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Panama and Suez Canal double crisis threatens global supply chains

Ship crossing Panama Canal being lowered at Miraflores Locks - Panama City, Panama

Persisting Suez Canal and Panama Canal-related supply chain delays and increased rates may see shippers and forwarders opting for air cargo. Shipping operations are currently being compromised by the need to avoid the Suez Canal due to the risk of attacks in the Red Sea, and restrictions on the Panama Canal following drought.

World’s two most important shipping canals now facing serious delays

Container ship sailing in sea

The world’s two largest shipping canals are facing delays and problems, threatening to snarl commodities shipping and push prices higher. Ships crossing through the Panama Canal have faced delays this year because of drought that has sent the canal’s water levels to record lows.