In 2021, cargo ship Ever Given captured world attention when it ran aground in the Suez Canal, causing—as Bloomberg noted—a global trade crisis. Authorities controlling the Panama Canal Zone in Central America took notice and are now trying to prevent a repeat performance in their own canal. Quartz reports that as of this weekend, large ships crossing between oceans in Panama will be hit with new depth limits. According to Reuters, ships will have to offload cargo if the total weight would require more than 43.5 feet of water.
As the Maritime Executive noted in early June, depth limits in the Panama Canal aren't new, given that the Canal Zone is no stranger to drought conditions. But this is, in fact, "the worst drought in a century," according to the Wall Street Journal, which says further restrictions could ensue. A particular concern: "Water levels in Gatun Lake—located in the center of the canal—could hit record lows in July with the occasional climate event El Nino bringing higher temperatures and less rain." (The Journal has a graphic explaining how the canal, which relies on rainfall, works.)
Quartz notes that the Panama Canal's new restrictions will have a strong effect on trade routes between Northern Europe and the South American West Coast. Overall, the canal handles 3.5% of global trade. As for El Nino, Fox Weather reports some forecasters believe 2023-24 is bringing a "super El Nino." If so, the Pacific drought could worsen. (More El Nino stories.)
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