Climate change is affecting the viability of the Panama Canal, a crucial artery for global trade. A prolonged and severe drought during what should have been Panama’s rainy season has significantly lowered the water level of Gatún Lake, the freshwater source essential for operating the canal’s locks. The lake is currently nearly 6 feet below…
The container shipping industry is experiencing extreme challenges and volatility since 2020 and with the gradual withdrawal of the pandemic restrictions in 2022 sea freight forwarders were expecting a semblance of market stability. Nevertheless, the situation unfolding is not very hopeful for the ocean freight industry. The sector is still having to contend with global…