Panama Canal drought hits new crisis level amid severe El Nino

News Snapshot:

The container ship Maersk Bogor is guided by a tugboat as it prepares to enter the Miraflores locks while transiting the Panama Canal on September 22, 2023 in Panama City, Panama. The Panama Canal Authority is continuing to restrict the number of vessels that pass through the Panama Canal locks as drought has caused water levels at Gatun Lake to drop. According to Project44, shipping containers going through the Panama Canal to the U.S. East Coast are being delayed in select ports, with the Port of Charleston seeing the longest in delays. According to Panama Canal authorities, the drought requires...