Affected by the continuous drought, the Panama Canal, an important shipping route in the world, has recently introduced many restrictions on traffic, resulting in ship congestion near the mouth of the Panama Canal.
As of August 14, about 140 cargo ships lined up near the mouth of the Panama Canal, higher than the normal situation of about 90 cargo ships lined up during the rainy season from May to September in previous years. According to the analysis, the restrictive measures introduced by the Panama Canal Authority may push up short-term freight rates and affect global freight.
At present, large shipping companies including Hapag-Lloyd of Germany have announced that they will impose surcharges on routes passing through the Panama Canal.
