🇵🇦 Tug boat is crushed by a ship in the Panama Canal.
Caught on video, a container ship forced a tugboat to be pushed against a closed locked gate in the Panama Canal. Luckily the 5 crew members of the tugboat were left unharmed, but the tugboat captain had some scathing words for the canal authority's relaxed safety procedures.
The Panama Canal faced a shipping crisis due to a surplus of capacity, prompting restrictions that affected global trade.
The Panama Canal, a vital artery for global trade, is facing a serious challenge as its water levels plummet to historic lows.
The dry season in Panama is here, and it's causing some serious turmoil for trade through the Panama Canal.
Climate change is causing a major headache for global trade as an unprecedented drought in the Panama Canal disrupts container traffic.
Shipping giant Maersk has informed clients that vessels carrying freight from Oceania (Australia and New Zealand) will no longer transit the Panama Canal due to ongoing low water levels caused by a severe drought.
Despite Panama Canal transit restrictions and efforts to curb capacity, carriers have been adding approximately 20% of incremental capacity on the Asia-US East Coast route since the end of August.
The shipping industry may struggle to secure enough carbon-neutral fuels to meet the 2030 maritime emission targets, according to DNV.
Panama is experiencing one of its driest rainy seasons on record, leading to lower water levels at the Panama Canal and restrictions on vessel weights and daily traffic.
The Panama Canal is grappling with the ramifications of a prolonged drought, resulting in low water levels and substantial vessel traffic congestion, which may persist for up to ten months, as reported by Athens-based shipbroker Intermodal.
The Panama Canal, grappling with drought conditions, has implemented a temporary measure to limit the number of new reserved passage slots in an effort to alleviate a bottleneck of ships waiting to transit without reservations.
The number of blank sailings in the global container shipping market has reached its lowest point since the pandemic began, indicating a path toward normalization, according to Sea-Intelligence.
The Panama Canal will continue to impose draft restrictions on shippers due to a drought that has caused water levels in its main lake to reach a four-year low.
The Panama Canal Authority marks the seventh anniversary of the expanded Neopanamax locks, which have transformed global shipping by accommodating larger vessels.
Ricaurte Vásquez Morales, the Administrator of the Panama Canal, recently discussed with CNBC's Lori Ann LaRocco the impact of drought on the Panama Canal and its implications for shippers.
The Panama Canal, facing its driest period in over a century, has imposed transit restrictions since May, leading to reduced container loads for large vessels.
According to complaints filed with the U.S. Federal Maritime Commission (FMC), all of the top ten ocean container carriers have been accused of price gouging and unfair practices by shippers over the past 18 months.
Supply chain disruptions caused by water logistics constraints have recently made headlines, from the Suez Canal blockage to the weight and draft restrictions in the Panama Canal.
Panama has been experiencing an extended period of drought, with no signs of improvement in the coming weeks or the rest of the spring season
Shipping companies are increasing their rates to ship containers from Asia to the US as they attempt to offset a fall in rates ahead of the importing season.
Caught on video, a container ship forced a tugboat to be pushed against a closed locked gate in the Panama Canal.
G Captain Founder and CEO Captain John Konrad is signaling the importance of changing how banks int he US operate when funding shipyards and naval security.
Container lines have historically been able to withstand increases in vessel capacity, but a massive increase in capacity could potentially pose challenges for the industry.
The Panama Canal has long served as a convenient shortcut for ships crossing between the Pacific and Atlantic Oceans, making up a series of lochs that serve a plethora of ships each day.
A survey of large shippers over the past twelve months shows that 62% of companies are viewing cost-reduction strategies as a top priority next year.
Containers are no longer in hot demand, so retail orders, shipping containers, and ship sailings are being canceled left and right.
With a recorded 2022 revenue of over $22 billion, the ocean logistics company is reporting higher volumes as compared to last year.
Globally, container shipping is still skyrocketing in profits.
Hapag-Lloyd is shipping 18k TEU’s and decarbonizing the heavy transport with advanced biofuels such as FAME - a fatty acid methyl ester.
After a challenging six months marked by the driest October in 73 years, the Panama Canal is finally seeing a turnaround.