As previously mentioned in our July 27th Newsletter, the Panama Canal remains increasingly congested due to new restrictions set as a result of the ongoing drought. As of August 10th, there were reportedly 161 vessels near the canal, which is an increase from the average of 90 ships typically seen during the rainy season. The average wait time is currently estimated at 21 days with 154 commercial vessels waiting to cross the canal. It is important to note that 40% of all US container traffic travels through the Panama Canal every year, shippers should expect to see some delays and impacts from the reduced passages.
Please reach out to your KRIEGER Worldwide representative should you have any questions regarding your trade lanes or would like to discuss alternative solutions.