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Containers Tankers and Gas Panama

NOAA upgrades El Niño warning and outlook for Panama Canal worsens

  • NOAA now puts odds of ‘very strong’ El Niño at over 90%, with 69% chance that conditions in October-December will be the most severe on record
  • Panama Canal draught restrictions are already limiting box loads and spurring widespread surcharges from container lines
  • Draught restrictions coincide with high demand for canal transits; demand has spurred the highest weekly average transit slot auction prices on record

  • Analysis

The shipping world is already a minefield of myriad chokepoints. It increasingly looks like there will be another one around the corner, in Panama, due to the weather, not geopolitics

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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