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Learn how industries are adapting to the Panama Canal drought. Bridge the gap with Resilinc! https://okt.to/qShI3W #shipping #logistics #supplychain

Learn how industries are adapting to the Panama Canal drought. Bridge the gap with Resilinc! https://okt.to/rCBwcv #shipping #logistics #supplychain

Learn how industries are adapting to the Panama Canal drought. Bridge the gap with Resilinc! https://okt.to/ogVLAp #shipping #logistics #supplychain

🔍🚢 Did you know that the Panama Canal is facing a drought? This can have significant implications for shipping costs and routes, as well as various industries relying on this important trade route. But don't worry, there's a solution! 🌊💼 Resilinc has just released a special report titled "Bridge the Gap: How Industries are Adapting to the Panama Canal Drought" that sheds light on the current situation and provides insights on how industries can overcome these challenges🎯 This report delves into the impact of the Panama Canal drought on shipping costs and routes. It also highlights the key industry impacts and how various sectors can proactively prepare for disruptions and minimize their impact on business operations. 🗂️ Whether you work in logistics, supply chain management, or any industry dependent on the Panama Canal, this report is a must-read! It offers practical solutions and strategies that can help ensure your operations remain resilient and adaptable. 📚 Click the link below to access the Resilinc Special Report and stay informed on how industries are adapting to the Panama Canal drought: https://okt.to/buICd3 #PanamaCanal #Shipping #SCRM

Learn how industries are adapting to the Panama Canal drought. Bridge the gap with Resilinc! https://okt.to/ZdWKky #shipping #logistics #supplychain

Learn how industries are adapting to the Panama Canal drought. Bridge the gap with Resilinc! https://okt.to/u8FhwG #shipping #logistics #supplychain

Panama Canal Disruptions: Another Supply Chain Risk on the Horizon The Canal de Panamá, a critical artery for global trade, is facing yet another challenge as it struggles to recover from a historic drought. According to Christine Murray, Oliver Telling, and Shotaro Tani of the Financial Times, the canal's capacity has been significantly reduced, forcing many LNG and grain traders to seek longer, more costly routes around Africa. Despite the challenges, the Panama Canal Authority is hopeful that higher rainfall will restore near-full capacity by September. However, the broader implications for global supply chains are concerning. As Roar Adland (Ph.D., FICS) from SSY notes, the canal has become "a less attractive option" for low-value goods, with businesses facing extra costs and reduced flexibility. This development is yet another reminder of how climate change is reshaping global trade routes, potentially driving up costs and causing further disruptions. As Alex Froley from ICIS points out, many ships may continue to take alternative routes, adding pressure on an already strained global supply chain. As recent events in the Cape of Good Hope have shown, seasonal weather disruptions can also impact alternative transit options, adding further complexity to options. For a deeper dive into these issues, read the full article in the Financial Times below. #SupplyChain #Logistics #PanamaCanal #GlobalTrade #ShippingIndustry https://lnkd.in/ebuYVTX8

50% decline in Suez Canal and Panama Canal transits due to recent events. Two of the world's most important choke points for international #shipping. This is already having widespread implications on global service schedules and rates. #logistics #RedSea #SuezCanal #PanamaCanal https://lnkd.in/eiXStS7S

Will the Red Sea crisis and Panama Canal drought drive inflation higher? 🚢 Due to attacks by Houthi rebels on cargo ships and tankers, hundreds of boats are avoiding the Suez Canal, one of the most significant waterways in the world, as a result of the Red Sea shipping crisis. Rather, these ships are being compelled to take an extended detour across southern Africa, adding thousands of miles to each voyage and significantly raising freight prices and transit times. Many auto companies in Europe have already declared temporary production stoppages as a result of delays in receiving vehicle components from Asia. Manufacturers of auto components have also been impacted, especially those with significant financial exposure to shipments from China to Europe and the United States. In fact, in light of the Red Sea shipping crisis, ocean spot rates—one-time costs shippers pay to carry a load at current market pricing—have skyrocketed. Compared to November 2023, spot rates from China to the U.S. East Coast and West Coast experienced a notable surge of 130%. Other reasons affect global shipping besides the Houthi attacks in the Red Sea and the interruptions in the Suez. A catastrophic drought damaging the Panama Canal, a crucial trade route in Central America that links the Atlantic and Pacific seas, is exacerbating difficulties for the maritime sector and global supply chains. Due to a prolonged drought, the Panama Canal Authority is initiating fresh vessel traffic reductions that will total more than 40% fewer boats by February. Will this situation rekindle fears about inflation and supply chain problems? Image source: Reuters #economicoutlook #crisis #trade

Learn how industries are adapting to the Panama Canal drought. Bridge the gap with Resilinc! https://okt.to/bCnXzd #shipping #logistics #supplychain -special-report-bridge-the-gap-how-industries-are-adapting-to-the-panama-canal-drought/ Don't miss out on this wave of knowledge! 🌊🌊🌊 #PanamaCanal #Shipping #SCRM