Panama Canal Crisis: Why Ships Are Paying Millions to Skip 8,000-Mile Detours
The Panama Canal faces unprecedented challenges as climate change and operational pressures threaten its role as a global trade artery, with 5% of worldwide maritime commerce hanging in the balance. Recent developments reveal: Drought Drastic Measures The canal authority has imposed strict draft restrictions (44-47 feet) and daily transit limits (24-32 ships), down from 36-40…