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Picture this: more than 200 vessels are waiting in front of the gateway to the world: The Panama Canal. A maritime logjam of historic proportions, all eagerly awaiting their turn to traverse the famed canal. Almost an unthinkable situation right?
The reason behind this is even more mind blowing. Would you expect these ships to be waiting because of a shortage of water? But this story has many more snags. Yet, the prospects grow bleaker still, as the Panama Canal Authority has made the unprecedented move of slashing the number of permitted transits by a staggering 50% in the early months of 2024.