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ITS Logistics

IN THE NEWS: Panama Canal drought threatens half of vessel traffic

Vessel on the water with containers on it

CNBC
November 3, 2023
Lori Ann LaRocco

FROM THE ARTICLE: The road of pain has lengthened month by month; last year trucker Containerships have priority in crossing the canal due to their contracts. The most impacted vessel types are wet bulk and dry bulk vessels, Ashiq said.

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“This may start a shift in bookings for Transpacific freight destined to the U.S. East and Gulf through the Suez Canal, which is located in a region with significant geopolitical headwinds,” said Paul Brashier, vice president of drayage and intermodal at ITS Logistics.

Read the full article here.

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