.S. container traffic travels through the Panama Canal every year,
Basically the reservoir that supplies water for the Panama canal (Gatun Lake) is low due to a drought which is causing a shortage of water to operate the Panama canal. It sounds like it is going to get worse before it gets better. One article I saw said that shippers are paying $400K extra (on top of the normal $400K canal charge) to put their cargo ships at the front of the line. Sounds like the cost of anything being shipped is going to go up.
Panama Canal's low water levels could become headache for consumers
A longer dry season and a less rainy wet season have led to a shortage of freshwater to feed the Panama Canal.
abcnews.go.com
40% of all U.S. container traffic travels through the Panama Canal every year,
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